Wednesday, April 21, 2010

What is the best way to start a business or live in the Philippines and generate income from the USA

What is the best way to start a business or live in the Philippines and generate income from the USA?
I am a US Citizen, and have a fiancee in the Philippines. I have money to invest, and more than 15 years of business experience. I have tried to get a job with the Embassy, however these seems to be very difficult. Outsourcing is a grand idea, do you know comapnies looking currently?:)
Philippines - 8 Answers
Random Answers, Critics, Comments, Opinions :
1 :
I know of three people from Mexico and South America that built up a business thru EBAY. May or may not help you.
2 :
Outsource IT development there with local labor.
3 :
Getting a Job in the Philippines will not be an option for you.creating jobs maybe. What I would do if I were you.wait till your married have her come to the USA and get a us citizenship. then if she's 35 years old apply for Philippine retirement visa so this way you are allowed to come and go to/from Philippines with little amount of money needed for deposit. If you retire in Philippines as a US only citizen you will need $50,000 or more depending on your age, to deposit in the Philippine National bank. If your wife becomes a us citizen retires in Philippines at 35yrs old with retirement visa then only $1,500 is needed to deposit. I myself had looked into joining and talking to the chamber of commerce in Cebu and talking to the Philippine American chamber of business in manila that would be a great source of info for you. I hope this helps you in some way
4 :
In Santa Rosa just south of Manila the Ford motor company are building a new factory and they need American bosses for the plant, or in same area they building a coca cola bottling plant. Want your own business and got the cash to back it then talk to Jolly Bee about a franchise, very popular in philippines. How about selling property, have a word with LPHI or Ayala in Makati. If you want to buy a hoe then again have a word with LPHI. LPHI has just changed its name to AVIDA
5 :
No offence, but your business experience in the U.S. won't mean much in the Philippines. An idea might make perfect sense and be totally logical to you, but Filipinos use a whole different rulebook. It's a totally different culture and business environment. That said, if you know Filipinos in the Philippines that you can trust, and that have business experience then there is money to be made. You said you have capital... that's good; the people here are desperate for capital. If I was older and had money to invest (and maybe a pension) I would definitely consider living here my wife and child and running a business. Alas, I am young and have credit cards and student loans to pay first... which is why I am going to back to America in a few days (after spending 8 out of the last 12 months here) to work and earn dollars, not pesos. Also, as far as I know, if you are married to a Philippine citizen you can get a work permit allowing you to work. Of course, whether you want to work 8 hours a day for $4 is up to you.
6 :
Buy real estate in US, rent it out, live in the philippines off the money you make from your properties
7 :
Try money lending business (similar to what Filipinos call "5-6"). Many small to medium sized entrepreneurs are constantly on the lookout for new sources of capital and many even go to loan sharks. It is very difficult to acquire loan from banks because of too many requirements and red tape.
8 :
oil and petrol products that is our major problem here

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