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Jim (twostrokes) as Dave pointed out, you CAN own 100% of a business subject to the Foreign Ownership Negative List.

 

retireyoung, I see no reason why not. As long as the income is from overseas, it is an "export".

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Would an IT outsourcing business (to overseas customers) be considered an export activity?

 

I just took a job as Diredtor of Sales for a BPO/KPO here in Cebu. http://www.icatchit.com. Email me if you have questions!

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LastManStanding

Just so everyone doesn't get too excited. You business has to have paid in capital of 200 million Pesos. That's right I didn't add some zero's by mistake. It is garbage....10 employees but 200 milllion in capital.

 

Hence the reason for the indefinite visa.

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Can you find a reference to that?

 

All the reports I have read say that it is to encourage the smaller business / investor.

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LastManStanding

I believe it was in Friday's paper. I couldn't believe the 200 million....I showed it to a bunch of friends.

 

I don't see any reference in your link above. I saw some other posts talking about the heavy restrictions.

 

I'll guess we'll know by the end of the month when it goes into effect. I'll go down to immigration and ask them.

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I believe it was in Friday's paper. I couldn't believe the 200 million....I showed it to a bunch of friends.

 

I don't see any reference in your link above. I saw some other posts talking about the heavy restrictions.

 

I'll guess we'll know by the end of the month when it goes into effect. I'll go down to immigration and ask them.

 

I think you are talking about two different visas here. the 200 million thing is the allready existing investors visa.

 

The 10 employers thing is a new thing. If I understand this right, you could open up a German, Greek, Danish etc restaurant and have it approved as a tourism industry buy the board of tourism or something and you are on your way. Or other kind of tourism industry. Tourism is regarded as export.

 

Yes, a callcenter with customers abroad is export too. You can open up an internet cafe, have a call center in the back room. Just make sure that 60% or more of your income is based from abroad, and you are an export industry. Or open up a "sweatshop" of taylors and make sure you sell at least 60% of your products abroad (and the rest you can sell here), and you are an export industry etc, etc.

 

But its a lot of paperwork to go through though. Dont think it will be easy. But it is possible.

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Well I'd be very interested to hear from anyone who is successful in obtaining the SEVG at my age going for the retirement visa may be a better option as I cant see any business I set up employing 10 people.

 

Anywhere exciting in the provinces?

I was looking for a peaceful place, :) I don't know about exciting but I would have to say riding the buses and sitting in the front seat and seeing how many near misses of children in Negros walking on the highway did have my full attention.

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I will be looking at "the small print" on this visa very closely.

As some here know, I will be starting a business there next year, and it will certainly employ over 10 people, but insufficient investment for some other visa. (There are various options in the visas vis-a-vis the investment required.)

 

But, no way will it be 200 million!

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I will be looking at "the small print" on this visa very closely.

As some here know, I will be starting a business there next year, and it will certainly employ over 10 people, but insufficient investment for some other visa. (There are various options in the visas vis-a-vis the investment required.)

 

But, no way will it be 200 million!

 

Their are other ways to accomplish this unless they change those rules as well. PM me if you want to find out more!

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It would be easy to have phantom employees. Maintain a place of business with 3 or 4 workers, and then have 7 or 8 on the books(like paying taxes), but not paying wages.

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When doing anything illegal anywhere, it is also easy to get caught.

 

In my case, the business will employ between 20 and 25 people at the outset (more later) so that will fit in to the criteria.

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Monsoon

Guys.... First let me give you a big " Oi"

 

OK. Now that I got that off my chest. This link refers to nothing that hasn't been open to investors in the Phils for some time now. I'm not about to turn this thread into a consultation regarding business in the Philippines, but for those of you who know me, I'll be happy to give you the bottom line.

 

Forget about the 10 employee quote someone mentioned earlier - here's the bottom line: If you dont alread own a legal Philippine Corporation and you dont know what PEZA is, you shouldn't even look at this as an option. Hire 10 maids? OK, go ahead, but please pay SS, Phil Health and taxes on behalf of those 10 domestic helpers, and then please justify your business as either 100% export or show otherwise that you have brought something significant to the Phils...

 

Come on guys... Nothing in life is free...

 

 

Flame on if you like, but come on... Sheesh... Get a life, lawyer or..... Nah, One of the two will do...

 

 

OK. I'm going back to lurking..

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Monsoon
Just so everyone doesn't get too excited. You business has to have paid in capital of 200 million Pesos. That's right I didn't add some zero's by mistake. It is garbage....10 employees but 200 milllion in capital.

 

Hence the reason for the indefinite visa.

 

 

LOL. Sorry mate, but you are either ill informed and/or full of "bulla bulla" (sp?)....

 

 

That's the last I'll post on this subject... But you are clearly mis-informed regarding foreign equity corporations in the Phils.

 

Cheers!

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