First of all there is a great long list of professions and businesses prohibited to foreigners outright. Unless you are employed by a local firm or an international one with Philippines offices, you can’t be a doctor, lawyer, engineer, chemist, pharmacist, vet, nurse, dentist and so on.

Then there are the activities that are totally taboo such as anything to do with weapons and ammunition, nuclear fuels and so forth. They also prohibit licentious and lewd activities so think carefully before investing in that girlie bar in Angeles.

Once all of that is taken into consideration there is the list of business types that require varying percentages of local ownership. Without hundreds of thousands of dollars and in some cases millions of dollars of turnover you can’t even contemplate retail. Forget transportation, fishing, farming and tourism unless you meet strict criteria.

Of course there are exceptions and ways to abide by the rules and still achieve your business objectives but do be careful of using dummy owners and front people because there are separate ‘Anti-Dummy’ laws to add years to your sentence if convicted.

You also need clearances, permits, approvals and all sorts of paperwork because as a foreigner you will be noticed. Someone will resent your becoming competition and get a thrill out of throwing their weight around and showing the ‘Kano’ who is boss in their own country.

Get the book. At US$29.99 in eBook format and US$39.99 in hard copy paperback from Lulu.com it is a very sensible investment.

Related posts:

1. Hobby Or Serious Income Producer?
2. So You Want To Start A Small Business In The Philippines!