Wednesday, January 15, 2014

British expat residing in the Philippines recounts investment and employment woes


I am British, and moved to the Philippines from Hong Kong in May 2001, with a Filipina I met there. After my divorce was finalised, we married in June 2002 and I obtained 13A Visa in November of that year. I was Engineering Manager – Asia Pacific, earning US$85,000pa, but effectively retired early in Cebu Philippines.

I was obtaining good income from Peso Time Deposits in Rural Banks. That is until the Monetary Board closed all 12 Banks of the Legacy Group in December 2008. It took the PDIC from 6 months to 22 months to pay out the Insured Deposits in 5 x Rural Banks.

I invested in a local company, that was supposedly importing Chinese motorcycles (Zongshen) assembling them and supposedly selling via a growing chain of shops to market, sell, service and support with spares (as well as Appliances).

We filled a 'Syndicated Estafa' Court Case against Catherine L. Soronio in May 2008. She no doubt used the funds (up to Php350M allegedly?) we (the investors) had given for the motorcycles, for some other purpose. No doubt including paying for Lawyers to get the cases down turned from Syndicated Estafa – twice! Just delay, delay delay (which would not have happened if she was in Jail as Syndicated Estafa is non-bailable) – no real progress to getting our money back nearly 5 years later!

I applied for a Job in a Call Center in Cebu (Sykes), and was told I had passed, but because a Foreigner needed clearance from Head Office. No Offer Letter was forthcoming.

So I sought work as a Native English Speaker – ESL Teacher. Full time work as such is difficult to find, apart from seasonal Winter and Summer 'English Camps' to Korean students and the like.

I can earn more money, for less hours, as an Native ESL Teacher in China, and indeed, I am on my 2nd year of teaching there.

I would prefer to earn a decent salary, in the Philippines, as a Permanent Resident, making use of 35 years experience as an Engineering Professional (IEng MIEEIE).

Alternatively the Legal System of the Philippines, not be so corrupt and slow and get back some Php10M I lost to local ventures!

Source:
http://getrealphilippines.com/blog/2014/01/filipino-labour-force-not-up-to-par-philippines-ready-to-host-foreign-workers/comment-page-1/#comment-201145

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...