Here are some quick answers to chew on...
But i have questions that i hope someone can answer.
1. Should i get my PH passport / citizenship? Benefits? Drawbacks? I do not want to give up my US citizenship or passport. Will this help with doing business etc?
I do not think that you can get a PH Passport unless you revoke your US citizenship. You can get a 13A spousal visa upon arrival with your wife which is renewable annually. Business is always a challenge (good workers, honest workers, competition, etc. etc.). You will also have to upgrade to a 13G (allows you to work) visa
2. How do US taxes work for an expat? I am bringing a nest egg of money; how does the US tax system effect me there? I assume I will need to pay xx percent on newly generated money only and not on my egg nest that was already taxed? (I have no investments, retirement money, etc. i have an nest egg of xxxxxx us dollars.)
As a US Citizen you are taxed worldwide on your income. So any local income generated will be taxed at your proper tax rate. All income earned abroad is eligible for the Foreign Earned Income Credit ($97,000 deductible for 2012) as long as you outside of the US for 330+ days/year. If you pay Phil Income tax, it should be deductible from your US Tax Liability (you would have to check with a CPA).
3. Obamacare...will it effect us as expats?
Expats are not eligible for Obamacare as it is domestic health insurance only.
4. You are there. Are you happy? Yes Did you make the right decision? Yes Why do you say that? Less stress, lower costs and am always happy now.
5. What do you wish you would have brought with you but did not? very little What do you miss? Good bratwurst
6. Do you think a well stocked store full of american (Joe) products would work? Only in an area with a larger expat community (Cebu, Dumaguete, Angeles, Subic, Davao, Manila) Would you travel a little to get american clothes? I order mine online and ship via a cargo forwarder. A philly cheesesteak? Would be a nice change of pace. Some Wisconsin cheese? Most decent cheese here is from NZ A real maytag washing machine? I have one (locally purchased). Most durable goods cost 25-50% more than the US (Tariffs) A pair of size 13 Nikes? Again, order online A place where you can request what is stocked. Enough expat demand? Might be plausible but I am sure that the items would be costly and most expats are on tight fixed budgets.
7. Would opening an American (a Joe themed) bar be successful? Walk in and there are pics of NYC, Boston, a broncos shirt on the wall, etc. Bars always seem risky. I like the idea of a good sports bar, not sure of the viability.
8. My wife loves the idea of a bowling alley that would also have video games, karaoke, and other things fond to the PH people. Bad idea? Not too many bowling alley's over here. What few that do also have pool tables.
9. Is there a large enough demand for door to door shipping worldwide for expats? I think that there could be. The key is reliability. The one that I presently use, gets it to my door in 6-7 weeks (via Sea).
10. I assume i could get directTv and get the baseball package? Lol sorry have to ask I do not think so. I think that the Satellite does not have coverage over here.
11. What do you think will help me be successful in all this? PHP will not be an issue for us. Not sure what to say on this one.
12. Where is there a high concentration of expats living in PH? Cebu, Dumaguete, Angeles, Subic, Davao, Manila
13. With the electricity issues (brown outs n power losses) is it worth having a generator system and a water filtration system put on the house? Yes if you are in the provinces Or if we buy a high rise condo do they suffer from power n water issues too? Depends on the locale. Not so much in Manila or Cebu
Well i think that is it for questions.
Thailand seems like too much work for me considering i am already married to a PH. It will be a lot of work wherever you go, but you will find your filipina looked down upon in Thailand
It's all about finding the right niche that nobody has filled and hard to copy. It depends on each area that you will have to evaluate for yourself.
Check out the many posts in this forum. Lots of good stuff to be read.