Expat Community > Philippines

christj3
Joined 2017
Posts: 6

Transfer large amount of USD to the Philippines

4 years ago

Hello, my Filipina wife and I live here in the US. I am an US Veteran with good pension and we are starting to look for land in the Tagaytay, Cavite area to live at. I understand some the rules of foreigners not be able to own land but my wife can. We plan to build a house after acquiring the land. My wife still has her BPI bank account in tact and my wife's best friend is a real estate agent who we will give power of attorney since we cant ravel there right now. We have had few land lots we like but our questions are to the forum:

1. How do we/I transfer a large amount of USD ($25K to $40K) to the Philippines without incurring high fees to purchase this land.

2. Going forward after buying the land, we plan to build a house. Again, how do we/I transfer a large amount of USD to the Philippines without incurring high fees.

My wife and I are in the early infant planning stages of eventually moving to the Philippines so I am sure of more questions for the group. Thanks for your time!

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Expat Community > Philippines

Transfer large amount of USD to the Philippines

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