Income suggestions
#1
Just Joined
Thread Starter
Joined: Oct 2019
Location: United Kingdom
Posts: 7
Income suggestions
I am thinking about moving to the Philippines within the next few years and have plans to build a multi unit apartment building there which I’m currently saving for - we have already purchased the lot. However, if we do or don’t go through with this, I would need another source of income on my part, my partner has work but I’m aware it’s near impossible to be employed by an employer there. I’d be open to any suggestions except for teaching English as I do not have the qualifications to be doing so.
Also, I’d be living in Laguna, Luzon
Cheers
Also, I’d be living in Laguna, Luzon
Cheers
#2
Re: Income suggestions
I am thinking about moving to the Philippines within the next few years and have plans to build a multi unit apartment building there which I’m currently saving for - we have already purchased the lot. However, if we do or don’t go through with this, I would need another source of income on my part, my partner has work but I’m aware it’s near impossible to be employed by an employer there. I’d be open to any suggestions except for teaching English as I do not have the qualifications to be doing so.
Also, I’d be living in Laguna, Luzon
Cheers
Also, I’d be living in Laguna, Luzon
Cheers
#4
Re: Income suggestions
Something that can be sorted before you arrive then. The Philippines can be a great place to retire on a pension from your home country, any sort of local income will be an uphill struggle.
Last edited by Gazza-d; Oct 7th 2019 at 10:43 pm.
#5
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Joined: Jan 2012
Posts: 466
Re: Income suggestions
One of the problems is the buracracy and paperwork are daunting.To succeed you would need substantial capital and even if you had such funds your ROI would take years, if ever.
I looked at Building a boarding House on a large scale and the Final nail in the confin was the cost of a sprinkler system which was 1.5 million php. Without a sprinkler system it would be impossible to get the Building validated for a permit of use. The other downside, where do you get staff that are reliable,competant, and trustworthy to manager the business.
I dropped the project because I am retired and did not want to become a slave to the business, head aches are not for me.
#6
Forum Regular
Joined: Apr 2019
Posts: 41
Re: Income suggestions
Exactly, and good advice. I have looked at options to seek an income via a business. Having researched and asked foreigner owned bussinesmen for there opinion I have realized that the risks are extremely high, and the rewards very poor.
One of the problems is the buracracy and paperwork are daunting.To succeed you would need substantial capital and even if you had such funds your ROI would take years, if ever.
I looked at Building a boarding House on a large scale and the Final nail in the confin was the cost of a sprinkler system which was 1.5 million php. Without a sprinkler system it would be impossible to get the Building validated for a permit of use. The other downside, where do you get staff that are reliable,competant, and trustworthy to manager the business.
I dropped the project because I am retired and did not want to become a slave to the business, head aches are not for me.
#8
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Joined: Apr 2019
Posts: 41
Re: Income suggestions
#9
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Joined: Jan 2012
Posts: 466
Re: Income suggestions
Not sure. I got my 13a in the Philippines and it was easy. I have served my probationary 1 year and have a 5 year 13a visa. Will have to report once a year to establish that my circumstances have not changed. Very simple, just make sure that all the paperwork you need to supply is correct and where a document needs authentication it is done. A marriage certificate Will have to be authenticated if the marriage was in the UK.
#10
Re: Income suggestions
It was the case but the information is now conflicting if you read the Philippines embassy london website. As it is your wife that applies on your behalf I assume she would need to be abroad with you when the application is made.
#11
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Joined: Apr 2019
Posts: 41
Re: Income suggestions
#12
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Joined: Oct 2019
Location: United Kingdom
Posts: 7
Re: Income suggestions
Thank you for your replies, 13a would be the way to go, although I’ve never heard of getting past the 1 year probationary so I’ll look into that. As for the income, I’m in my early 20s so I can’t rely on a pension...
‘the cost of a sprinkler system which was 1.5 million php’ that’s an insane amount for just one part of the building. However, small individual units won’t require sprinkler systems so it’s still the main option in terms of how I’ll make money over there. One thing I’m unsure of is if I’d need to declare it as a business since it’s multiple units? If so I know I can only own 40% which isn’t a big deal since it will just be me and my partner, whose name is on the land title anyway. So does anyone know if it would have to be made a business/corporation?
‘the cost of a sprinkler system which was 1.5 million php’ that’s an insane amount for just one part of the building. However, small individual units won’t require sprinkler systems so it’s still the main option in terms of how I’ll make money over there. One thing I’m unsure of is if I’d need to declare it as a business since it’s multiple units? If so I know I can only own 40% which isn’t a big deal since it will just be me and my partner, whose name is on the land title anyway. So does anyone know if it would have to be made a business/corporation?
#13
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Joined: Jan 2012
Posts: 466
Re: Income suggestions
No problem the yearly review is exactly that. If your circumstances have not changed no problem. If however for some reason you and your wife split up the 13a Will be revoked, and you would then have to make do with a Tourist visa. You cannot own land ,run a business ,have a Bank account, or have a driving license on a Tourist visa .
You need to do some very serious research before coming to live in the Philippines. How many times have you visited the Philippines and what is the maximum period you have spent there.
You need to do some very serious research before coming to live in the Philippines. How many times have you visited the Philippines and what is the maximum period you have spent there.
#14
Re: Income suggestions
How much money are you looking to invest in the Philippines and what's your expected return?
Have you considered buying property in the UK and renting it out? Might be a while lot easier and less hassle, and it's yours.
Do you have a degree? If you do aTESOLcert there are plenty of Chinese companies out there for teaching online that will pull in a couple of thousand dollars a month without too much difficulty.
Have you considered buying property in the UK and renting it out? Might be a while lot easier and less hassle, and it's yours.
Do you have a degree? If you do aTESOLcert there are plenty of Chinese companies out there for teaching online that will pull in a couple of thousand dollars a month without too much difficulty.
#15
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Joined: Nov 2012
Posts: 1,643
Re: Income suggestions
''there are plenty of Chinese companies out there for teaching online that will pull in a couple of thousand dollars a month without too much difficulty.''
there are?
there are?