Comments on: Savings and Investment in the Philippines http://americanindavao.com/blog/2009/03/savings-and-investment-in-the-philippines/ A Forum about an American Expat Living in Davao, Philippines Sat, 19 Nov 2011 15:22:49 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Bruce http://americanindavao.com/blog/2009/03/savings-and-investment-in-the-philippines/comment-page-1/#comment-951 Bruce Fri, 20 Mar 2009 14:00:31 +0000 http://americanindavao.com/blog/?p=307#comment-951 Ken, Thanks for visiting. It is nice when a friend visits my site. Since I never had a million, I never had to worry about investing. hahaha Ken,
Thanks for visiting. It is nice when a friend visits my site.
Since I never had a million, I never had to worry about investing. hahaha

]]> By: ken spanskie http://americanindavao.com/blog/2009/03/savings-and-investment-in-the-philippines/comment-page-1/#comment-942 ken spanskie Fri, 20 Mar 2009 02:49:52 +0000 http://americanindavao.com/blog/?p=307#comment-942 hi bruce- enjoyed looking at your blog. the philippines is an interesting- and even enjoyable place. survivial is the challenge. a forum on money and investing is always a help to the poor expat down on his last million or so. i likr your answers and advice and thank you very much for your contribution to our expat group. thanks again - ken hi bruce- enjoyed looking at your blog. the philippines is an interesting- and even enjoyable place. survivial is the challenge. a forum on money and investing is always a help to the poor expat down on his last million or so. i likr your answers and advice and thank you very much for your contribution to our expat group.

thanks again – ken

]]> By: Bruce http://americanindavao.com/blog/2009/03/savings-and-investment-in-the-philippines/comment-page-1/#comment-828 Bruce Fri, 13 Mar 2009 23:23:58 +0000 http://americanindavao.com/blog/?p=307#comment-828 Matt, Good for you. Just make sure it is right for both of you. Have fun and be safe. If you ever come to Davoa, I would enjoy meeting you. A lot of people like the diving off of Samal. Matt,
Good for you. Just make sure it is right for both of you.
Have fun and be safe. If you ever come to Davoa, I would enjoy meeting you. A lot of people like the diving off of Samal.

]]> By: Matt Niedz http://americanindavao.com/blog/2009/03/savings-and-investment-in-the-philippines/comment-page-1/#comment-826 Matt Niedz Fri, 13 Mar 2009 23:03:34 +0000 http://americanindavao.com/blog/?p=307#comment-826 Thanks for your Reply. my Email must have been entered incorrectly by you? It is "cenotemateo@yahoo.com" Leaving next Sunday for my 3rd trip in the last 12 months. We are flying to Boracay for some diving and romance. I think it is best that I continue to visit with longer stays and when I'm ready ...........just do it.....like you. Matt Thanks for your Reply.

my Email must have been entered incorrectly by you? It is “cenotemateo@yahoo.com”

Leaving next Sunday for my 3rd trip in the last 12 months. We are flying to Boracay for some diving and romance. I think it is best that I continue to visit with longer stays and when I’m ready ………..just do it…..like you.

Matt

]]> By: Bruce http://americanindavao.com/blog/2009/03/savings-and-investment-in-the-philippines/comment-page-1/#comment-756 Bruce Mon, 09 Mar 2009 11:23:52 +0000 http://americanindavao.com/blog/?p=307#comment-756 Katherine, It is nice to know your name, I felt funny calling you rklive... Since I am living here I try to learn what I can, and if important, I try to get it from many sources to make sure. Katherine,
It is nice to know your name, I felt funny calling you rklive…
Since I am living here I try to learn what I can, and if important, I try to get it from many sources to make sure.

]]> By: katherine http://americanindavao.com/blog/2009/03/savings-and-investment-in-the-philippines/comment-page-1/#comment-747 katherine Mon, 09 Mar 2009 10:35:39 +0000 http://americanindavao.com/blog/?p=307#comment-747 Hi Bruce, Thanks for visiting my blog. Glad to hear from you again. I enjoy reading all the comments here regarding this article..haha. You are so smart to learn all these things here in the Philippines. Goog job. Hi Bruce,

Thanks for visiting my blog. Glad to hear from you again. I enjoy reading all the comments here regarding this article..haha. You are so smart to learn all these things here in the Philippines. Goog job.

]]> By: Bruce http://americanindavao.com/blog/2009/03/savings-and-investment-in-the-philippines/comment-page-1/#comment-701 Bruce Sat, 07 Mar 2009 10:29:34 +0000 http://americanindavao.com/blog/?p=307#comment-701 Lito, You are right, there is the PRRA (Philippine Retirement Resident Act) and there are different amounts based on age and if you have a pension or not. If your married to a Filipina you can just file for a 13A Residence. About the Employer Visa, yes, they passed the law, but being a foreigner and open a business is not as easy as it sounds. I will write about marrages. It is not that hard. If your an American you need to get an Affidavit from the US Embassy stating your legally able to marry. Then you just go through the papers with the Registrar at City Hall. If you’re going to write Hon. Cong. Nograles, you should ask him to make it easier for Foreigners to open businesses and to make it more attractive to Foreign Investors. With the 60% of a Corporation to be owned by a Filipino, why open a big business here. This is one of the reasons, I think; so much is going to China, Thailand, Vietnam and other Asian Countries. I understand the Filipino First law but to grow economically and commercially they need to attract more here. Lito,
You are right, there is the PRRA (Philippine Retirement Resident Act) and there are different amounts based on age and if you have a pension or not. If your married to a Filipina you can just file for a 13A Residence.
About the Employer Visa, yes, they passed the law, but being a foreigner and open a business is not as easy as it sounds.
I will write about marrages. It is not that hard. If your an American you need to get an Affidavit from the US Embassy stating your legally able to marry. Then you just go through the papers with the Registrar at City Hall.
If you’re going to write Hon. Cong. Nograles, you should ask him to make it easier for Foreigners to open businesses and to make it more attractive to Foreign Investors. With the 60% of a Corporation to be owned by a Filipino, why open a big business here. This is one of the reasons, I think; so much is going to China, Thailand, Vietnam and other Asian Countries.
I understand the Filipino First law but to grow economically and commercially they need to attract more here.

]]> By: LITO P. http://americanindavao.com/blog/2009/03/savings-and-investment-in-the-philippines/comment-page-1/#comment-697 LITO P. Sat, 07 Mar 2009 05:27:30 +0000 http://americanindavao.com/blog/?p=307#comment-697 Hi Bruce, I just want to point these two things out for you and for other expats who wants to live in the Philippines. I don't know if you knew them already. 1) For retired americans (I don't know about other nationalities), if I am not mistaken, you can stay indefinitely in the Philippines if you buy at least, I think, $15,000.00 worth of property. 2) I saw on the news that foreigners can now obtain a permanent legal resident visa in the Philippines with ease if they can employ at least 10 filipinos. I don't think one needs a huge amount of money to invest in order to employ 10 people there. And besides, I think, domestic help can be one of those employees. Thanks. PS. Bruce, I hope you can talk about weddings there too, maybe your wedding. I wanted to write Hon. Cong. Nograles (he is Davaeño and now speaker of the house) about suggesting some refinements to make regarding wedding arrangements there (especially if one of the couple is foreigner) to make it more practical these days. Anyway, that could be a topic later, no hurry. Thanks again. Hi Bruce,

I just want to point these two things out for you and for other expats who wants to live in the Philippines. I don’t know if you knew them already. 1) For retired americans (I don’t know about other nationalities), if I am not mistaken, you can stay indefinitely in the Philippines if you buy at least, I think, $15,000.00 worth of property. 2) I saw on the news that foreigners can now obtain a permanent legal resident visa in the Philippines with ease if they can employ at least 10 filipinos. I don’t think one needs a huge amount of money to invest in order to employ 10 people there. And besides, I think, domestic help can be one of those employees. Thanks.

PS. Bruce, I hope you can talk about weddings there too, maybe your wedding. I wanted to write Hon. Cong. Nograles (he is Davaeño and now speaker of the house) about suggesting some refinements to make regarding wedding arrangements there (especially if one of the couple is foreigner) to make it more practical these days. Anyway, that could be a topic later, no hurry. Thanks again.

]]> By: Bruce http://americanindavao.com/blog/2009/03/savings-and-investment-in-the-philippines/comment-page-1/#comment-692 Bruce Fri, 06 Mar 2009 13:49:20 +0000 http://americanindavao.com/blog/?p=307#comment-692 Johnray, Thanks for the information. Even with your low income and trying to keep life going, it is nice your planning for your future. I have noticed a lot of Filipinos have the attitude to spend when they have and borrow when needed. I tell a lot of Filipinos to take 10% out of their pay and put it somewhere for emergencies. Investing is not something I think a lot of people think about here. Continue to invest for your future and old age. Yes, we all get old, look at me. When I was your age I never thought I would need it and now I wish I had started at my early ages. Johnray,
Thanks for the information. Even with your low income and trying to keep life going, it is nice your planning for your future.
I have noticed a lot of Filipinos have the attitude to spend when they have and borrow when needed.
I tell a lot of Filipinos to take 10% out of their pay and put it somewhere for emergencies.
Investing is not something I think a lot of people think about here.
Continue to invest for your future and old age. Yes, we all get old, look at me. When I was your age I never thought I would need it and now I wish I had started at my early ages.

]]> By: johnray http://americanindavao.com/blog/2009/03/savings-and-investment-in-the-philippines/comment-page-1/#comment-691 johnray Fri, 06 Mar 2009 13:27:59 +0000 http://americanindavao.com/blog/?p=307#comment-691 Bruce, There are many good mutual funds found here in the Philippines. It is better that if ever you want to invest why not go where the bank goes and one of the is mutual funds. I know one mutual fund company that allows you to invest at Php. 5, 000.00. There will be no penalty for taking money if you have already invested for more than 3 or 6 monts. I have an account at Prudential Life optima, I started with Php 1, 000.00 since it is the only amount I could muster...per anum intersts range from 10% to as high as 23% depending on the economy. If you want to play it safe you can always invest in mutual funds invests both in stocks and in the government. This isthe link to a company that serves as financial brokers. I am also a member of this company, http://www.img-corp.com/sponsors_mutual.php.... hope it will help. Bruce,

There are many good mutual funds found here in the Philippines. It is better that if ever you want to invest why not go where the bank goes and one of the is mutual funds. I know one mutual fund company that allows you to invest at Php. 5, 000.00. There will be no penalty for taking money if you have already invested for more than 3 or 6 monts. I have an account at Prudential Life optima, I started with Php 1, 000.00 since it is the only amount I could muster…per anum intersts range from 10% to as high as 23% depending on the economy. If you want to play it safe you can always invest in mutual funds invests both in stocks and in the government. This isthe link to a company that serves as financial brokers. I am also a member of this company, http://www.img-corp.com/sponsors_mutual.php…. hope it will help.

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