General Info

[Soapy Smith]

ET's comment about ". Foreigners can only own 40." refers to ownership of either a business or, more importantly, a condo. Only 40% of the units can be owned by foreigners, so it is worth checking this before you buy.

This rule has been discussed many times in the forum. But what I don't understand are the many businesses in sex tourist areas owned by foreigners. Various reports about bars and hotels in AC and Subic, for example, in which posters refer to an Xpat "owner." Similarly, several Australian-owned small hotels in Ermita, and G-Point bar (Norwegian, I think?) , and maybe even MBC is reported to have foreign owners. I would be interested to know what one of these typical ownership models looks like.

[Nolz7]

Thinking about a short visit (one week) in March to use up some air miles before they expire I was considering Cebu or Davao just wondering what would be my best bet

Cebu hands down!

[Hutsori]

Thinking about a short visit (one week) in March to use up some air miles before they expire I was considering Cebu or Davao just wondering what would be my best bet

I think you'll like Cebu.

[Riverstar]

Thinking about a short visit (one week) in March to use up some air miles before they expire I was considering Cebu or Davao just wondering what would be my best bet

[Red Kilt]

Didn't know how HSBC operated, but in PH Law, foreigners can only own 40, so sure anybody doing business will have to rope in a local partner.

Note that under Philippine Law, the PDIC is only liable for 500, 000 php maximum if any bank goes belly-up (unlikely with HSBC Philippines)

http://www.pdic.gov.ph/index.php?nid1=6&nid2=1&nid3=4

You can check out all the details of HSBC Philippines here:

http://www.hsbc.com.ph/1/2/personal

ET's comment about ". Foreigners can only own 40." refers to ownership of either a business or, more importantly, a condo. Only 40% of the units can be owned by foreigners, so it is worth checking this before you buy.

[Wicked Roger]

Have a question for the senior members: Where is it best to spend New Year's in the Philippines? Manila? Cebu? Davao? Or Angeles City? The simple answer is: it depends; but I was wondering where you think the most fun is to be had. Currently I'm in Cebu. It's a nice place. Lots of girls in the malls, but a bit low-key and I'm not sure about the quality of nightlife for a New Year's celebration.

Any advice, suggestions, or opinions are welcome.

Thanks in advance!

Cebu is great at New Years but as Skip said, no one will PM you as you have zero PM facility. Also you have 3 FRs all asking question (2 being the same in Cuba). If you give you get (as many have said and this board repeatedly before) and there is always Google to find the answers to your questions or RTFF if you go through some of the archives etc.

Google is the best bet I think plenty of information there.

[Soapy Smith]

Where is it best to spend New Year's in the Philippines? Manila? Cebu? Davao? Or Angeles City? The simple answer is: it depends; but I was wondering where you think the most fun is to be had. Currently I'm in Cebu. It's a nice place. Lots of girls in the malls, but a bit low-key and I'm not sure about the quality of nightlife for a New Year's celebration.

The problem with your question is that, not only does it "depend" (on what kind of experience you want), but individuals' answers hinge on their tastes and experiences, and these may be quite different than your own. A better question might be, "in which city do sufficient numbers of women remain over New Years rather than retreat home to the provinces"? I think somebody asked this question in one of the threads, maybe this one, a couple weeks ago. You need to do some homework.

More important, it would behoove you to pay up the 20 USD and join the forum officially. Experienced mongers are much more willing to impart information if they think you are not a freerider. Then check out threads for the various cities, note who spends time in each one and has tastes similar to yours, and ask them privately via PM. Then you can also carry on a give-and-take conversation to get at the details. This all takes some focused effort; if you've spent enough to be in the Philippines over the holidays, you should not squander the opportunity by depending on "quick and dirty" inquiries. Joining the forum is one of the best $20 investments you'll ever make.

[Shango]

Have a question for the senior members: Where is it best to spend New Year's in the Philippines? Manila? Cebu? Davao? Or Angeles City? The simple answer is: it depends; but I was wondering where you think the most fun is to be had. Currently I'm in Cebu. It's a nice place. Lots of girls in the malls, but a bit low-key and I'm not sure about the quality of nightlife for a New Year's celebration.

Any advice, suggestions, or opinions are welcome.

Thanks in advance!

[Econo Tech]

Remember that each HSBC is a franchised operation for each country even though they are a linked international bank.

This means that HSBC Philippines is a separate entity and subject to Philippines banking laws (including how much of your deposit is insured).

However, the HSBC ATMs everywhere are linked and it is easy to withdraw cash anywhere in the world (in my experience, and I have used them in HK, Malaysia, Thailand, Vietnam and Australia with ease).

Special arrangements can be made whereby you pay zero fees for withdrawals. For example, if you deposit whole-of-salary or maybe whole pension cheque in your account each month you will get special benefits.

Didn't know how HSBC operated, but in PH Law, foreigners can only own 40, so sure anybody doing business will have to rope in a local partner.

[Red Kilt]

As Redman says try HSBC. If you are an existing account holder it is easy to open an account here but check the minimum amount to hold in the account. If a Premier holder there is not such nonsense and it is simple to open. If not there is a minimum account balance but is not $100k it is much less and in pesos. Also get a dollar and pesos account

Best is to seek out HSBC in your home country and see hat it advises for the Philippines.

Remember that each HSBC is a franchised operation for each country even though they are a linked international bank.

This means that HSBC Philippines is a separate entity and subject to Philippines banking laws (including how much of your deposit is insured).

However, the HSBC ATMs everywhere are linked and it is easy to withdraw cash anywhere in the world (in my experience, and I have used them in HK, Malaysia, Thailand, Vietnam and Australia with ease).

Special arrangements can be made whereby you pay zero fees for withdrawals. For example, if you deposit whole-of-salary or maybe whole pension cheque in your account each month you will get special benefits.

[Wicked Roger]

As a last resort I can always transfer my accounts to one of these 3 banks in my home country.

If you are not happy with the local banks and can't open from your home country I would do the above, and visit HSBC as the staff helped me open accounts and it is fairly quick.

[Johan Waans]

Thank you for the information, guys. I found 3 banks which have a branch in my country. HSBC is not one of them.

I guess I will just travel to Philippines and see what happens. As I am used to dealing with none Western economies.

As a last resort I can always transfer my accounts to one of these 3 banks in my home country.

[Wicked Roger]

Guys,

I am trying to decide in which country to retire. Regarding Philippines : is it possible to travel to Philippines

For one month and to open a bank account without the ACRI card. Because I would like to return to my country for 2 months to.

Deal with all the legal issues and transfer money into that account and then return to Philippines and apply for the ACRI card after 59 days. Thanks in advance.

I would speak to the bank in your home country and see if it has a correspondent bank in the Philippines. If so try and pen an account in the country from your home base bank.

If not for all local banks I think you will need to show you are a resident.

As Redman says try HSBC. If you are an existing account holder it is easy to open an account here but check the minimum amount to hold in the account. If a Premier holder there is not such nonsense and it is simple to open. If not there is a minimum account balance but is not $100k it is much less and in pesos. Also get a dollar and pesos account

Best is to seek out HSBC in your home country and see hat it advises for the Philippines.

[Redman69]

I have opened two accounts on two occasions in RP. Both with BPI which is owned by a Ayla sub. It takes 20 working days for US checks to clear. You need to open a account with a min. Of 500 dollars and it will be called a dollar account. You can get a ATM card also. All I can say is from experience all things in RP. Are subject to change. So today you might not be able to do what I said.

HSBC, has a program if you keep 100K in your US account you can tap it from anywhere in the world we no fees. I do not know your price range. But there are Branches in Manila and Cebu that I have seen. If you are traveling that part of the world. And can afford it. I would say that HSBC is the best way to go as you can tap your funds where ever there is a branch. If in the special program of a min. 100K.

[Johan Waans]

Guys,

I am trying to decide in which country to retire. Regarding Philippines : is it possible to travel to Philippines

For one month and to open a bank account without the ACRI card. Because I would like to return to my country for 2 months to.

Deal with all the legal issues and transfer money into that account and then return to Philippines and apply for the ACRI card after 59 days. Thanks in advance.