4 Reasons Why You Need to Start Saving for Your Retirement

Everybody ages. It takes one year at a time but eventually, your hair turns gray, your vision and hearing starts to falter, and you can no longer do things as swiftly as you can. It’s part of life because aging will come knocking at your door.

When that time comes, you should be prepared not just physically and emotionally but also financially. After all, you don’t want to be still working overseas at your 50s, do you? When you’re in that age, you should be going back home and retiring for good.

This is why you need to start saving for your retirement as soon as you hit foreign soil. In case you’re wondering why, well, here’s why:

1. Spending never stops. 

Sadly, it doesn’t even if you stopped receiving your paycheck in dollars. Utility bills, food, medicine, and school expenses will continuously pour in and there’s nothing you can do but to pay for them. How will you be able to cover for these expenses if you don’t have a retirement plan?

Daily expenditures will never stop, which is why you need to establish your pension from government agencies (which may not be enough to cover daily spending) and look for passive income generator like stocks to help you with the expenses.

2. You will start relying on your children for your needs. 

There is an unwritten rule and obligation that children will take care of their parents. This explains why you keep sending money to your parents as part of your “obligation.”

Do you want your kids to do the same?

While they have moral obligation to do so, you don’t want to be a burden to other members of the family. You also don’t want to use the “utang na loob” argument on your family members too. As much as possible, you want to have your own money so you don’t have to rely on other people to pay for your personal and medical needs – and having a retirement plan can save you.

READ: 6 Tips to Help You Save for Retirement 

3. There is a higher tendency that you will still be working even if you’re aging. 

Your aim is that once you retire from overseas work, you don’t have to work a day in your life because you are already prepared for settling down. If you go back home and look for a job a week after you came back for good, then it simply means you weren’t serious about establishing your retirement plans.

This shouldn’t be your case. Plus, companies are wary of accepting applicants who are almost close to retirement age.

4. Two words: financial worries. 

Do you want to retire and worry about where to get money for your daily expenses? Surely, you have a different perception by the time you went home for good.

Here’s the thing: if you weren’t able to prepare for your retirement, then financial worries will always haunt you the moment you step on Philippine soil.

READ: Financial Milestones Before Retirement 

Therefore, prepare for retirement as early and as soon as you can. Don’t waste your hard-earned money buying things that won’t last. Be wise with your spending and look for other ways to earn extra income – and set aside the money earned for your Retirement Fund. Consequently, invest your money to make it grow. You have to be prepared and starting early is your best preparation.

5 Signs It’s Time to Go Home – For Good

How many years have you been working as an Overseas Filipino Worker? If it’s your first time to work abroad, do you have any plans of going back?

Working overseas is a good opportunity for you to earn bigger and make your dreams happen. You get to earn more compared to how much you’re earning in the Philippines. Apparently, OFW life is not forever. At some point, you have to go back home and settle with your family. The question is when?

Here are signs that tell you it’s time to go back home and for good:

1. You have a house you can finally call your own. 

One of the many things OFWs want to have is to have their own home. Most of the time, your family is renting a house or living with parents. This could be one of the reasons why you decided to take the sacrifice of working overseas to save up for your dream house.

If you finally have a house registered under your name, then it could be a good sign to go back to the Philippines.

READ: Buy Your Dream House with these Tips 

2. There is an Education Fund for your children. 

Education is something that cannot be taken away. This is why you work hard because as much as possible, you want to give the best education for your children.

While you’re abroad, make sure that you save enough for your kids’ education. This fund must be enough to sustain them until college because again, OFW life is not forever. If you have sufficient fund for their education, then retiring in the Philippines may not be an issue since you have one less thing to worry.

3. Diversified investment portfolio is one of your assets. 

Savings will never be enough. You need something that will help your money grow continuously even if you are no longer working. This is where investment comes in.

There are several investment options you can choose from. The best part is you can start for as low as P5,000 to help you make your money grow. Explore your options to help you find out the best options for you.

READ: Investment Options with Less Than P10,000

4. You can start your own business with sufficient capital.

You need to do something while you’re in the Philippines. This way, you can ensure that money comes in everyday without the possibility of going overseas again. Investment will always be a good option, but starting your own sustainable business will help a lot to ensure that you have sufficient supply of cash everyday.

Therefore, you should be able to save enough to help you start your business. If you can, start your own business while you are still overseas to give you enough time to make it grow.

5. Debt, what debt? 

Borrowing money is fine as long as you use it for the right purpose. It is also understandable if you borrow money, especially when you don’t have enough cash to finance important expenses such as costs related to your work abroad. Regardless, you still need to pay them by the time due date comes. When you are about to retire, you need to at least minimize your debt, if not fully pay. This way, you can truly enjoy retirement because you don’t have to worry about monthly amortizations or putting your property at risk for foreclosure.

You don’t want to lose everything you worked hard for, do you?

You might say that these signs are impossible. That could be true, especially when there are a lot of expenses you shoulder. Nonetheless, you can still make this happen. It takes a lot of discipline and commitment, but you can achieve this.

An OFW’s Guide on Getting Your First Credit Card

Do you have a credit card? If yes, then you should still read this. If you don’t have one, then you have more reason to read this.

Getting a credit card can serve you a lot of purpose. You can buy things, especially pasalubong for your family back home (just make sure it is Visa or Mastercard) when you forgot to bring your cash. You can also rely on your card in case of emergency and when cash is not available at that time. More importantly, owning a credit allows you to build your credit score, which plays a crucial role when you apply for a loan.

So, should you apply now?

Don’t get too excited. There are things you need to remember when getting your first credit card:

On Choosing a Credit Card

Choosing a credit card is somehow similar to choosing what toy to buy for your child, the family car, or your dream home – you need to think hard and explore your options. Each credit card offers something that might not be available with the others, which is why you need to look into it closely.

Below are some of the things you need to consider:

  • Eligibility – This refers to the minimum requirements you have to fulfill when applying for a credit card.
  • Interest Rate – Also known as finance charge, the interest rate charged by credit card companies are high. Still, this will only apply if you have a balance from the previous month.
  • Annual Fee – This may be charged once a year, but it is something you can never get from. The first year is usually waived by credit card companies.
  • Penalty Fee – Aside from interest, you will also be charged with penalty fee in case of late payment and no minimum fee was paid OR you went beyond your credit limit.
  • Rewards Program – Every cent spent using your credit card must amount to something. The credit card company’s Rewards Program  should give you waiver for annual fee, air miles, gift certificates, items that correspond to the points earned, or cash back rebates.

As much as possible, go for a credit card that offers low interest rate, penalty fee, and annual fee. Good rewards program is also worth considering.

How to Apply for Your First Credit Card

  • Submit a completed application form to your chosen credit card company. You can get it directly from them or download an application form online. Make sure that all information is true and complete.
  • Prepare at least two government-issued IDs and proof of income like payslip, Income Tax Return, or Certificate of Employment. These supporting documents will help the credit card company verify your identity and determine your capacity to pay.

Tips to Remember when Using Your First Credit Card

Congratulations. You finally have your first credit card. Still, don’t get too excited. There are certain rules you need to follow to make sure that you won’t get in debt. After all, credit card is one of the reasons why people, not just OFWs are in debt.

Nonetheless, here’s what you need to remember:

  • Sign the back of the card as soon as you got it. This way, you will be able to prevent unauthorized credit card usage.
  • Activate your card. Some card were pre-activated, nevertheless, it is best to activate it using the number provided in your welcoming kit.
  • Do not share your credit card details to anyone to avoid credit card fraud.
  • Pay your credit card balance on time and in full amount. Any remaining balance from previous month will be carried over the next month and included in the computation of interest.
  • Set a budget for your credit card usage. Using your entire credit limit is a red flag for lenders, plus it would be harder to pay for it, causing you to accumulate debt.

Are you ready to apply for your first credit card?

Bad Credit History? Here are 5 Ways on How to Fix It

Nobody wants to be in debt. Surely, no one wants to borrow money and not be able to pay it, especially now that you are earning in dollars. Unfortunately, financial difficulties happen and there are expenses you won’t be able to pay on time, which prompts you to borrow money.

You might ask, “What if I am unable to pay?” 

In that case, late or non-payment of financial obligations could affect your credit score, thereby reducing your chances of getting approved when you apply for a loan. The same goes if you have little credit history, which means you haven’t tried applying for a loan or credit card.

Is there a way to fix this? The answer is yes. Here’s what you can do to fix your bad or no credit history:

1) Start building your credit history. 

This is applicable if you don’t have financial obligations under your name.

Take note that credit history is among the most important factors lenders like Balikbayad look into. If there is none, then don’t worry. Now is the best time to build your credit history, starting with getting a credit card.

Credit card companies are more lenient in giving credit card to consumers. This is because this plastic card serves as your entry in the Consumer Lending market. Despite the convenience, make sure you are a responsible credit card holder by paying your bill on time and in full every time you use it for your pasalubong purchases.

If you happen to have bad credit, paying off your credit card debts could reduce your chances of being put in a bad light. In other words, don’t underestimate your credit card.

2) Don’t apply for another credit card. 

If you have existing financial obligations, getting a new credit is a big no-no. You will be tempted to use the card to pay for your purchases even if you cannot pay for the bill in full. Lenders also take this as a red flag because borrowers with too much credit cards in his name often indicates that you are financially troubled.

Resist every temptation to apply for a new credit card and avoid using cards newly issued to you, which leads you to this next tip.

3) Pay off existing loans and bills. 

Online cash loan, personal loan, salary loan, auto loan, car loan, credit card debt, and even utility bills – all of this have an effect on your credit history. Any late or non-payment could affect your overall credit score, which means getting a loan approval can be difficult as well.

Here’s what you can do:

  • List all existing debts and financial obligations. Indicate the amount, interest rate, and due date for each expense.
  • Identify which loans have either higher interest rate or earliest due date. Prioritize these loans when making a payment.
  • Look for ways where you can earn extra. You can try selling items you no longer need or getting a side job.
  • Make little sacrifices. If possible, walk on your way to work, avoid buying material things for your family back home, skip the weekly drinks with colleagues. You need to save money so you can pay off your loans.

Every payment made goes a long way. Lenders would like to see borrowers who have existing debts yet are making efforts to slowly pay off their loans.

4) Try negotiating with lenders. 

This may not work since it depends on your previous credit standing. If you were able to pay on time before, then explain the roadblocks you experienced, which led to delay in payment. Your lender would be willing to help you on this based on the type of borrower you were.

You can also suggest debt consolidation so you will only worry about just one loan. Try negotiating for lower but reasonable interest rate to make loan repayment easier for you.

5) Make sure that your family is working with you. 

All of these efforts won’t be possible if your family back home is not backing you up. It is imperative that you explain the financial situation with your family and collectively, look for ways on how you can pay off your loans and improve your credit score. Encourage your family to save and make little sacrifices as well to improve your financial condition.

Applying for a Business Loan? Here are 5 Things to Remember

Starting your own business is not easy. There are million things you need to do to ensure that it will make it work. Marketing your product or service is another important consideration because this will help define the success of your business. More than anything, you will need capital. 

Being an OFW means you get to earn more than what you can earn here, but this doesn’t mean you have enough capital to start your own business. This is why lenders offer business loans for starting entrepreneurs like you to give you a fighting chance in the market.

Nonetheless, getting a loan for your business is something you need to think about and not rush. To help you decide if this is something you truly need, we listed five things to remember before you submit your loan application:

1. The purpose of the loan

You will never run out of lenders since they are more than willing to extend credit to those who truly deserve it. Nonetheless, they look into the reason why you are applying for a loan.

Before you apply, establish why you need to get a loan. Do you need additional working capital? Are you thinking of expanding or renovating your location? Do you plan to acquire new products to expand your existing inventory? Are you planning on investing in a property where your business will be located?

Lenders will appreciate if you establish the purpose of your loan and make sure you can back it up.

2. The amount of loan

Apart from the purpose, which must be realistic and something that can be achieved, you need to know how much money you are planning to borrow.

It is easy to aim for the maximum loan amount, but lenders are wary of this. They can’t grant you with P1 million if the purpose of your loan is to launch a product. Make an estimate of how much you need and make sure that it is realistic and in line with the purpose of your business loan.

3. The payment terms

Lenders want to get paid every month at this given rate. By the end of the loan term, they expect you to fully pay the amount. When applying for a business loan, don’t be afraid to negotiate payment terms. You can’t do anything about the maturity date, but you can ask your chosen lender to negotiate the rate and payment schedule. This way, you can assure the lender that payment will come on the agreed dates.

4. Loan documents

Each type of loan requires documents. Some loan facilities may be stricter and require more documentation, but the bottom line is lenders will ask you to submit something.

When applying for a business loan, make sure that all the documents are ready when you go there. Check the lender’s list of requirements, which are usually listed in their website for reference, and prepare them as soon as you can. This will reduce the processing time because you have all the necessary documents ready.

5. Your credit score

This is the most important consideration when applying for a business loan, or any other type of loan. Lenders look into this closely because they want to make sure that you are a responsible lender who is ready to fulfill his financial obligations. At the same time, you are in a better position to negotiate loan terms if you have a positive credit rating.

Before you apply, make sure you establish your credit standing first, starting with getting a credit card (which you must pay on time and in full). If you have existing loans, then make sure you pay them as well.

READ: How to Boost Your Credit Standing

Keep these five things in mind because this will serve as your guide on whether getting a business loan is worth it. Since you’re thinking of getting one, keep in mind that Balikbayad is here to help. Fill out our online application form for pre-approval and we’ll get back to you as soon as we can.

If you happen to live in Cebu, we are happy to announce that Balikbayad Cebu is already open. This way, we can better serve OFWs in the Visayas region and allow us to be part of your entrepreneurial journey.

Heads Up OFWs! Balikbayad is Now Open in Cebu

Good news to everyone who live in Cebu and nearby provinces. Balikbayad Cebu branch is now officially open and ready to serve OFWs and OFW families.

But first, who is Balikbayad? 

Balikbayad is under First Digital Finance Corporation, a fin-tech company based in Manila composed of team of professionals with experience in banking, consulting, and technology both in the Philippines and overseas.

The aim of Balikbayad is simple: to help address the financing needs of OFWs. 

Balikbayad understands that securing a job overseas entails costs. This is why Balikbayad was established in 2015 to help OFWs who are in need of financial assistance.

Balikbayad – Cebu, Now Open Of course, OFWs are not just limited to those who came from Metro Manila. There are many of you who came from provinces and Balikbayad recognized that. In fact, Balikbayad saw an increasing demand from Visayas region, which is why they decided to open a branch, particularly in Cebu. This way, they can easily and more effectively offer its services to our modern day heroes in Visayas region.

The application process is still the same. OFW applicants must fill out the online application form for pre-processing. If approved, you will be contacted by Balikbayad representative to sign loan documents and submit additional requirements, which are easy to comply. The good news is there is no need to go to Ermita, especially if you’re from Cebu or in nearby provinces because Balikbayad can offer their services from there.

Headed by BM Dominador Ferrer, Balikbayad – Cebu is located at Room 351, Colon Development Corporation Building, Osmeña Boulevard, Barangay Sto. Nino, Cebu City. For inquiries and other concerns, you can call them at 032-888-7818.

Buy Your Dream Home and Save Money with these 6 Tips

One of the reasons why you decided to work overseas is to give your family a better life. By better life, this includes having a place you can call not just your home but also your own. Apparently, buying your dream house is not as easy as it seems. You have to consider the location, neighborhood, and proximity to hospital, school, and malls among others.

More importantly, you need to consider the cost because owning a house is not going to be easy on your pocket.

Buying a house definitely entails cost, but this doesn’t mean you have grab every sideline you can find just to pay for it. Believe it or not, there are many ways you can still save without compromising your dream home.

1) Be realistic with your choice of home. 

There’s nothing wrong with aiming for that three-bedroom home with two-car garage and a backyard located inside a gated subdivision. While it is an epitome of your dream house, your budget cannot afford it even if you work three jobs.

Therefore, be realistic with your choices. Keep in mind that aside from buying the house, you need to spend few more thousands for renovation in order to suit your needs. Stick to a budget plan and look for options according to that plan.

2) Canvassing is key. 

There are tons of properties offered by a lot of developers in the market. Now that you established a budget, explore your options by looking into what a particular developer can offer based on that budget. Compare and contrast the facilities and amenities to help you decide which one will give you more value for money. Some developers offer similar home characteristics but sell it at different prices – and surely you want to go with a home that helps you save more.

This leads you to this next tip.

3) Don’t rush into buying a new home. 

We understand that you want your family to move out so they can finally settle in the new house. Sadly, that’s not how it works, especially if you want to be able to save. This is why it is important to explore your options first before you say yes to a specific home. Once you say yes, you can never go back and leave the original one behind.

4) Consider foreclosed properties. 

A house developed by DMCI or Ayala might be the perfect one, but can your pocket afford it? If you want to be able to save more, try looking at listings for foreclosed properties. Lenders sell it at more affordable prices with more flexible monthly installments because they simply want to dispose the property and turn it into cash.

Is this safe? Well, this leads us to the next tip.

5) Inspect the house. 

Home inspection is a must when buying a property. You need to personally see the condition of your “future home” and make an estimate on how much money you still need for the repairs and renovation. You can also haggle the price based on this estimate. You also need to personally see the property to give you a “feel” of the surroundings of your possible future home.

Trust your gut on this because if you feel that the house doesn’t feel right, then move on to the next option.

6) Establish your credit standing. 

Remember this: when dealing with lenders, your credit score is among the biggest considerations. If you plan to finance your future home, then make sure that you are in good credit standing. This way, you can negotiate with the rates, thereby helping you save few hundreds or thousands.

READ: 6 Tips to Boost Credit Standing

Buying a home is among the biggest purchases you will make in your life – and you want to make it worth it. Keep these things in mind because these will surely help you when you’re ready to go house hunting.

The Dangers of Applying for Overseas Work Online

Sometime in November 2017, the Philippine Overseas Employment Administration or POEA received several complaints from job applicants about a job they applied to online. It turns out that they applied for an overseas work online, particularly through Facebook, which was posted by a Turkish national and his Filipina wife.

According to the complainants, they were required to send USD 120 to 320 through Western Union in exchange for a job in several hotels. The said amount will be used for the processing of work permit and visa. After sending the money, the complainants did not receive a positive feedback on the supposed job overseas.

This is just one of the many stories that show how Filipinos can be “overwhelmed” with a promised job overseas. In fact, there are many aspiring OFWs who become victims for this type of scheme.

Here comes the dangerous part: scammers lure their victims online, specifically through Facebook.

This is how it works:

  • They post ads about job vacancies abroad and include a POEA license in the post to make it look legitimate. Some illegal recruiters will indicate the number of slots left to make the “job” look more in demand.
  • Once you apply by submitting your application and other documents, the “recruiter” will require you to pay a certain amount to “cover the expenses associated with work permit and visa processing.” You will be given a bank account, Western Union, or Paypal address where you can make payment.
  • After you deposited the said amount, the recruiter will give you updates on the status of your job application until you will never hear from him/her again.

“The job ad looks legitimate,” you might say. Unfortunately, scammers will do whatever it takes just to make someone fall in their trap. This is why you need to watch out for the following red flags or warning signs:

  • Recruitment websites and Facebook accounts with “POEA” in it such as POEA Jobs in Dubai (FB), jobspoea.com, and poeajobsabroad.org. Scammers use “POEA” in their domain name to make them look more legitimate. Keep in mind that there is only ONE POEA and the official website is http://www.poea.gov.ph
  • You are being recruited by a foreign placement agency. This is illegal because both the recruiter and employer have no license to recruit Filipino workers.
  • Unrealistic promises and work conditions like higher salary, free food and transportation throughout the duration of the contract, non-payment of processing and placement fees, and other too good to be true conditions. Some recruiters also promise free accommodation and food plus reimbursement of travel expenses for provincial applicants.
  • You are requested to make upfront payment through a remittance company. This payment will cover the processing of work visa and other travel documents. Consequently, the recruiter asks you to pay other fees to attend “mandatory” seminars and other documentation-related expenses.
  • You are advised to wait for a “very important” email that contains “very important information.”
  • There was never a personal encounter and the recruiter insists that the transaction only happens online for “your own personal convenience.”

How can you avoid this?

  • Check the recruitment agency if it is registered and licensed by the POEA. Use the license number the agency disclosed and check the status here.
  • Verify the job with POEA through its Verification System.
  • Do not pay any fees unless you sign an Employment Contract. Consequently, the fees paid must have a corresponding BIR-issued receipt.
  • Check the address of the recruitment agency. Simply type the address on Google Maps page to verify if a certain establishment does exist.

Still, this doesn’t mean that recruitment agencies who post job vacancies online are not legitimate. There are those who use social media as a platform to inform the people about job openings in certain countries yet the entire application process happens on a personal, face-to-face level.

The point is be more careful and vigilant. Don’t get too excited with too good to be true promises and work conditions. Remember the red flags and tips on how to avoid being scammed and eventually, you will be able to start your journey overseas.

4 Investments Every OFW Must Have before You Retire

OFW Investment“Walang forever,” so they say. In fact, this saying applies in OFW life. Your work abroad is only as good as the duration of the contract, with risk of being cut short due to unforeseen events. Once it ends, you have no choice but to go back and look for another job because you have mouths to feed and bills are piling, waiting for payment.

Does it really have to be that way all the time?

The good news is you change that. It takes a lot of commitment and discipline because you need to make the most out of your stay overseas. While you’re in there, make sure you save up for these investments because these will help you as you head back home – for good:

1) Real Estate

It could be a house and lot, land, or a condominium unit. Whatever it is, it is a property you can call yours. Plus, real estate is a realization of all your hard work and sacrifices overseas, which is why you need to save up for it.

What if you already have your own house and lot? That’s okay. If budget permits, you can purchase another property and turn it into a money. You can offer it for lease or sell it at a higher price (although you need to wait a little longer if you plan on selling soon).

Find out how SSS or PAG-IBIG can help you achieve your dream home.

2) Investment

Aside from real estate, an investment portfolio is something you should save for while you can still work abroad. The reason is simple: it grows your money. If you invest your P10,000 today, there is a higher chance that it will be higher than the original investment amount two or three years after.

There are several options you can choose from. You can start with UITF or mutual fund since these two are pooled funds managed by a professional fund manager. This set-up is ideal if you are just starting with investing and still learning the ropes.

If you are willing to take the risk for higher returns, then try stocks. This is recommended since companies give dividends at least twice a year as well. If you are more on the safe side, government or corporate bonds can be a good choice.

READ: Investment Options Below P10,000.00

3) Insurance

Similar to investment, not many people are into insurance for the simple reason that they “do not understand how it works.” Apparently, you will need one, especially if you are after peace of mind.

You can go for life or health insurance to protect your family against financial burden in case something happened to you, although these are the traditional ones. Insurance companies offer products like Variable Universal Life (VUL) where you are insured and money is invested both at the same time.

4) Business

You need something that will sustain you and your family as you go back to the Philippines. Even if you have enough to get by, the money in your savings account will be depleted – and you don’t want that to happen.

What can you do? Try to put up your own business. Start your own while you’re still overseas or your spouse can put it up so s/he has something to do while you’re away. Plus, you and your family get to earn something extra, so they don’t have to depend solely on remittances. How can you say no to that?

READ: Business Ideas You Can Try with Little Capital

You will have to go back home and settle here. Prepare for that day to come by saving up for these investments. This will lead to a more comfortable life as well.

How Much Does It Cost When Applying for Work Overseas?

Going overseas to work for bigger pay is one of the many things Filipinos consider. Can you imagine not just earning in dollars but also earning twice or thrice more than your salary here? It’s tempting, don’t you think?

Apparently, working abroad is not easy. Aside from the gruesome application process, applying for work overseas means there is a price to pay as well – and it’s not a cheap one. This could be the reason why many Filipinos sell whatever they could sell just to pay for these fees.

This leads you to the next question: how much does it cost to apply for work abroad?


POEA-licensed recruitment agencies are allowed to charge placement fee, which is equivalent to one-month worth of your salary abroad. This is necessary because said amount is used by recruitment agencies to sustain their businesses. Take note that the basis of computation should be on the salary stated in the POEA-approved employment contract.

Can the recruitment agency require you to pay the placement fee upon application? The answer is no. 

In fact, the agency could only deduct the fees once you signed the employment contract. In return, the agency will give you BIR-registered receipt, which shows the total amount paid. If they insist on you paying the said fee, then you need to think twice about your chosen recruitment agency because there is a possibility that you will be scammed.

Can you pay only half of the placement fee first? That would depend on your arrangement with the recruitment agency. 

You can choose to pay half of the fee upon signing of contract and the other half once you have the plane ticket and other travel documents. This could be a good arrangement if you cannot raise the entire amount upon signing of contract.

READ: Practical Ways to Raise Money for Placement Fee

Nonetheless, not all overseas workers are obliged to pay placement fee. Seafarers, household service workers, and caregivers are exempted. There are also countries that ban collection of placement fee, which includes:

  • United Kingdom
  • USA (under H2B visa)
  • Ireland
  • Netherlands
  • Canada
  • New Zealand


The good news is you won’t shoulder all expenses. There are fees that must be shouldered by employer, which includes:

  • Working visa
  • Roundtrip airfare
  • Work and residence permit
  • OWWA membership fee amounting to USD 25
  • POEA processing fee of P200
  • Insurance coverage
  • Transportation to the jobsite
  • Additional tests or assessment, especially when the job so requires


You will need to submit certain documents in order to process your job application. This would also mean shelling money to produce these documents.

Here are the requirements you need to submit:

  • Passport – P950.00 for regular and P1,200.00 for express
  • NBI Clearance – P150.00
  • Police and Barangay Clearance – amount depending on your location
  • PSA-authenticated birth certificate – P330.00
  • Philhealth contribution – P2,400.00
  • PAG-IBIG contribution – P100.00
  • Medical Exam – amount varies per clinic

You might find these fees overwhelming and too much for you wallet to handle. Unfortunately, not all fees can be waived completely, so it is best to save up for these fees as early as possible.