Bi Official Shares Pros, Cons Of Marrying Local

[Ynot]

Looking at XE.com/currency charts, it says the Aus dollar fell from 44 pesos to the dollar to about 39 pesos to the dollar in the last 12 months. So in the last 12 months I have done better keeping my pesos under my pillow than you've done with 4% in an Aussie bank. All that glitters is not gold.

 

What's the record in the Philippines of banks going bust?  And did everyone get their money back??   I was in the Philippines in March when the Aussie dollar was above the US dollar, it was trading around $ 1.02 I think, I never got 44 peso to the dollar, could only get 39 to 41 depending where I changed the money.  

 

Talking about changing money, is there a good place to change, i.e. banks versus money changers..  And which bank is best to change your money???

[Thomas]

there are more reasons than trust to keep your money "offshore" and they tend to do with earning better returns on your investment and security. 

 

Australia's top 4 banks are amongst the most profitable in the world and are backed by the government should ever (which is unlikely) go bust.  The government would step in and ensure the depositors got their money. 

 

Is it true the philippines has a similar gaurantee but the deposit amount protected is not as high? 

 

But in Australia you can earn about 4% on your deposits, not sure what the Philippines deposit rate is!

Yes in the "real" RP banks it's guarantee protections. I believe it's 500 000 per person and per bank.

 

Do you mean deposit rate for deposits to get retirement Visa, or why have money in banks at all??  :) 

 

 

And this also goes if the spouse dies ..... I wonder why he didn't mention that ..

 

Would anyone know? if the spouse dies but you have children,(still a minor(s)

what is your situation then?

or should I ask pinoylawyer.org myself?  :89:

I did read about such situation a year ago, telling then the foreigner is allowed to stay,

but I don't remember if I read it in a common forum or in an official website.

 

But no big problem, because it's possible to stay for ever by extensions and short "Visaruns" anyway. (In an other topic, some told they even prefer that, although being married to Filipinas.)

[Papa Carl]

 

And this also goes if the spouse dies ..... I wonder why he didn't mention that ..

 

Would anyone know? if the spouse dies but you have children,(still a minor(s)

what is your situation then?

or should I ask pinoylawyer.org myself?  :89:

 

 

If you have a half decent Attorney, he can prevent this from happening, by proving that you have Filipino dependents, and therefore if they "boot you out" your dependents will be a burden on the Government. They therefore do not revoke your visa. 

 

This was a question I had for my Attorney before I got married, and also a question I had for the Attorney who we had to go and see at Immigration when he gave me the lecture of "treating my Filipina wife with respect". So I asked him directly, as we have a daughter, and they are both dependent upon my wages, (along with all the rest of my wife's family). Even he said that if I can prove that my daughter would be worse off, without me staying in the Philippines, they would not revoke my visa. (It did help that I quoted from my Attorney the same thing).

 

 

Papa Carl

[Thomas]

This was a question I had for my Attorney before I got married, and also a question I had for the Attorney who we had to go and see at Immigration when he gave me the lecture of "treating my Filipina wife with respect". So I asked him directly, as we have a daughter, and they are both dependent upon my wages, (along with all the rest of my wife's family). Even he said that if I can prove that my daughter would be worse off, without me staying in the Philippines, they would not revoke my visa.

Perhaps it help if sequent years of tax documents say several are depending of your income?