General Info

[Pip Jaeger]

Wow just think if they tried to introduce daylight savings there.

Yeah right, that would not only add more confusion to an already confused country, but every spring it would also give the populace another excuse for being late; and not just one hour, but two (and they'd milk it out through the summer)! On the other hand, for a day or two in the fall they might actually be on time or even a little early! Imagine the horror? LOL

[KongKing]

Wow just think if they tried to introduce daylight savings there.

What I think is needed here is a permanent time zone shift, not a seasonal daylight savings. We are in the same time zone as Singapore, a two and a half hour flight to the west. It means that at this time of the year (shortest day-length, longest night) daylight starts much earlier, well before 6am, and gets dark quicker, before 6pm, than in Singapore which enjoys daylight to well after 7pm.

There are significant economic, safety and social benefits if daylight hours were positioned more to the end of the day than to the beginning. More people are at home at 5-7am, even asleep, when it is light and more people are up and about, returning from work, or school at 5-7pm, when it is dark or getting dark in the Philippines. Less power is consumed with lighter hours at 5-7pm, roads are safer, and there is more opportunity for social activities. The Philippines would be better off if they moved to a GMT +9 time-zone and into the same time as Japan and Korea.

KongKing

[OneIpole]

There are basically two ways for a foreigner to open a business here.

1. You have o have a deposit of $200,000. 00 USD IN a Philippine bank. The you can be 100% owner of a business and open it Philippines.

2. You must have a Filipino partner or partners who are resident Filipinos born here. Plus there needs to be a total of 5 directors of the company. The majority (3) must be Filipino. Then you do not need to put down anything except $1,000.00 USD in local bank. If you go this way here is the catch. Your Partner / s must have 60% of the company. They have the controlling interest. Now, there are ways to "figure out" how you set up your partners and they even do not have to know each other. There are some ways which are legal to make sure you get the controlling interest.

Anyways that is basically it. Its pretty easy to open and you can hire a consultant to do all the work. You just have to pay thier price. And the Fuckers really give it to you.

[Econo Tech]

At least they are trying to sort out this bad habit.

The last line of the article is the key point for those of us who work here and attend meetings.

http://anc.yahoo.com/news/dost-aims-...onnotation-of-

%E2%80%98filipino-time%E2%80%99-060938264. Html

Me still says mixed priorities, like the the senate was fighting over an anti-planking law, and another one over felicitations for a Miss something or other winner. And now Marcos fighting tooth and nail over his "Half cup rice" law.

There are bigger things to worry about, me thinks.

[Tally Wacker]

At least they are trying to sort out this bad habit.

The last line of the article is the key point for those of us who work here and attend meetings.

http://anc.yahoo.com/news/dost-aims-...onnotation-of-

%E2%80%98filipino-time%E2%80%99-060938264. Html

Wow just think if they tried to introduce daylight savings there.

[Red Kilt]

At least they are trying to sort out this bad habit.

The last line of the article is the key point for those of us who work here and attend meetings.

http://anc.yahoo.com/news/dost-aims-...onnotation-of-%E2%80%98filipino-time%E2%80%99-060938264. Html

[Econo Tech]

As far as I know all have silent partners who are pinoys as the rule is the rule. There maybe some legal juggling with shares issued etc and a Filipino corporation but ultimately there is a pinoy partner somewhere in the deep and distant background IMHO.

You are right, from my business friends in PH.

If you want to go it alone, you can do, by forming shadow companies, who take up a portion of the stake etc. Etc. But somewhere, you need to get a Few Filipinos onboard. And if you even [CodeWord140] off the locals, and if it goes big time, they can make sure all your investment is forefeited,

For those who are not in the know, a lot of Oligarchs in PH didn't make money the traditional way. Though they will claim otherwise: they took over foreign assets forefeited, by making govt pledge the loans and the like. I. E they spent almost nothing to take over businesses worth billions.

Of course, the govts in charge always claimed they did the best in the interests of the working populace, by guaranteeing the loans. And the poor public believe the govt did the best, and the poor foreign investor is left to lick his wounds, and as per PH Law, any foreigner who violates local law must be deported, so he would have been kicked out long time ago.

BTW, do some reading on the Supreme court's decision in kicking Fedex out, since, as per PH Law, foreigners cannot engage in local utilities, and a few UP and Ateneo Law Profs came out in Defence of the Supreme court. Despite the fact that Fedex had partnered with local delivery teams, the point raised was Fedex didn't have local partners on board. (I. E. So the local partners can milk the profits without putting up much capital.) now try figuring that out.

If that's not an example of Philippines Protectionism, tell me what it is.

Heck, when one of the famous Local cigerette makers was accused of avoiding taxes, his defence was "go after the foreign companies, like Philipp Morris and the like. Heck, you mus invoke laws to protect local manufacturers like us." despite the fact Philip Morris is manufactiuring locally and employing thousands, the point is, it is foreign, so it is fair game.

Welcome to doing business in Philippines. You can never expect 100% of your profits, as you have to give off 50 to 60% to a local.

[Slippery]

As far as I know all have silent partners who are pinoys as the rule is the rule. There maybe some legal juggling with shares issued etc and a Filipino corporation but ultimately there is a pinoy partner somewhere in the deep and distant background IMHO.

Yes, a senator, congressman, mayor, barangay captain, puroc official, etc. And ohhhhhhh, I forgot the highly regulated and honorable attorneys in the country. Sometimes, a wife. BTW, G Point owner is Swedish.

[Wicked Roger]

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.

As far as I know all have silent partners who are pinoys as the rule is the rule. There maybe some legal juggling with shares issued etc and a Filipino corporation but ultimately there is a pinoy partner somewhere in the deep and distant background IMHO.

[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.