Can a Foreign National Own a Real Estate Property in the Philippines? Generally, only a Filipino citizen are allowed by the Philippine law to acquire b purchase, transfer or assignment of any land in the Philippines. However, foreign national maybe able able to acquire properties in the Philippines by any of the following: Lease the Property – foreign national can lease public and private land for 25 years with an automatic renewal for 25 years, which is forecast as enough time for your Return On Investment (ROI). This is also an idea to those who are thinking or retiring here in Philippines. Unlike other country such us Thailand or Indonesia, a lease on property for a foreign is very easy and straightforward step to take in the Philippines. This is the easiest, lease time-consuming, and safest safest way for a foreign national to purchase small areas of land within the Philippines. It can be done directly with the owner. Through a Filipino Trustee or Wife - have a Filipino you can trust where you can put the title or ownership of the property in his/her name. This is the most common way for small-scale investor to buy property in Philippines. Purchase Land as a Balikbayan – the government of the Philippines has recently passed the Dual Citizenship ACT (DCA) which gives all former Filipinos the right to purchase land within the Philippines. Buy A Condominium Unit – foreign national can own 100% of the unit but not more than 40% of the entire condominium project. Form A Corporation – You can form a corporation with a Filipino partners with the sharing of 40% foreign – 60% Filipino Capital. This is the most iron-clad form of property ownership for foreign investors, and definitely the preferred form of property ownership for those thinking of establishing a resort, or tourism facility. Inherit the land if your Spouse dies – this simply means, when your Filipino wife dies, you as the compulsory heir, together with your children if you have any, will become the legal owners of her property.
Posted on: Sat, 13 Jul 2013 04:04:39 +0000
Trending Topics
Recently Viewed Topics
© 2015