move to Cebu?

[jfred]

A quick question for y'all....  

I just recently received the first noa on the wife's I30.  I have actually been pondering the idea of relocating to PI myself,  maybe Cebu.  So if I were to do that, anyone know if I would have any visa issues of my own?  

Also, with an exchange rate of 51.2, any thoughts on how much of a stake would be needed to get started with a home with a reasonable set of amenities like plumbing, etc?

Thanks gang...

Jim

[shadow]

... in response to move to Cebu?, posted by jfred on Sep 2, 2001

From what info I have been able to gather, a foriegner cannot own property in the PI, unless they are very wealthy, however, they can own the dwelling on it. There are many loopholes and complicated issues involved in doing so, such as squatters rights, etc. If seriously considering this, I would strongly recommend consulting a Philippine attorney, as a good attorney can educate you about the do's and don'ts.

Cebu is getting more expensive every day, but still seems to be quite affordable. A NEW house starts around $10,000, if you look around. I used to have some good links for homes, I'll try to find them for you in the next day or so.

The visa issue really isn't a hard one. You will need to get extensions to the original visa issued, and will have to leave the country once a year. (You can turn right around and re-enter, but you must leave.) One other option is a retirement visa, which requires you to deposit $50,000 to $75,000 in a philippine bank.

Larry.

[Dave H]

... in response to Re: move to Cebu?, posted by shadow on Sep 3, 2001

Larry,

You are correct. I purchased property in the Philippines (with house), but the property could not be put in my name. I guess one could always take their house down and move it. We went through an attorney.

Dave H.

[FilipinaCupid]

... in response to move to Cebu?, posted by jfred on Sep 2, 2001


It is a basic house: electricity, 4 rooms, inside kitchen, outside bath, 2 bedrooms, living room / dining in 1 room.  Floor strong and good roof.  It cost about $2,300US

It is in a good area of simular homes near a college where my sister and brother attend.  They are now living in house.

Cebu is getting more crowded, and costly than when I went to college and worked there, and air not as good.  I would suggest any of the villages along the South coast that are easy drive to Cebu City.

Research your ownership limits as you can own certain things in your name but others in wife's only.  Also, if you do not get married right away the amount of money you deposit in a PI bank make big difference I understand on your status.

Please give us feedback as you do your research as I believe others would like to consider living in my warm country.

Blessings,

jean

[Dingo]

... in response to move to Cebu?, posted by jfred on Sep 2, 2001

If your married to a Filipina then usually no problem moving to the PI as far as the immigration part.
The hard part is living in a 3rd world country.
If you have lots of $$$ or don't mind roughing it.
Go for it.
You may want to rent first incase things don't turn out.
Also you can't own property their yourself.
Condos are ok though
Dingo

[Bear]

... in response to move to Cebu?, posted by jfred on Sep 2, 2001

I haver heard that Cebu is one of the more expenmsive cities in the Philippines in which to purchase a home but that is only hearsay, I really do not know.  It was a nice place to visit though.  Weather was much better there than in Manila or Davao.
Actually lots of people seem to want to relocate to the Philippines but the economy being so slow and job opportunities being near nil, I only know one who has. He just plain retired there forgetting doing business after his computer/cyber cafe was burnt to the ground and him near murdered by those who sold him the property and insured it heavily.

Bear