Hello everyone,
As we navigate the exciting world of living and working in the Philippines, it's essential to make informed decisions about our financial future.
We'd love to hear about the different investment options available for expats: how to invest in the Philippines or in your home country, explore international options or use online accounts.
To kick off the discussion, here are some guiding questions:
What are the investment opportunities as an expat in the Philippines? Are there any specific investment programs?
In your opinion, what are the advantages and disadvantages of investing internationally ? How is your experience with international investments?
What specific points should you consider regarding your investments as an expat (exchange rate management, international tax obligations or repatriation of funds)?
Do you use specialized banking services for expats, such as multi-currency accounts? What are the pros of these services and how do they help you with your finances?
How is the property market for expats? Are there any specific regulations or aspects we should be aware of when investing in real estate in the Philippines?
What strategies do you apply to save and invest for your financial future in the Philippines and/or to secure your children's financial future?
Thank you very much for sharing your experience with us!
Cheryl
Expat.com Team
Secure your financial assets as an expat in the Philippines
@Cheryl
Secure your financial assets as an expat in the Philippines
An important topic for any budding expat which often gets overlooked.
My advice. By not having financial assets in the country you won't take a financial hit.
Don't invest in property and no real need to open up an indigenous bank account. Keep everything offshore and remain solvent with piece of mind.
Even if you are in a stable relationship with a Filipina and purchase property in her name you could become a target. Sometimes the dynamic can change overnight.
KISS Keep it simple (stupid)
As a former real estate investment advisor, I do agree with the previous answer at 1000%!
As often, having nothing is the best. It's like electricity, the best kilowatt is the "negawatt".
Remember Al Ghazali's quote "One possesses only what doesn't risk to disappear in a shipwreck". Apart your knowledge and your serenity, I can't see any other reliable asset in our complicated world. For those who do want some real financial knowledge (I mean people who can quit listening to the talentuous webmarketers who are talking on so-called financial freedom), please start looking at things like Exter's pyramid. It's time for you to do your basic maths and use some logics, some of your memory and your skill when you were 8 years old to connect dots on playbooks. OK, we're in 2023 and no sign of a Weimar's financial collapse repetition...but...who knows?
Eat well, be kind, live a great life! (you will already have 10 times more than Warren Buffet, who is still not free of his finance!)
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