I agree that investing in a local small business that competes in the local economy has very little upside. On the other hand there are many foreign owned BPOs (Business Process Outsourcing) that have employees here and are serving clients in first world economies. Qualfon is the largest here in Dumaguete. Tucked away in the nooks and crannies of the city, there are many foreign owned small businesses operating as BPOs. These businesses are doing very well. They have clients in the first world who are accustomed to paying high fees and employees here at a low cost. It will get better when the left wing increases the minimum wage in the first world. This will make the BPOs more profitable. Then, even more service jobs will leave the first world.
TLDR (or TL;DR) is internet slang for posts that are “Too Long; Didn't Read" To be brief, I was reminded of a foreigner friend of a former colleague. The foreigner invested some savings in a USD time deposit and then applied for a Special Resident Retiree's Visa (SRRV), under which he was able to work legally in PH. Last time I heard, he was seeing a Filipina met at an office near his workplace. Hope they marry.
I know you are very smart - but how can you respond positively to what you perceive as a negative if you never read the negative in the first place??? My piece had to be long as there is so much scamming going on here. It seems to be a big part of the economy. I don't know much internet slang - only things like FO. FO Fiber-Optic(s) FO Field Office FO Front Office FO Formatting Object (XSL) FO Foreign Office FO Face-Off (hockey) FO Faroe Islands FO First Order FO Follow On FO Foramen Ovale (neurology) FO Fallout (computer game) FO Foreign Object FO Formula One FO Fuel Oil FO Force Ouvrière (French Labor Union) FO Force Ouvrière (Workers Force) FO Forli (postcode, Italy) FO Freak Out FO Far Out FO First Officer FO Formosa (Argentina province, airline code) FO Fly-Over FO Factory Outlet (UK shopping channel) FO Fly Out (Baseball) FO Field Operations FO Finance Officer FO Fluid Ounce (unit of measurement) FO Fantasy Online (video game) FO Flight Operations FO Furnace Oil FO Forward Observer FO Flying Object FO Foldout FO Foul Out (baseball) FO Full Out (typography) FO Foreign Objects (band) FO Finished Object (crafts) FO Fitting Out FO Furka Oberalp (railway in the Alps) FO Flip Off FO Force Operations FO Foreign Service Officer FO Field Order FO Fail Operational FO Flag Officer (Royal Navy) FO Flying Officer (Royal Air Force & commonwealth countries) FO Flight Officer FO Fairly Oddparents (cartoon) FO Firm Offer FO Fiscal Officer FO Firm Order FO Forsvarets Overkommando (Norwegian) FO Fail Open FO Flake Off (polite form) FO Flight Order (US Navy) FO Flash Override FO Fourth Official (soccer) FO Facilities Office FO Fire Order FO Friendship Over FO Forced Outage (power industry) FO Forlì, Emilia (Italian province) FO Frequent Observation FO Farmowners (multiple line insurance policy covering farmowner's property and liability coverage) FO First Orbit FO First Orchestra (Plano, TX) FO Frosted Orange (drink) FO Focus Offset FO Flow Orifice FO Full Organ FO Federation Object FO Foreign Operations Administration FO Flight Object FO Fun Orb (game website) FO Fully Orthogonal FO Free Overside FO Fire & Observe FO Functional Orthosis FO Form Stroke (swimming) FO Finsbury Orthopaedics Ltd (UK)
In truth, I am not internet slang-smart. Next to "LOL" for "laugh out loud" and "BTW" for "by the way" learned years ago, I learned it last year after I sent my busy kids comparative info about CoViD-19. There was only one response from my youngest - TLDR.
I assume that "work legally in PH" means being gainfully employed by a Filipino legal entity. Actually the SRRV alone does not allow you to be gainfully employed by a Filipino legal entity. He may have some other permit that allows him to be employed by a Filipino legal entity. The SRRV alone does not allow this. If he was gainfully employed by a foreign legal entity while "working" here (sitting on his butt behind a computer) then that is OK because he is not gainfully employed by a Filipino legal entity. He is not taking a job from a Filipino. Otherwise he would have to get an Alien Employment Permit (AEP) from DOLE.
The former colleague, also from Dumaguete, handled the foreigner’s case through BI and DOLE; and so, apart from his legal secretary gossip, I have no inkling whether an Alien Employment Permit (AEP) was in order or not, professional ethics being always in place for the client confidentiality. But yes, you are right. Except for the lawfully exempted, a foreigner intending to be employed by a locally registered entity – be he a Professional Regulation Commission-allowed professional, a Special Investors Resident Visa (SIRV) holder, a Special Retiree Resident Visa (SRRV) holder, a Treaty Trader Visa (9d) holder, a Special Non-Immigrant Visa 47 (a)2 executive, or a 9g visa holder - is required to secure AEP from DOLE. I could be outdated but, by locally licensed entity, it can be a sole proprietor, partnership, or a corporation possessing financial capacity, regardless of nationality of ownership. It is the justification for giving the job opportunity to a foreigner, instead of to a Filipino, that can result to issuance of an AEP. I looked up what's new and found there are new rules (again!) for AEP issuance, published at https://www.dole.gov.ph/php_assets/...f-Employment-Permits-to-Foreign-Nationals.pdf