Real Estate Philippines 101

Under the Law of the Philippines, former Filipinos or those who are natural-born Filipinos but lost their citizenships are still entitled to own real estate properties in the Philippines subject to a few limitations. If you are a former Filipino, the following will be a helpful guide:

1. Land must be used for residential or business purposes only.
2. Land acquisition may be through sale, donation, tax sale, foreclosure, or execution sale.
3. If the land is for residential purpose, a maximum of 1,000 sq meters of urban land or one (1) hectare of rural land is allowed.
4. If the land is for business purpose, a maximum of 5,000 sq meters of urban land or three (3) hectares of rural land is allowed.
5. A maximum of two (2) lots not exceeding the maximum limit in total combined area is allowed. Lots must be located in different cities or municipalities.
6. Either rural or urban lots, but not both, can be acquired
7. Either one or both spouses may avail of this privilege, but the above limits must be observed.

Holders of Dual Citizenships are allowed full rights of possession of real estate in the Philippines.

Land ownership is among the hottest issues faced by many foreigners who wish to buy real estate properties in the Philippines. Americans and Europeans are a bit surprised when they realized that they cannot simply buy house and lot packages in the Philippines and have the Land Title placed in their names. In their countries, anyone who can afford to purchase real estate can do so regardless of citizenship. Here in the Philippines, land ownership is confined to Filipino Citizens, corporations with at least 60% Filipino interest, and Dual Citizens or Former Filipinos with some limitations.

View the details of “What Every Foreigner Should Know About Real Estate Ownership in the Philippines”

Foreigners move to the Philippines for various reasons just as Filipinos also move to other countries. Americans were married to Filipinas and learned to love the Philippines during their first visit to the country. The Koreans first wanted to learn English and eventually setup a thriving business. The Japanese chose to retire here after seeing a wonderful place that feels like small city in Japan — reminds them of home without being too far away from it.

Some move to save, others to spend. Some move to escape the heat back home, others to have more of it. Some move to be close to their families, others to be far away from them. Some move temporarily, others permanently.

Whatever your reasons for moving to the Philippines, wouldn’t it be nice to learn something about the place you want to live in?

The following are some of the most valuable tips you will ever have.

View the details of “6 Tips For Foreigners Who Want To Move To The Philippines”