Expat Community > Philippines

ACEPoolPlayer
Joined 2012
Posts: 2036

Buisness in Philippines, help, feedback

10 years ago

I need some quick feedback. I know we have a lot of pretty experienced and sharp guys on this forum. I met an American businessman last month. He's putting up a business in the Philippines. I spent several days on and off with him. He also met my brother in law an also spent several days with him. He wants to use my brother in law as the trustee to the business with the agreement that any profit goes to him (all in writing of course) and my brother in law gets a agreed payment every month for being the trustee. His reasoning is it takes too long to set up a corporation. He wants to get set up ASAP. My brother in law will also be the production manager with another agreed upon salary. What do you guys think? I'm not familiar with this kind of arrangement. My wife and I will be making the decision for my brother in law who happens to be a recent college graduate, He is very well spoken in English. He won several public speaking competitions.

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