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Jan 10 19, 10:16 am

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How can OFWs invest while abroad?

by | Feature, Property

Jan. 10, 19 | 10:16 am

Investing in the Philippines for OFWs is not as easy as it could be, but it’s definitely doable, says renowned financial literacy advocate, Randell Tiongson.

Citing a MoneyMax.ph article about the best investments for OFWs, Tiongson said most OFWs prefer to invest in real estate rather than other vehicles, one reason being that owning a home is tangible and concrete compared to stocks and mutual funds.

“But buying property from abroad isn’t as straightforward as the other methods of investing,” he cautioned.

“You need to entrust the process to someone physically present in the Philippines, such as a relative. You will have to give them Special Power of Attorney (SPA) to act on your behalf, a form that needs to be notarized by the Philippine consulate,” Tiongson explained.

He said OFWs’ relatives can also apply for housing loans on their behalf, but they will need to provide supporting documents, which vary from bank to bank.

“The property developer will assist you in the process of purchasing from them as well, but it’s your representative that will be handling everything so it’s very important that you pick someone you trust,” Tiongson said.

Investing in the Philippines for OFWs is not as easy as it could be, but it’s definitely doable.

It’s back! The longest-running, most trusted and biggest Philippine investment event in the Middle East region, Philippine Property and Investment Exhibition (PPIE), has helped thousands of OFWs own their very own home. Be part of PPIE 2019 on April 26-27 at the JW Marriott, Deira, Dubai to reach your aspired home. Like @ppieuae on Facebook to get tips and alerts on unbeatable deals.

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THE FILIPINO TIMES is the biggest and most trusted Filipino newspaper in the UAE.

It has a print run of 60,000 copies and 250,000 readership per week; bolstered by 1 million visitors to its website every month. It also has an e-newsletter sent to its 250,000 subscribers every day.

The Filipino Times is FREE and has the widest targeted circulation across the 7 emirates of the UAE.

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

THE FILIPINO TIMES. We are where the Filipinos are.

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