HomeHunters Hub PH

QUESTION FOR THE DAY:
Can a foreigner own condo in the Philippines?

Mga foreigner na gustong mag-stay o mag-invest sa Pilipinas, condo ownership is a big yes.

Foreigners can acquire condo units but not house & lot without Filipino spouse. So kung gusto nyong mag-invest or mag-relocate, condo is a good option na.

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Consult a Professional:
It is advisable to consult with a qualified property advisor or real estate professional to ensure all requirements are met and to verify the foreign ownership status of a project before purchasing.

For more info and assistance on purchasing a property
click "Send Message"

#PhilippineRealEstate #PhilippinesProperty #RealEstatePH
#PropertyPH #HouseAndLotPH #PropertyForSalePH #InvestInPH #PhilippinesRealty #DreamHomePH #homegoalsph

4 months ago | [YT] | 0

HomeHunters Hub PH

QUESTION OF THE DAY:
Can a foreigner own property in the Philippines?

No, foreigners cannot directly own land in the Philippines due to constitutional restrictions, but they can acquire property through specific avenues like purchasing condominium units (subject to a 40% foreign ownership limit per project), forming a Philippine corporation with at least 60% Filipino ownership, entering long-term land leases, acquiring property through hereditary succession as a legal heir, or being a former Filipino citizen.

Ways a Foreigner Can Own Property

Condominium Units:
Foreigners are allowed to own condominium units, as the unit represents a share in the condominium corporation. However, foreign ownership in any given condominium project cannot exceed 40%.

Philippine Corporation:
A foreigner can establish or invest in a Philippine corporation with at least 60% Filipino ownership to purchase land.

Long-Term Land Lease:
Foreigners or foreign corporations can lease land for long-term use, providing a workaround for direct ownership.

Hereditary Succession:
Foreign nationals who are legal heirs to a property can acquire it through hereditary succession, as long as they are included in a valid will.

Former Filipino Citizen (Balikbayan):
Former natural-born Philippine citizens are permitted to own property in the Philippines, though with some limitations on land size for residential or business purposes.

What is Not Allowed

Direct Land Ownership:
Foreign nationals are generally prohibited from directly owning land in the Philippines.

Owning Land with a House:
While foreigners can own buildings, they cannot own the land on which the building is built.

---------
Consult a Professional:
It is advisable to consult with a qualified property advisor or real estate professional to ensure all requirements are met and to verify the foreign ownership status of a project before purchasing.

For more info and assistance on purchasing a property "Send Message"

#PhilippineRealEstate #PhilippinesProperty #RealEstatePH
#PropertyPH #HouseAndLotPH #PropertyForSalePH #InvestInPH #PhilippinesRealty #DreamHomePH #homegoalsph

4 months ago | [YT] | 0