Buying Land to start a business... Business protection

[Tiger32]

Thx again guys.Yeah. the anti-dummy laws are bit tough read to interpret. Thanks for your "takes" on what I have written. I've followed some rabbit warrens from your links and advice; and will take your advice; avoid any semblance of land ownership, and follow a straight lease structure for land; after use permits have been achieved by the owner.

Can I assume a straight lease scenario, 50 years, with range of uses clearly defined by contract (and approved by national and provincial zoning), and annual payments are pretty fool proof? Assume a competent well-paid lawyer removed from any relationship with the Filipino Lessor. What could/might a greedy or vengeful Filipina landholder do in this situation?

 

One option we are looking at also, is a lease of Barangay land from local government? Better or worse?

 

Edited September 2, 2018 by Chris32

[Tiger32]

Is anyone here from Leyte?

I would love to shout you as many coffee/beer/whiskey's as you can manage in a sitting, in return for your hard-earned wisdom. (cheap deal, I know)

I have some experience of Phils (approx. 3 years on and off) and am very wary, however my potential business partner has some degree of rose coloured glasses pertaining to Phils ;based on having figured out how to manage in another difficult SEA jurisdiction, and considers that Phils would be easier (which I know to be untrue). I've thrown up a few red flags, but would love him to hear how different it is from another source!

(Big ask I realise...but worth asking in case there's someone out there wants to provide a charitable service...karma and all that :) )

[Snowy79]

It might just be me but my spidey senses are picking up on your friend.  I'd be asking if his business was successful why leave it?

I'm hoping this ex pat friend is someone you know from a long way back and not just a drinking buddy you've met on your travels.  We could start a whole new thread on dodgy expats. 

[RBM]

Would appear from quickly reading your posts and excellent replies your on shaky ground. Hard for any of us to advise on the facts written how ever seems a gamble stacked the wrong way.

Their is a simple terminology used by so many, if investing here never more than 1/3 of your nett, as posters have said ensure your well able walk away not to financially hurt. 

So many come with so much and depart miserable with so little, be sure not to be one of them.

[Jack Peterson]

 Business protection

Not much of that for a Foreigner here methinks 

[Mike J]

On 9/2/2018 at 8:23 AM, Dave Hounddriver said:

You can own a share of a lending business which loans out mortgages on land and that lending business can foreclose in the same way as a bank can foreclose.

On the other hand owners of lending business who have to foreclose tend to get shot on a regular basis.  Be sure to consider the risk versus reward. 

[Jollygoodfellow]

46 minutes ago, Mike J said:

On the other hand owners of lending business who have to foreclose tend to get shot on a regular basis.

Only if your last name is Singh 

[fillipino_wannabe]

There isn't much protection here no matter what you do. Only takes your girlfriend to tell the police you hit her and you'll be handing over everything you own by the end of the week anyway.

[Patryk]

I am curious how this actually end up

[RBM]

On 9/2/2018 at 7:46 PM, Tiger32 said:

 

 

 

 

Edited October 7, 2021 by RBM
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