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Paul

The Anti-Dummy Law of the Philippines

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It is true that not every type of business requires such a large investment.

 

But retail enterprises do.

 

I dont believe that particular clause covers a bar or similar establishment, but would need to wade through loads of files etc to see exactly what does cover it.

And its nearly my bed time so I aint going to! lol

A retail establishment sells services or goods directly to the end-customer (as in without distributors between them and the end-customer). If that category of business doesn't cover bars, I don't know what does. I don't know of a bar on Earth that doesn't sell alcoholic beverages directly to the end-customer (even if it is a private club where membership is required, they still sell to the end-customer. Bars ARE retail establishments.

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lazydays

The effect of circa 300 years of Spanish and American colonization. They want to make darn sure that foreigners can never control major aspects of the country, economy or infrastructure here again. The only way I foresee it changing and protectionist laws being changed or repealed is if the Philippines is signatory to some sort of Pacific Rim free-trade agreement similar to NAFTA.

 

Of course we must remember,that most of the very wealthy 3% are of Spanish descent.

 

are there any statistics on that.. its my impression that the chinese screwed their way in and then shut the gates against any other foreigners...and now pretty much run the show from back of house.

 

you really should look at how the chinese changed their family names so that they now sound spanish.. its quite comical.

 

 

It was something i read a while a go,examples were the Ayala and Aboitz families,but i also realise some chinese are in this bracket.

Apparantly some Spanish families were given vast tracts of Philippine land for services rendered to the King of Spain during the colonial days.

A popular idea way back in old colonial days.

This i presume,is why some sectors are behind Agrarian reform,as technically,i suppose the land was originally stolen from filipinos.

Age old problem from way back colonial days,with no easy answers.

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Alan S
Bars ARE retail establishments.

 

Are they?

Might they not, at least some of them, be "Tourist facilities"? They come under a different law.

A bar in a hotel would too.

 

I agree that most would probably would be classed as "retail establishments" but often the legal definition can be quite specific, and even confusing.

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spooks
Bars ARE retail establishments.

 

Are they?

Might they not, at least some of them, be "Tourist facilities"? They come under a different law.

A bar in a hotel would too.

 

I agree that most would probably would be classed as "retail establishments" but often the legal definition can be quite specific, and even confusing.

 

 

Very simple really in most cases.

 

In most cases it is foreign money that has financed the business start up and is considered a loan at 10%.

 

Profits after taxes are then loan repayments not wages/salary etc. The tipping point them comes when the loan and compound interest is covered and the business is now showing a profit, time for a refurb etc.

 

The money after loan repayment then goes into your joint account with either to sign.

 

As a share holder with shares, some preference shares etc you get the dividends.

 

There are ways that are entirely legitimate to rescue your investment and enjoy the profits.

 

Just do it correctly

 

M

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SkyMan

VIOLATOR of the dummy law:

elephant.jpg

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sngbm87

So retail is only to be controlled and owned 100% by filipinos and anything foreign influenced means ur in jail? I thought it was just 60%.

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Alan S

No. Large retail is OK.

What they dont want is foreigners opening small shops and putting their own people out of business.

 

Given the massive level of unemployent, underemployment and poverty, I cant say that I blame them.

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easy44

No. Large retail is OK.

What they dont want is foreigners opening small shops and putting their own people out of business.

 

Given the massive level of unemployent, underemployment and poverty, I cant say that I blame them.

 

Damn, there goes my sari-sari store.

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tobster

Damn, there goes my sari-sari store.

Mine too.........

 

Also I am a part time employee and a 100% owner.... So I am in trouble I think.....

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broden

Damn, there goes my sari-sari store.

just open up a really big sari sari

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easy44

just open up a really big sari sari

SM already did that.

  • Like 2

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Faluango

Authorities will not find out until someone files a complaint against you, jealousy, hate or betrayal, is a serious risk

Edited by Faluango

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expat08

I think most know cause alot claim to use dummies. It's not hidden. However it is true... "until someone files a complaint against you, jealousy, hate or betrayal, is a serious risk"

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gripps

:beatdeadhorse:In a country that prizes false pride and arrogance above all else, what could one expect. It prevents anyone from competing with local companies. Radical ideas such as customer service might be brought in and require the locals to change. Such a revolutionary change would be devastating to the local businessmen. In a country where the laws are written by the rich, for the rich, new ideas and ways of doing business are definitely not welcome. Nothing is discriminatory here as long as it only applies to foreigners. The opportunities for the top 3% must never be subject to competition from abroad. As foreigners we do have one inalienable right in this country. That is the sacred right to pay.�

 

YES...

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