⌛ Had enough in uk

It's called reality....spend a year or two in country and have a big honest think about what you're up against. Virtually everyone will want your pesos, it is a very poor third world country with a pathetic legal system - and they will cheat and defraud you whenever the opportunity presents - that is the way it is. You need to be really on top of the game - or have a very very switched on wife on your side. And mostly I've seen foreigners marry wives that are not very business savvy at all. The problem will often be - it is family that does it - or it is a scam out of left field you never even envisioned. Frankly, I put 70% of our savings in shares, mostly Australian and some international....in May 2009. Made a bundle now, previous losses gone an dusted....and this bull has just started running, looks set for many years of growth.....FTSE is resource-biased and is certainly on the upswing too. As if I'd think about risking 100% on a Philippines business that has cost nearly everyone who tried...the whole amount....I reckon world equity markets are 10-20% for the next three years at least....lot of catching up to do and the world looks like it wants to. .Beats -100%+ 'return' and the aggravation...the establishment costs...and other costs when you really get angry...
Moral of story...if you absolutely have to...sell up in the UK and put the money is a nice trust fund in the UK....ie Channel Islands has some good ones...used them myself many years ago....love those Canada banks, or whatever you think will deliver a decent income for your life in the islands...but certainly keep it out of the Philippines. if you have some spare pesos from that income....in time - throw them at what you think will deliver for you in calibrated and logical amounts....In my mind food is good - protein is very good....they are going to run out soon. Very soon.....

 

Answered!

Davy! this is why I started the Thread 'Living in the PI' there were and still are, a lot of negative thoughts here, if we are going to live here we must STOP! thinking like a tourist and live as a Filipino. It is true that we do need, a Good Honest partner (wife/husband) or we will not make it. We have to be one step ahead and garbanzo is one of those has it in one. There are still a lot of members that have Negative thoughts, why I am not sure? if we use our Western gall and guts we will succeed. There will always be the smart arse that will argue, maybe they are trapped here, there are those that run back to their own country on Rainy days. Integration is the key and I feel a little sorry for those that discounted this and now find it difficult to cope with the way life is here. It sounds as if you have taken all into account and aware of the Pitfalls, Putting money into the PI system is one of them. Good Luck to you and Hope all goes well.


Jack P.

 

When I first arrived in the Philippines I had heard about the special relationship between compadres. My youngest daughter's godfather approached me with a business proposition. He had a sure fire idea and connections to make it go but lacked the capital. We were next door neighbors and socialized together all the time. It was only a few thousand dollars and I let him run the operation while I was working offshore. It was almost comical when he came to me and told me my half of the business was bankrupt but his half was doing well. He didn't seem to understand why I was annoyed. A lesson learned.

 

Well try and understand them. They are offered in the right spirit. They are not so much negative comments; they are voicing opinions based on years of knowledge and their own experiences. And if you are wise, you might just regard some of them as ringing very small alarm bells. There are a million and one pitfalls to avoid and the Philippines buisiness attitude is a whole different mindset. People on the Forum are seeing things from both sides of the coin, and negative and positive comments should at least even up the score and help to give a balanced view. But if you are only interested in hearing and seeing the positive side without considering the potential mine-fields that you might have to navigate, then your rose coloured glasses are working overtime. I wish you well in your endeavours, but at least heed the helpful comments on here and go into whatever business you choose with your eyes wide open.

 

possibly because you have raised three big red flags in your thread
1 buying house/land in gf name
2 buying internet cafe as business
3 buying jeepneys as a business

the only one you havent brought up is setting up as a money lender
to family and friends

 

I "had" an internet cafe, no good, could only take in P20 per hour and that did not cover expenses and equipment costs (electricity as well).
Tried video games at P40 per hour, computers were constantly broken by children, serious internet users left because of the noise, so the kids were only there an hour or two each day to wreak havoc and very few users ever came back.

Bought a jeepney and put my wife's Father behind the wheel, couldn't keep up with the "cheap" tires, gas costs and fierce competition because there were too many jeepney drivers.

I do own a property in my wife's name, but at least I can trust her (5 years together and no trust issues of any kind here).