Need Advise on DUAL CITIZENSHIP??


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Need Advise on DUAL CITIZENSHIP??

Postby Sophia7 » Thu Oct 17, 2019 1:39 pm

    

Guys, I need your advise if shall I apply for dual citizenship?

What are the "pros and cons" of getting Philippine citizenship as well? Do I pay taxes to both U.S. & The Philippines countries? If you have dual citizenship, please share your thoughts. Thank you.


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Re: Need Advise on DUAL CITIZENSHIP??

Postby Stoichio » Thu Oct 17, 2019 1:45 pm

Better ask Samantha Lo.
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Re: Need Advise on DUAL CITIZENSHIP??

Postby Sophia7 » Thu Oct 17, 2019 2:30 pm

Stoichio wrote:Better ask Samantha Lo.


Nah, maybe I will ask Samantha Hi .

Stoichio, Stoichio - kumusta Dong?
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Re: Need Advise on DUAL CITIZENSHIP??

Postby meenakshit chaudhary » Thu Oct 17, 2019 3:46 pm

Sophia7 wrote:Guys, I need your advise if shall I apply for dual citizenship?

What are the "pros and cons" of getting Philippine citizenship as well? Do I pay taxes to both U.S. & The Philippines countries? If you have dual citizenship, please share your thoughts. Thank you.



It will be to your advantage if you get a Filipino citizenship because you will have a strong sash if you join an international beauty pageant, particularly Miss Universe.
Even Now What will anticipate your arrival even if you are one-week late.

.....and, with your beauty and intelligence, you will have 99.9% chance of winning Miss Earth.

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Re: Need Advise on DUAL CITIZENSHIP??

Postby mrgary » Thu Oct 17, 2019 6:48 pm

It will be an advantage to have a dual citizenship if you want to acquire a real estate property in the Philippines especially land. If you like to own a company, say, a corporation in the Philippines and register it through the company registration system of the Security Exchange Commission, the Philippine Constitution mandates it to be 60% Filipino and only 40% foreign ownership, which puts you at a disadvantage if you only carried a blue passport. However, if you carry a Philippine passport, you become the majority of the company ownership. Aside from business, you can also avail of the government programmes such as PAG-IBIG, GSIS, and SSS for housing loans, pension benefits, etc if you opted to be low-key. I am personally doing it because of the nature of my business. I also want to give back to the Filipino community by providing them jobs from the foreign investors I venture with.
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Re: Need Advise on DUAL CITIZENSHIP??

Postby Sophia7 » Thu Oct 17, 2019 8:49 pm

mrgary wrote:It will be an advantage to have a dual citizenship if you want to acquire a real estate property in the Philippines especially land. If you like to own a company, say, a corporation in the Philippines and register it through the company registration system of the Security Exchange Commission, the Philippine Constitution mandates it to be 60% Filipino and only 40% foreign ownership, which puts you at a disadvantage if you only carried a blue passport. However, if you carry a Philippine passport, you become the majority of the company ownership. Aside from business, you can also avail of the government programmes such as PAG-IBIG, GSIS, and SSS for housing loans, pension benefits, etc if you opted to be low-key. I am personally doing it because of the nature of my business. I also want to give back to the Filipino community by providing them jobs from the foreign investors I venture with.


Thank you. This is very helpful!

Do you declare your Philippine income when you file taxes here in the U.S>?
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Re: Need Advise on DUAL CITIZENSHIP??

Postby sophocles » Thu Oct 17, 2019 11:41 pm

U.S. citizens are taxed on worldwide income - that includes income earned in the Philippines. Filipino citizens are taxed only on income derived from sources within the Philippines.

You may be subject to double taxation for income earned in the Philippines because the U.S. taxes based on citizenship, while the Philippines taxes based on income earned in the Philippines. However, you need to consult a tax attorney to verify if the U.S. and Philippines have a tax treaty to avoid double taxation of citizens.

As for owning real property in the Philippines, if you're a former natural born Filipino, you can acquire up 5,000 sqm (that's almost 54,000 square feet in the U.S.) of residential land, or 1 hectare (2.5 acres in the U.S.) of agricultural land. So, unless you plan to be a haciendera, you don't need dual citizenship to own land in the Philippines.

On the practical side, beware that if you are a dual citizen and you figure in a crisis overseas, either country of citizenship may end up not coming to your assistance on the assumption that your other country of citizenship is in a better position to assist you. You are dealing with a bureaucracy where task avoidance is the rule.

I would not advise you to apply for welfare (GSIS, SSS, Pag-ibig) as a dual citizen. In the first place, the welfare programs in the U.S. are more generous. More importantly, it would be better to leave welfare benefits in the Philippines to poor pinoys.
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Re: Need Advise on DUAL CITIZENSHIP??

Postby Sophia7 » Fri Oct 18, 2019 12:22 am

sophocles wrote:U.S. citizens are taxed on worldwide income - that includes income earned in the Philippines. Filipino citizens are taxed only on income derived from sources within the Philippines.

You may be subject to double taxation for income earned in the Philippines because the U.S. taxes based on citizenship, while the Philippines taxes based on income earned in the Philippines. However, you need to consult a tax attorney to verify if the U.S. and Philippines have a tax treaty to avoid double taxation of citizens.

As for owning real property in the Philippines, if you're a former natural born Filipino, you can acquire up 5,000 sqm (that's almost 54,000 square feet in the U.S.) of residential land, or 1 hectare (2.5 acres in the U.S.) of agricultural land. So, unless you plan to be a haciendera, you don't need dual citizenship to own land in the Philippines.

On the practical side, beware that if you are a dual citizen and you figure in a crisis overseas, either country of citizenship may end up not coming to your assistance on the assumption that your other country of citizenship is in a better position to assist you. You are dealing with a bureaucracy where task avoidance is the rule.

I would not advise you to apply for welfare (GSIS, SSS, Pag-ibig) as a dual citizen. In the first place, the welfare programs in the U.S. are more generous. More importantly, it would be better to leave welfare benefits in the Philippines to poor pinoys.


Thank you so much. This is what I thouhgt in terms of taxation. This will help me a lot. Anyway, U.S. citizens can stay in the Philippines for 6 months, right?
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Re: Need Advise on DUAL CITIZENSHIP??

Postby Virginia Dalisay » Fri Oct 18, 2019 12:45 am

Sophia, why all of a sudden eh biglang gusto mong mag dual citizenship, any problem there in the US? 8-> 8-> 8-> 8-> 8-> :)>-

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Re: Need Advise on DUAL CITIZENSHIP??

Postby sophocles » Fri Oct 18, 2019 1:42 am

Sophia7 wrote:
sophocles wrote:U.S. citizens are taxed on worldwide income - that includes income earned in the Philippines. Filipino citizens are taxed only on income derived from sources within the Philippines.

You may be subject to double taxation for income earned in the Philippines because the U.S. taxes based on citizenship, while the Philippines taxes based on income earned in the Philippines. However, you need to consult a tax attorney to verify if the U.S. and Philippines have a tax treaty to avoid double taxation of citizens.

As for owning real property in the Philippines, if you're a former natural born Filipino, you can acquire up 5,000 sqm (that's almost 54,000 square feet in the U.S.) of residential land, or 1 hectare (2.5 acres in the U.S.) of agricultural land. So, unless you plan to be a haciendera, you don't need dual citizenship to own land in the Philippines.

On the practical side, beware that if you are a dual citizen and you figure in a crisis overseas, either country of citizenship may end up not coming to your assistance on the assumption that your other country of citizenship is in a better position to assist you. You are dealing with a bureaucracy where task avoidance is the rule.

I would not advise you to apply for welfare (GSIS, SSS, Pag-ibig) as a dual citizen. In the first place, the welfare programs in the U.S. are more generous. More importantly, it would be better to leave welfare benefits in the Philippines to poor pinoys.


Thank you so much. This is what I thouhgt in terms of taxation. This will help me a lot. Anyway, U.S. citizens can stay in the Philippines for 6 months, right?


Hija, if you're a former citizen, you have one year. If you're not a former citizen, you can stay visa free for 30 days, or you can apply for a tourist visa and stay for up to 59 days.
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Re: Need Advise on DUAL CITIZENSHIP??

Postby mrgary » Fri Oct 18, 2019 1:51 am

There is no danger being a dual citizen for as long as you know when to use the appropriate passport as you enter a foreign country. As a rule of thumb, use the blue passport when you go to the majority of other foreign countries except North Korea(?), Cuba(?)and other countries that do not have strong ties with the US. As I've said before, it is also wise to receive retirement benefits in the Philippines no matter how meager it is. After all, small is better than none at all. It is even wiser when you have retirement benefits from both countries. If you are from the US, why bother to buy a 5,000 sq-meter lot when it's only half a hectare? Land properties in the Philippines never depreciate in value as compared with the US. Right now, the Philippine economy has greatly improved since the past six quarters. The best time to invest in the Philippines is now and you will even have the upper hand if you are also a Filipino citizen.
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Re: Need Advise on DUAL CITIZENSHIP??

Postby moschino8 » Fri Oct 18, 2019 2:13 am

thread starter is an illegal immigrant. reporting to ICE now...
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Re: Need Advise on DUAL CITIZENSHIP??

Postby Fangit Ka » Fri Oct 18, 2019 3:50 am

DO NOT GO TO PARIS if you have fake documents.

You will get detained, your panties won’t get washed for days, you won’t get to your connecting flight, and you WILL be deported!

But nothing will stop you from spreading FAKE NEWS that you simply missed your connecting flight and are trying your best to get another ticket to your destination, even though you had actually been deported already and are back home and can’t even get out of the house out of shame!

Do not be a traitor, a liar, and a stupid imbecile all at the same time! [-X
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Re: Need Advise on DUAL CITIZENSHIP??

Postby Dirty Vasooka » Fri Oct 18, 2019 9:25 am

great thread...educational
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Re: Need Advise on DUAL CITIZENSHIP??

Postby Sophia7 » Fri Oct 18, 2019 6:01 pm

mrgary wrote:There is no danger being a dual citizen for as long as you know when to use the appropriate passport as you enter a foreign country. As a rule of thumb, use the blue passport when you go to the majority of other foreign countries except North Korea(?), Cuba(?)and other countries that do not have strong ties with the US. As I've said before, it is also wise to receive retirement benefits in the Philippines no matter how meager it is. After all, small is better than none at all. It is even wiser when you have retirement benefits from both countries. If you are from the US, why bother to buy a 5,000 sq-meter lot when it's only half a hectare? Land properties in the Philippines never depreciate in value as compared with the US. Right now, the Philippine economy has greatly improved since the past six quarters. The best time to invest in the Philippines is now and you will even have the upper hand if you are also a Filipino citizen.


Great! Thank you.
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