TO INVEST IN THE PHILIPPINES WHY ? and HOW ?

HOW TO LIVE PERMANENTLY IN THE PHILIPPINES ?

HOW TO BECOME A PERMANENT RESIDENT ?

TO INVEST . . .

In the Philippines, country where seventy five per cent of the population is under twenty years old, there are many things to do for people having some ideas, and/or the experience of the real industrial and developped modern world.

Industry, Trade, Services, in this country, need badly people and money.

The Philippines are changing very fast to try to reach, at the horizon 2000, the level of the international standard of life.

Ninety per cent of the Philippines ressources are handled by less than eighty families.

The central power is conscious of the need of foreign investors to develop the country and many incentives are given to encourage these investors.

Freedom to reexport the invested capital and their earned interests, taxes exoneration, some imported equipment are tax exempted, investor Visa, are some of these incentives, and guarantees offered by the Government of the Philippines.

The labor here is cheap: A worker earns around U.S $ 1,600 a year ( inclusive of a thirteenth-month pay).and the companies' social charges are in the amount of around six per cent of the salaries.

The companies' profits are submitted to only around 20% taxes, negociable, with the local director of the Bureau of Internal Revenue.

In this country many sectors of the industry, of the trade, and of the tourism, and so on, are opened to foreign investors.

It is possible to do it alone or with local partners - Filipinos citizens or foreigners already arrived several years ago and who obtained a Permanent Certificate of Residency allowing them to do business and to work in the Philippines.

Some sectors are protected and not allowed to foreigners: Fishing, retail shops, Press, shipping.

Some of these activities can be financed partially by foreigners but need to be done through a company with 60 % of the shares holded by Filipino nationals.

To engage in business with a foreigner having the experience of the ways to work abroad, and with a good knowledge of the Philippines Laws and customs can be of a great help.

Many foreigners residing in the Philippines are consultants or advicers for foreign companies or foreign investors.

Without any will to be subsitute us to the two main Filipino organisms who are in the country to find and to help investors to do something in the Philippines:

The BOARD OF INVESTMENT and the BUREAU OF TRADE who have also some representations abroad, in many countries; we advise you (for free) to have some contacts with foreign businessmen who already have a good knowledge of the country.

We are in Asia and some ways of thinking or to run activities are, in many points, completely different of the western countries.

Our company has a Department personally handled by our General Manager who can assist you for any kind of business services and procedures.

You will save time and money because you will get all the information you need from a central source without running from one to another one Department or Government office, where it is not easy, sometimes to meet the right person who has the knowledge of what you are talking about

We know at which door to knock to get the proper answer.

Never forget: Here we are in Asia, and the things have to be explained following the two mindings to the two parties, (What they mean in regard of what they say) - the Western one to Asian people, and the Asian one to Western people, to avoid any misunderstanding which can be caused by different traditions, habits, and ways of living, and have very bad incidences.

YES in Filipino language means ALL except YES.

Read the book"Understanding Filipinos" published at the National Bookstore and written by two professors of the University of the Philippines:

After, all is simple, but we know a lot of bad stories which happened to foreigners who were believing they could think here exactly as there were thinking in their different countries of origin.

Our corporate lawyer is a also reliable and trustable man we know since many years and his services can be very usefull in some particular circumstances.

TO ESTABLISH YOUR COMPANY

If you are not attracted by Tourism activities, but to create a transformation industry, you can select in the Philippines some "PROCESSING ZONES" where in different places of the country, it is possible to import and transform or manufacture furnitures, handicrafts, equipment, apparatus, fashion accessories, spectacles, clothes, and so on.

These " Processing Zones" allow you to import in the Philippines and reexport from the Philippines without paying taxes products getting a very high add value because of the use of the local workers.

Within some conditions, a part of the finish produced goods can be sold in the Philippines. A part of the manufactured products can also be sold on the Philippines market, by special special permit.

The freight - travelling by containers have a very light incidence on the total costs.

TO SETTLE DOWN IN THIS WONDERFUL COUNTRY…

In regard of your country of origin…

To justify a total of more than six months a year out of your country of origin allow you to obtain the status of "Resident abroad".

Many advantages are connected to that status, mainly regarding the taxes you are actually paying. (Consult your fiscal regardingthis particular point).

You may obtain a Certificate of Residency by registering you at the Consulate of your country of origin by presenting your Passport showing your absence of your country for six months in a year.

It can be also easier to obtain from the Consulate of your country of origin based in the Philippines, to establish a Certificate of Residency and a Consular Card produced upon presentation of a Certificate of Residency you may obtain from any City Hall in the Philippines by paying a fee of around 50 cents.

This Consular Card being generally established for several years, you will just need to renew it by going to your Consulate a little ahead of the expiration date and having a postal address in the Philippines.

The Consulates have absolutely no time to control their respective nationals who do not visit them …

By residing in the Philippines you may perfectly receive honorariums or commissions from any company based in another country in the world without having to pay any tax in the Philippines.

Concerning the Philippine Laws… You have different opportunities

1 - No need of any Visa to come in the country and to stay for up to 21 days as a Tourist.

• After 21 days, YOU MUST APPLY for an Extension of stay

At the nearest Bureau of Immigration, this extension valid for one month can be renewed

For one , two or three month as long as you stay in the Philippines less than one year as a Tourist. This Tourist Visa doesn't allow to have any professional activity - except if you are Artist ( writer, painter, and so on) and if you are selling only he products of your Art.

After the expiration of one year, you must go out of the country…almost for a few days, then coming back for a 21 Days stay which will be extended again by monthly, bi monthly periods until one year. You can use this procedure to stay permanently a Tourist in the Philippines, and as long as you are not engaged in in any business.

2 - You have already a company with office in Asia - (Hong Kong or Singapore)

• You decide to open an office in the Philippines.
• You will probably can obtain a BUSINESS VISA

In that situation, you may obtain a particular Visa allowing you and your family to reside in the country. You are allowed to work for your own business.

 

3 - You are planning to work for a foreign company installed in the Philippines.

• You will need to obtain a PRE-ARRANGEMENT VISA - Generally the company you are working for will be able to obtain it for you.

4 - You are planning to be an immigrant to the Philippines.

This is possible on different ways.

• Applying for an IMMIGRANT VISA - which is deliverd on the basis of the equivalency of the number of Filipino people accepted yearly as immigrant in your country of origin.

• By Applying for an INVESTOR VISA and by showing the amont of your investment has been done ( U.S $ 50,000 in Tourism business) - Certification emaning from the Board of Investment.

This allow you to run your own proper business and to take all the decisions regarding

this business.

The INVESTOR VISA is valid as long as your INVESTMENT stay in the country.

• By applying for a "RETIREMENT VISA"

You have to deposit for six months an amount - productive of interests - in an

accredited Bank.

This amount is fixed at U.S $ 75,000 if you are less than Fifty Years old, and

U.S $ 50,000 if you are over Fifty.

You will have to go for an AID Test and pay an amount of around U.S $ 1,500 to

the Bureau of Immigration for the Filipino Government.

This Retirement VISA is valid for your life time and allows you to own your own house

where you will be able to reside..

• The "best" VISA you could obtain is the 13 A VISA

It is giving to you, almost of the same rights as a Filipino citizen except of the land property right. You may obtain it by marrying a filipino citizen.

She or he is the one to apply for you,

This VISA, of course allow you to work in the Philippines. You just have, after obtaining it,

to apply for the Permit of working through the Departmet of Labor which will give it to

you - valid for your life time.

This VISA 13 A allows you to apply for the Filipino citizenship, after 5 years of

permanent residency in the country.

This is not uncompatible with the fact that you could obtain - and probably before, the

citizenship of your country of origin for your wife.

All the above informations do not engage, in any way, our company and are communicated to you under reserve concerning any modification of the Philippine Laws.

 

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