What do I need to know when buying property in Philippines?

"1. Foreign nationals are not allowed to own land in the Philippines, but they can own a condominium in their own name. 2. Foreigners can hold up to 40% of the shares of a Philippine corporation, which can then purchase land or other real estate on the foreigner's behalf. 3. Real estate transactions are subject to documentary and registration requirements, including the submission of valid identification of all parties involved. 4. Mortgages are available from Philippine banks, although some banks may require the borrower to have a valid resident visa. 5. When buying property it is important to research the area and check zoning regulations. 6. It is recommended to enlist the help of a reputable lawyer to help you understand the local laws and regulations, to inspect the property and to help you with the proper transfer of ownership. 7. Property taxes, transfer taxes and other fees are payable on the purchase of real estate in the Philippines, so it is important to calculate these costs when budgeting for a property investment," said another in Philippines.

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SJB Global

SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
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Click connect to have our partner contact you via e-mail and/or phone.

"Research on the ground. Listen for dogs next door (oh there will be!). Roosters (not if but how many and how far away!?). Obviously crime (Iloilo is very cool in that department). Use a lawyer, check title, make sure you are buying in the name of a Filipino (foreigner cannot own land here which is why they can own condos). DO NOT expect the process to be fast or "like home". You aint in Kansas Toto," explained one expat who made the move to Iloilo, Philippines.