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Expat Community > Philippines

 classic view

Foreigners owning real estate

5 years ago
I have noticed a very big error in what both Filipinos and foreigners BELIEVE is true about foreigners owning real estate in Phils. They tell corect about CONDOS,

but - against what many say even lawyers - foreigners CAN own part of land through a company of which the foreigner own max 40 % of. There are conditions needing to be fullfiled as e g the company has to NEED land for it's BUSINESS.

(There are some other ways but they need special things to happen or have problematic blocks.)

(I heared just a few days ago about a law leting foreigners own whole land with max size 5 hectares, BUT I haven't got info about which law, so I couldn't check it. I believe it when I see it... :)
There are a lot of rumours in Phils of which several are false :) and some of them I wonder how they even can believe so.

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