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Offshoring in philippines? [banking and business]

If you live in The Philippines, yes. If not, it tends to be pretty difficult. A lot of things need to be done in person, either by formal requirement or simply as a matter of trust.

They still have that old dictatorship era law which puts foreign currency out of reach of local courts and law enforcement. Foreign currency deposits are essentially considered foreign jurisdiction. The law was put in place to safeguard foreign currency deposits by the totalitarian military regime, and it's still in effect.
 

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