The best way that foreigners can own real estate properties in the Philippines is by purchase of condominium units as long as it does not exceed 40% interest of the whole project. That is why if you are an owner of a condominium, you might notice that there are other owners who are foreigners. Most high end condominiums are appealing to foreign investors especially if they want to start a real estate investment in the country. In the title, the property will be named under the foreigner who bought the property. There are also some townhouses in the Philippines which are sold under a condominium title so this means foreigners are eligible to buy said properties.
In case of lands, these properties can only be owned by Filipinos. You might have noticed a couple, the guy is a foreigner and the woman is a Filipina, transacting with you a Contract of Sale for a piece of land. In this event, the property will be named under the name of the Filipina since under Philippine laws, only Filipinos can own lands. For some foreign investors though who want to buy a piece of land, they normally have a trustee who is a Filipino who will stand as the owner in titling the property.
Some instances that a foreigner can own real estate properties in the Philippines are outlined below:
1. Acquisition before the 1935 constitution
2. Acquisition through hereditary succession provided he/she is a legal heir
3. Acquisition of former natural born Filipinos for residential purpose under BP 185 or for business purpose under RA 8179. Natural born Filipinos who acquired foreign citizenship is entitled to own up to 1,000 square meter of residential land and 1 hectare of agricultural or farm land.
Purchase land as a Balikbayan – The Government of the Philippines has recently passed the Dual Citizenship Act which gives all former Filipinos the right to purchase land within the Philippines.
Cebu Subdivisions and Condo
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