Isnt it unfair to the other part of the world while we keep complaining that there is no job in Philippines.The Philippine constitution on business creation should be changed so that our people will also have sence of responsibility.
Why Foreigners can not own business in Philippines when Filipinos can own properties %26amp; business abroad?
I have no idea. It's just nice to see a question accusing country other than the US of xenophobic policies and protectionism.
Why Foreigners can not own business in Philippines when Filipinos can own properties %26amp; business abroad?
A foreigner can own up to 40% of a business. The foreigner must take a Filipino partner who owns 60% of the business.
Usually this means that the foreigner must put up 100% of the money and pray every day that his partner does not loot the business of all it's assets. This policy is one of the primary reasons why places like Vietnam, Thailand, Malaysia, Singapore, Hong Kong, etc... are booming and the Philippines is not and has never been.
