12 TIPS FOR FOREIGNERS TO OWN REAL ESTATE IN THE PHILIPPINESJuly 11, 2022
In the Philippines, there are 122 cities, 81 provinces, and 7,641 amazing islands.
Foreigners are now looking into these magnificent islands we call The Philippines as part of their next investment and their next home.
There are a lot of foreigners visiting the country and a lot of them fall in love with this magnificent Pearl in The Orient and decide to invest, stay and live. The Philippines is a Christian country wherein the people speak good English and smiles are always on the faces of the people around. You will also definitely enjoy exquisite customer service and genuine care from people in this country.
- Foreigners can purchase condominium units and actually own them.
- The exception to the rule is – Foreigners can own a real estate property if it was purchased before the 1935 Constitution.
- Corporations that are at least 60% Filipino-owned are allowed to acquire land in The Philippines.
- A Foreigner who is a legal or natural heir may acquire property through hereditary succession. (This goes for the husband or wife and the children even if he/she is not a Filipino citizen).
- Purchase property by natural-born Filipinos who have already acquired foreign citizenship shall be subject to the limitations prescribed by the law.
- Former natural-born Filipinos can own property in the Philippines, subject to limitations prescribed by Philippine Republic Act 8179 (residential property up to 1000 square meters of urban land or one hectare of rural land) and Batas Pambansa 185 (business property 5000 square meters of urban land or three hectares of rural land).
7. Foreigners may legally own a house or a building in The Philippines as long as the land on which the house or building stands is not owned by a foreign national.
8. Filipinos who are married to foreigners and who retain their Filipino citizenship are allowed to buy land in The Philippines.
9. Foreigners or foreign corporations investing in The Philippines are allowed to lease land on a long-term basis.
10. Foreigners can rent a lot and at the same time legally own the house on rented land.
11. Philippine real estate law does not allow outright ownership of real property by foreign nationals. Filipinos and former Filipino citizens and Philippine majority-owned corporations are permitted to own land, buildings, condominiums, and townhouses.
12. Philippine real estate law does not allow outright ownership of real property by foreign nationals. Filipinos and former Filipino citizens and Philippine majority-owned corporations are permitted to own land, buildings, condominiums, and townhouses.