A big reason the locals find it difficult to get decent jobs and get a fair wage is a lot to do with the total lack of foreign investment here..(due to 60%/40% business rule in favour of Filipino partner)Originally Posted by Northerner
Fred, I can see where you're comeing from and to an extent I agree wth you
But I think countries like the phils put these ownership rules in place to prevent far richer foreigners from buying up a lot of land and then charging rent to generations of locals. And given the ratio between the £ and the peso, if they did not have these laws, everyone on this forum from the UK would probably own some land in the phils. Driving up prices beyond what a native could afford.
Im not asking for the right to buy large haciendas..Just enough to build a house and have a garden..
Even If they place limits to a foreigner married to a Filipino to say 2000sq mtrs...I for one would be happy with that...
Imagine the amount of work this would provide for the locals overnight.
Millions of Filipinos own land via hereditary succession..Few of them develop the land and often have to sell as they get behind on their land taxes that they cannot pay as they have no job..
Quite often this land ends up in the hands of either money lenders or banks.
