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  #11 (permalink)  
Old 18th February 2015, 01:54 AM
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Originally Posted by colemanlee View Post
Ive lived here full time since 2011, I still love it here, I whole hardly agree that you should live here FULL time for at least one year, preferably single before making any commitments. For no other reason than it takes that amount of time to get your feet on the ground and know what your doing...
I did not do that, got into a relationship on the computer, and though I had been here many times before, found that it was completely different living here full time. That cost me a large sum of money and a lot of grief. So I speak from experience.
I dont have a large amount of money left over every month, but I am investing in land and business and most of my extra goes to that...
The best advice I could give to anyone coming here would to be read others experience here on the forum, and dont think your different and it will be different for you...it will not be
Its a great place to live, but its is vastly different from your home country..
I agree whole hardheartedly on your advice on getting use to living here. Good sound advice.

At the same time, I'm curious. Have you found some loophole in the Philippine constitution or laws?
How is it possible to invest in land and businesses when the law prohibits us from owing land in any way and will not allow us a foreigners to own even 50% of any business or company here? Good trick if you can do it..

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  #12 (permalink)  
Old 18th February 2015, 02:22 AM
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Originally Posted by Jet Lag View Post
I agree whole hardheartedly on your advice on getting use to living here. Good sound advice.

At the same time, I'm curious. Have you found some loophole in the Philippine constitution or laws?
How is it possible to invest in land and businesses when the law prohibits us from owing land in any way and will not allow us a foreigners to own even 50% of any business or company here? Good trick if you can do it..
All the land is in my wifes name...right now that includes a 1000 sq meter lot up on the road in the province that will be the location for our house and store and a couple of hectors of rice land...works if you have a wife you can trust. For me, and this will not work with all, my wife handles all my money..from transferring it from the states to investing it and spending it here. I have her give me an allowance every month that more than covers my personal expenses. She does the same. After household expenses, almost every centavo we have we invest back into the land and business ventures..one of the good things that has come of this method is we dont have extra money to loan, so we dont get asked much.

I am partners with a Filipino friend here in two or three different business ventures, we formed a corporation, him 60% Me 40% which is not bad as I only put up 40% of the capitol.

Most here complain about that law, me included, but if you only put up 40% then its not such a bad deal...mostly its about finding somebody you can trust who is honest...there are some out there..

I have what I consider to be sound reasons for doing it this way, first if something happens to me..she does not have any problems carrying on without me..second, she gets the experience of handling money and doing business...dont get me wrong, she still asks me for advice, I still guide her in somethings...but my goal is to have her thinking independent of me and strong on her on.

I have to say when she reads the forums, she always says, you trust me so much, most wifes get just an allowance...I doubt this will work for everybody, but it works for me....when she does business, buys land etc. most never know I'm involved...so we always get the Filipino price in our dealings.

Also, keeps me out of IRS bs...
Asian Spirit and cvgtpc1 like this.

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Last edited by colemanlee; 18th February 2015 at 02:24 AM.
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