Should Foreigners Start Businesses in the Philippines? 🇵🇭 | John Smulo
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- เผยแพร่เมื่อ 13 ก.ค. 2024
- If you're a foreigner who is not retired, or even if you are, if you are living in the Philippines or considering moving, finances may be the number one thing you are trying to figure out.
The solution for many is to consider starting a business in the Philippines. However, most people have heard about the challenges and aren't sure if they should take the risk.
In this video I talk about the pros, cons, and solutions to the challenges you will face.
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Some really good food for thought. It is a big learning experience here starting a business. Like the saying goes, "You don't know what you don't know". Working with people here is such a great joy. It's all the legwork to get it rolling that is the biggest pain.
You don't know what you don't know--so true here. The legwork really is a pain.
My business is with alot of others is with my Filipina partner, it is agricultural based in the provinces with growing sugar cane, corn and a piggery. Exploring other avenues and income streams. The idea is to make enough income in the Philippines that we don't have to touch any income generated in the West. The money generated in the West can just be invested in the stock market, etc and grow as a large safety cushion, for generational wealth building or for use in the depths of retirement. Great vid, thanks. 👍 👌 👍
Thank you for asking the question on this and inspiring me to make this video. I really appreciate all of the info on your channel about these things.
@@JohnSmuloTV can I have your email? I did study in the Philippines..I am back in my country but want to come back and work there..can we have a conversation about that if possible?
@@melusinkiwane3544 yes, my email is hello@johnsmulo.com
Great information as always John
Thanks Vicky!
Thanks John nice advise God Bless u always🙏🇨🇦
Thank you Liza! God bless you too.
Hi, John!! Nice video, very infomative
Thank you Winston! 😊
Very informative sir. Thanks
Welcome!
Referred to you by Pea. Great channel John. Subscribed. Thank you.
Much appreciated Jodie. I have second channel recently too www.youtube.com/@WatchCaliforniaExpat
Definitely a good idea sir John! ❤️
For the right person, with the right business idea, agreed! Thanks for watching Jude. Hope you are great!
@@JohnSmuloTV off topic, I love the lights set up of your studio. Did you use soft box here? 👏🏻
@@JudeRicoTechTalk Thank you, yes, two of them.
Its a great knowledge for us
Famous chef Rever! Thank you.
What an interesting topic.
Glad you enjoyed!
Thanks for the information sir john 😀 i really miss your business vlog, every information is soo much worthed ❤.
Thank you so much! Hope to see you again soon.
@@JohnSmuloTV me too sir John 😃
Good vid John A+
Thanks Chris!
Wow! Its always pleasant to hear your cool way and noble thoughts and advises. What a beautiful info Sir John. It will be a great help for everyone. Thank you. Great video...keep it up! God bless ♥️
Thank you so much 😊
@@JohnSmuloTV You are very welcome Sir John♥️
Subbed! I checked your channel and maaaaaaaaan the number of videos you uploaded in 1 year is crazy. I hope you get more subs and views!
I was so curious about you so I did research and found out you own a VA agency! that's awesome what a small world. I'm a freelance VA!
Thank you ☺️ 👍
@@nick9812PH Not exactly but similar. What type of VA work do you do?
@@JohnSmuloTV I provide Administrative support to my clients. You agency is based in cebu?
6 years now.. our water\ice biz is booming. Has been after the first start up year. I did a video on how to not fail with a water biz. Trust me if you are not ready to spend 1.5M peso.. look for something else.
I didn't know you had a channel will check it out. What does most of the expense go to?
@@JohnSmuloTV Start up equipment (the right size) supplies, trikes, ect
Well balanced and thoughtful as usual, John. Westerners get PO'ed if everything isn't ship shape and going full speed. Filipinos are happy if the boat isn't taking on water. If you can't slow down and relax, then island life might be great for vacation, but probably not a good fit for residence - much less a commercial venture...
Thank you for your thoughtful comment Bart.
John your channel has been awesome and your videos are getting even better on the daily. I hope start up tribe is going well for you and I hope to hear from you soon! I hope to visit the philipense someday very great people out their. I think you would make an excellent boss for your business because you have such a positive attitude over everything and everyone! Keep doing great things man. 👊- scott martin
Thank you for your encouragement my friend. It means so much to me. I hope you and your family are doing great.
@@JohnSmuloTV thank you and same to you and yours. I hope to visit the philipense soon someday!
@@paranormalawakening I'm sure you will!
Great info, many foreigners have difficulty managing Filipinos due to cultural differences. “Pwede na”
Yes, its true. Lots to learn, and many ways I want to be more like Filipinos instead of Americans.
Lol pwede na is not a thing anymore for many Filipino workers today because of the lack of job opportunities in the country. Most Filipinos, especially the new generation, are becoming more independent. They want a job at a young age, so they learn to do their best in whatever job they get into. It is a sign that more Filipinos are aware of how important it is to have a job. Maybe because of the effect of social media and the evolution of technology, they were exposed to some of the lifestyles of other developed countries.
Very good. I super like your comment about asking a forienger who is doing business in the Philippines for some time that LOVES PEOPLE and CULTURE :)
Really appreciate your comments Darrell! The support and encouragement means a lot to me. Are you in the Philippines or overseas?
@@JohnSmuloTV Yes, and yes. Davao and Vancouver, Canada :)
@@darrellnelson3203 Got it 😊👍👍
Hi John! Great topic you got here. Nice to hear it from a foreign investor's perspective. My friends from Australia want to register their business here in the Philippines just for the purpose of employees to be tagged as employees instead of freelancers. Is that even possible? Is there a lawyer you can recommend? Thanks John!
Hi Ana, thank you for watching and commenting. I do have an attorney I can recommend though maybe best to send me Facebook message for info or email me at hello@johnsmulo.com. However, if they don't plan on living here it may make a lot more sense for them to use a company like mine as an Employee of Record (EOR). How it works is we provide all of the office space, take care of things like payroll, government benefits, holiday pay, legal compliance, HR and management, computers, etc. But the employees work full time for them. This is a common model in places like the Philippines and much easier than incorporating here and trying to manage employees from a distance. I lived in Australia for 10 years previously and would be happy to talk to your friends too.
Hello What are your thoughts about growing veggies here? comparing the prices with my home country the Netherlands the prices here are SkyHigh greetz from Naga Cebu
Hi Bert, I just had a new employee from Naga start with us a couple days ago. I think lots of competition but also lots of people who want to buy. If you can grow them and also sell them, instead of using a middle man, then you could keep profit margins ok. Do you have experience farming or know people who do?
Great video. Ms. Pea is a good friend of mine and she sent me to you to ask my question.
The question is, I do not want to start a business but I do want start a non-profit for children, mainly to help them with school fees, clothes and supplies and from what I have read I will need to incorporate myself to do this. So is this correct and if so how do I accomplish this? BTW I am retired US military and I will be visiting/moving there soon and I plan on getting an SRRV. I have NO INTENTIONS on making this an income business.
Hi Todd, always good to meet a friend of Pea. I would start off with this information from the SEC website www.sec.gov.ph/foundations/frequently-asked-questions/. Last time I looked into starting the same it was fairly expensive to get started, though I am forgetting exact costs. I would highly recommend having a consultation with a good attorney here initially (expect around $30 for a 1 hour consultation about how to get started). Feel free to reach out to me on Facebook messenger or email in my channel description.
Next is understanding language without asking gf/wife
Haha, that's really something I dream of here. I want to know the language much better.
@@JohnSmuloTV yeah, i know somethings but not much..
What about start a business in the Philippines being remote?
I think it depends on the support you have on the ground here in the Philippines. If you have an idea your thinking through here feel free to reach out to me if you need any help hello@johnsmulo.com
Where _could_ a/the business be registered to qualify as a business for the purpose of job creation in the Philippines and thereby, to qualify for a Business Visa (rather than a Tourist Visa)...little things
Hi Byron, I'll be having another video about these things soon. It's definitely easiest to have someone do it for you, but otherwise its juggling multiple government agencies such as SEC, getting mayor's permit, etc etc.
Good morning. I appreciate your videos about business and life in the Philippines. My question is, is it possible to have a small company or in a personal capacity to import products from the United States or another country? Will the process be simple or complicated? You also know if as an American it is easy to have a residence there. I want to move there in a year and I'm investigating. Thank you for your comments. We'll always have a few beers there to talk about this whole adventure.
Good morning. It depends on what is being imported. For example, phone cases would be easy and food is very hard. If you didn't get a chance to see my video on importing with Dave, you may find it helpful th-cam.com/video/Y0-8eLBMrF8/w-d-xo.html. I'll look forward to those beers :)
Thanks Let me check 😃
hello John
Is it possible to open a small restautant or a food take away business and own 100% of the business?
thank you!!
I don't think so with food business my friend but if you search OPC negative list you should be able to see for sure
@@JohnSmuloTV thank you John
@@matteo2897 Your welcome 😊
New subscriber here! Really nice video.
I think you forget one of the biggest con: you can not own more than 50% of a company unless you invest $200k? And for retail business is much more?
I would love if am wrong and you explain that.
Hi Adel, thank you for subscribing! Happy to have you hear. In terms of ownership, it depends on the legal structure the business is under and also the type of business. For my core business here I structured it as a One Person Corporation (OPC). This means I own it 100% and I didn't have to pay anywhere near that to start. However, my understanding is that depending on certain factors, such as risk, some businesses will take more to start than others with the OPC.
@@JohnSmuloTV thanks for you reply 👍
@@Yougetwhatyoupay My pleasure
@@JohnSmuloTV Are you going to cover in more detail the OPC process and requirements? This is the first time I am hearing about this business option. Do you mind discussing your Visa status?
Hi,
I am an American lawyer with more than 25 years of international consulting experience, primarily in Public-Private Partnerships, PPP, throughout South and Southeast Asia.
Most of my projects were financed by the ADB, based in Manila.
My profile is shown on LinkedIn.
I am getting up in age, but rather than retiring completely I am thinking of offering shares of my Maryland corporation (Osana International Inc, established in 1996) to another American professional(s) to continue running the business as CEO.
Do you know any professionals who might be interested?
Regards, Hal
Hi Hal, thanks for reaching out. I'd be interested to know more. If you have time for a Zoom early next week please let me know. My email is hello@johnsmulo.com
Foreigners should learn from Filipinos and find a way to keep the gov out of their business. For example, stay with online businesses. Even if you have Filipino employees it can be via a web site in the West. Foreigner can communicate via video chat even though he's 2 doors down from the Filipino.
It's really different here then in the west and there needs to be more accountability. I was going to do online business then i would just hire people as contractors but when working overseas and especially in the philippines i find working office based is so important to making sure everybody is doing their best
I'm considering a business involving selling to other Americans or people who speak English who are tourists. My Filipina Asawa ko and the daughters cold help.
Sounds good William. Are you in an area with lots of tourists?
If you want to business in Philippines hired me as a front for your business
Selling food. On the beach. Sorry I left that out.
Sounds like a good plan. Low overhead that way
Be careful with people when hiring an employee or employers. January- hard worker, very vindictive but indirectly. They used people to do their revenge no matter long it takes. February- honest, loyal, but little bit lazy, ego-eccentric and perverse. March- Smart, Compassionate, understanding, but like a short a cut, demanding and can be a cold, cold heart. April- Self-interest, lazy, credit grabber and wicked. May- Hard worker, loyal, honest, enduring, but have a ferocious temper tantrum. June- Business minded, hard worker, like wheeling and dealing, but tricky.
June birthday here. Thanks Ethie.
Yes, people who born in June are smart, business minded. Donald Trump, Elon Musk, Susie were born in June.
Do not start a bussiness in the Philippines
What's your thoughts on where you would start a business and why different than the Philippines for you?
I really enjoyed listening to your excellent podcast about business in the Philippines 🇵🇭. I'm planning to start my own business and I would greatly appreciate it if we could exchange emails. It would be great to meet you in person and invite you for dinner to get to know you better and discuss my interest in the Philippines. Could you please let me know how we can share our email addresses? By the way, I am from Saudi Arabia.
Very nice to meet you. I would enjoy meeting when you are in the Philippines. My email is hello@johnsmulo.com