New moves make the Philippines more attractive to overseas property investors, it is claimed

[Nicholas Wallwork]

The reasons for investing in property in the Philippines are increasing with the World Bank ranking the country as one of the world’s 10 most improved economies in terms of facilitating trade and investment across borders. The Philippines has improved seven places in the last year alone from 68 to 61 in the World Bank’s [...]

Click to Read The Full Story and Add your Own Comments to New moves make the Philippines more attractive to overseas property investors, it is claimed

 

[crendonman]

Investing in Phils

As long as everyone understands that foreigners, (that is anyone who is not a Filipino) even if they are married to a Filipina cannot own land, unless they inherit it.

You can start a Corporation, but cannot own more than 40% of a Corporation, 60% must be owned by Filipinos.

Any Sub agreements that try to circumnavigate the above, just wont wash with the Phils legal system .

I have property in Phils and own outright a Condo in Makati (this is OK).

Just a few helpful hints ....buyer beware!

 

[maricel88]

Foreigners can own Condominium property in the Philippines, and most condominium projects are located within the Central Business districts, commercial areas and institutions.

 

[Dave_Velasco]

Yeah Philippines is actually a good place now for property investors but as far as the percentage of ownership is concerned, they may have some hard time getting it or at least fixing it. There are actually a bit of hardly understandable limitations sometimes when it comes to owning in their place. But I guess they are a bit improving now.

 

[DamarTBJ]

As long as everyone understands that foreigners, (that is anyone who is not a Filipino) even if they are married to a Filipina cannot own land, unless they inherit it.

You can start a Corporation, but cannot own more than 40% of a Corporation, 60% must be owned by Filipinos.

Any Sub agreements that try to circumnavigate the above, just wont wash with the Phils legal system .

I have property in Phils and own outright a Condo in Makati (this is OK).

Just a few helpful hints ....buyer beware!

Wow it's a similar regulations here in Indonesia, although our government policy about the share in one company can be near 100%. As long as the company is established under Indonesia regulations no matter what nationality of the owner can buy a property in Indonesia.

Second, there is no inheritance rules. As long they are not Indonesian citizen simply can't own land in free hold deeds, but the government gives several option which is also save but need to be renew every 25 years+. I wonder does Phils have the same regulation or strictly no to foreign investor for property?

 

[juhdy]

Crendonman is right! A foreigner can own a condominium but not a land. If they really want to invest on real estate in the Philippines, they will need to form a Philippine-based Corporation to take ownership of the property.

 

[crendonman]

juhdy,

Your statement is misleading

Even if a foreigner (or foreigners,) form a Philippine Based Corporation , they cannot ever own more than 40% of the Company, 60% must be owned by Philippine Nationals.

Better to own a condo in your own name. It saves so much hassle, believe me I have been there (and am still there)!

Dummy companies and or Sub Agreements to try to overcome the above will not be entertained and is in fact illegal.

That in mind, you would then risk all by trying to beat the system, rather than work within the Law.

Cheers

 

[Kristine]

I can see that Philippines is now really improving a lot. Places in the Philippines are really nice and beautiful, it's also a nice place to live with.

 

[jilllianicc]

On top of this, global financial institutions are stating that the Philippine economy is continuing its growth, making now an ideal time to invest in a property in the Philippines. In fact, there is also an upward trend in the real estate selling and renting markets, due in part to foreign companies that choose to expand their businesses in the country.

 

[myluxureal]

Philippines is a really good country to have a good property in terms of Real Estate. Either in the city or in the province, i'm sure that things are really good and it would make things work out pretty well for the good of your investment. Try to search out other reviews and see how good the country is.
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