Moving out capital from PI

[jellyfish]

Originally Posted by jellyfish

Union Jack,What I learned from other foreigners is that HSBC is not charging costs for transfers from Euro's from their HSBC bank in Europe to the HSBC-one they have in the Phils and vice versa.
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Also acc. to my bank (BoC) there are no problems transferring money to another country.
Per transfer they charge you 31.50 USD ,regardless the amount of money you transfer.
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I thought I gave the answers in my previous posts. He (the bank-employee/manager) did not mention any restriction when I asked for it.
Si, if it's not true .....don't kill me but better contact the bank yourself

[kermit]

Originally Posted by Union Jack

Hello there, I think I'll not be the only one in wanting to know how to get money out of the PI. The scenario would be, after buying property, house, lot or whatever and years later, selling everything and wanting to move back to Europe/ USA. For what I can see, if married to a Pinoy/ Pinay, is relatively easy to acquire a property, investing quiet a large sum in the process. The difficulty comes when you want to pack up your bags because it did not work out or whatever other reason...and return "home".
How do you get the money from the sale of all your properties out of the country? If it is somehow possible ( I'm talking legit here), which is the best way without the Authorities making a kill by taxing you over the top and also with the currency exchange, what is the best method? It might never happen, but I think is best to know!!

i just transfered money from BPI to offshore account HSBC isle of man. if you like place philippines then if you split with your partner . buy condo in say cebu or manila rent it out. have a BPI account and use cash card in uk then you have place to come back to and it earning you money i think it was about 8% return . and if you meet another pinoy (lots nice ones here ) again you have place to live