FOREIGNERS ALLOWED TO OWN A PROPERTY IN THE PHILIPPINES?

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Are you a foreigner who wants to own a property in the Philippines for investment, residential, or retirement purposes?
In this video, I will discuss what foreigners should know about owning a property in the Philippines.
As a general rule, ONLY FILIPINOS can own Philippine lands so that they will be preserved for future generations of Filipinos. However, foreigners can still acquire or enjoy real estate properties in the Philippines in the following ways:
1. Buy a condominium property.
2. Set up a domestic corporation in the Philippines.
3. Marry an individual with Philippine citizenship.
4. Inherit land or any other property.
5. Own a house but lease the land.
By the way, if you are a natural-born Filipino or a former Filipino watching my video, I’ll make a separate video for you
Video filmed at UNWND Lux Hostel. Read more about it at loveanllo.com/unwnd-lux-hostel/.
Me-An Clemente, PRC Licensed Real Estate Broker
PRC REBL No. 0021476
📱 0976 003 5684 (Mobile/ Viber)
📧 ownpropertyphilippines@gmail.com
♪ Tiktok: / ownpropertyph
📷 Personal Instagram: / curlymean
📚 Facebook Page: / ownpropertyph
📷 Business Instagram: / ownpropertyph
#RealEstate #OwnPropertyPH #Philippines

Опубликовано:

13 мар 2021

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Комментарии : 57

@merelymj 3 года назад

Thanks for your video....I will check out your channel....very interesting video because I'm buying land now and I am facing some difficulty with the papers, titles....I will be posting videos about it

@josedolly9699 Год назад

*-salamat po sa info_*

@OwnPropertyPH Год назад

Welcome po 😊

@lamberko 2 года назад

The owners of condominiums are share holders of the condominium's corporation. Because of the Philippines' law, in the past the maximum life span of a corporation was 50 years. But, a couple of years ago that law has changed. Now a Philippines' corporation has no more longer a limited life span; today the life span is unlimited! What does that mean? - It means the newer corporations (condo corporations included) are no more longer limited to only 50-years. Now the life span is "eternity".

@OwnPropertyPH 2 года назад

This is true. I actually made a video regarding the lifespan of condominiums in the Philippines 😊

@ladenmaxyarka5195 3 года назад

Hi there, I've seen some of your videos and was interested...... Do you know any colleges in Pangasinan are were they provide real estate causes.

@OwnPropertyPH 3 года назад

Hello, I regret to inform you that I don’t know colleges in Pangasinan that offer real estate course. However, since there is currently a pandemic, all schools are offering their classes online so you can actually enroll in any school no matter where the location is 😊

@KrayPurn 8 месяцев назад

It takes at least 5 members to establish a corporation, with at least 60% being Filipino nationals. Foreigners who decide to take this path of ownership generally do not take on an additional foreign partner as in doing so it lessens his individual controlling vote. And so more often than not the foreigner will establish the corporation as 4 silent Filipino national partners and himself with a controlling 40% to 15% for each of the 4 silent Filipino nationals. The foreigner simply needs to ensure that only 1 of the 4 Filipino nationals votes his way in order to control any interest regarding sales or otherwise...in that the foreigner would vote his 40% and the 1 Filipino bought vote of 15% ensure the foreigner would then override or control at total of 55% of any vote which equates to 40% from himself and 15% from the 1 Filipino national in his back pocket on any voting issue brought before the board of voters.

@lyniglesias1 2 года назад

I’m an American citizen by birth. Both my parents are former Filipino citizens. Is it true that foreigners can now own a house and lot as long as the house and lot is not more than a hectare?

@OwnPropertyPH 2 года назад

If at the time of your birth, both your parents are already American citizens, then you won't be considered as a natural-born Filipino. Those who aren't natural-born Filipinos can't own a residential land of up to 1,000 sqm or agricultural land of up to 1 hectare under B.P. 185. Additionally, you won't be able for dual citizenship. What you can do is be a naturalized Filipino. I hope this helps 😊

@camerongarcia3128 2 года назад

Question, for Filipinos whose parents were from the Philippines before they were naturalized as American Citizens, and he/she decides to retire in the Philippines, can they buy property, but keep it within the family since his/her relatives would be the hold owners if that person died?

@OwnPropertyPH 2 года назад

If a Filipino who is already a naturalized citizen of a foreign country did not avail of the Dual Citizen Law in the Philippines, he/she can still acquire land under BP 185 which gives him/her a limitation of 1,000 sqm residential land and 1 hectare for agricultural farmland under his/her name. But if he/she wants his/her family not to pay estate taxes anymore then he/she can buy the property under the name of his/her relative whom he/she wishes to inherit the property he/she buys 😊

@jrsmith408 Год назад

ok so if the condominium building is destroyed and since the foreigner can not own the land does this mean that the foreigner WILL NOT RECEIVE any money nor a percentage (which should be 40%) from the sale of the land?

@OwnPropertyPH Год назад

A condominium has a different concept of ownership and is governed by The Condominium Act of the Philippines. The land where the condominium building is built upon is owned by a condominium corporation to which the members are the condominium unit owners. Only 40% of the share in a corporation in the Philippines may be owned by a foreigner. For example, if a building has 100 units with 30 sq m each, only 40 units can be owned by foreigners. So if let us say you have two condo units then your share on the proceeds of the sale of the land will be based on two condo units. Basically, you receive proceeds from the sale of the land proportionate to your share just like any other condominium unit owner, regardless if Filipino or foreigner. Hoping this is clearer 😊

@jrsmith408 Год назад

@@OwnPropertyPH thanks very much ,you r very helpful, will keep in touch

@RonG1960 2 года назад

Is it possible for a foreigner to hold a mortgage on piece of landed owned by a filipina, then lease that land from the filipina to build his own house on said property, with the lease payments being equal to the mortgage mortgage payments due him?

@OwnPropertyPH 2 года назад

Hi, I’m a bit confused with this question. Just to clarify, you are the lender in the mortgage (mortgagee) and the Filipina no longer needs to pay you mortgage payments because it’s equivalent to the rent you have to pay for the lease of the land. If that’s the case, you are allowed to be a mortgagee of a real estate mortgage because a mortgage does not result to a direct transfer of ownership. However, the situation becomes complex since you’ll be building your house on the land. That means you’ll have exclusive use of the property and that constitutes possession which is prohibited during the existence of the real estate mortgage. So better to consult a real estate lawyer if ever there is a workaround for it and you may also read Reublic Act 4882. I hope this helps even just a bit 😊

@RonG1960 2 года назад

@@OwnPropertyPH That is pretty much what I asked, except I would expect the payment exchange would still be made, not just negated. It seems to me that in he law the process or appearance is often more important than the result.

@tonicfortiredeyes185 2 года назад

Hi, I need help getting approved for monthly equity on a condo unit I reserved. Your help would be greatly appreciated.

@OwnPropertyPH 2 года назад

Hi, I already responded to your email 😊

@jrsmith408 Год назад

btw why are you up so late or early in the morning?

@OwnPropertyPH Год назад

Work 😊

@josevilla7075 Год назад

I'm a former natural born Filipino citizen and want to buy property in Phil. What are the requirements needed?

@OwnPropertyPH Год назад

Requirements are the same in the normal course of buying real property which are a Deed of Absolute Sale, a valid TIN number, and payment of transfer fees. What is just different is that there is limitation on the land you may purchase. For instance, if it is for residential purpose, you may only buy 1,000 sqm of urban land and/or 1 hectare of rural land 🙂

@russellmania9157 2 года назад

Me and my long time GF in Cebu just purchased a lot in a subdivision in the south. I will lease the lot from her for 25 years and build a house on it. They say a foreigner can own the house not the land. So what paperwork will have my name on the house build? The building permit? The house title?

@OwnPropertyPH 2 года назад

Yes, you may own the house but not the land. So the Transfer Certificate of Title of the lot is under your GF's name. The paperwork that will have your name on it are the following: • Special Power of Attorney which allows you to sell the house & lot since your GF is not yet your spouse • notarized Memorandum of Agreement with all the terms and conditions • Long Term Contract of Lease • Tax Declaration may also be registered under your name

@russellmania9157 2 года назад

@@OwnPropertyPH ..As of now Philippines is not open to tourist. Im in the USA so is it possible to sign the contracts electronically from the USA?

@jrsmith408 Год назад

@@OwnPropertyPH so you are saying he has the power to sell both house and lot? even if the GF holds the transfer of title ?

@OwnPropertyPH Год назад

@@russellmania9157 for your protection, the contract should be notarized but if you still can’t go to the PH, you can have it Apostilled since both Philippines and the US are members of the Apostille convention 😊

@OwnPropertyPH Год назад

@@jrsmith408 yes, so long as SPA is given by the gf and it is executed 😊

@kathe5139 Год назад

Hi. We’re planning to sell our house and lease the land to a foreigner buyer. May I know what documents are needed?

@OwnPropertyPH Год назад

Hello, I still haven’t encountered this scenario. Usually both the house and lot are for lease since the house can’t be transferred when the TCT includes the house.

@kathe5139 Год назад

@@OwnPropertyPH oh. So the option 5 will only be applicable for land only? So if there’s an a existing house on it , it’ll be lease only? It’s not possible for the foreigner to acquire the house? Thanks for answering:)

@OwnPropertyPH Год назад

@@kathe5139 Option 5 is applicable for vacant residential land to be leased for 50 years po 🙂 If there is an existing structure, I don’t think it’s possible since it is already in the TCT 🙂

@kathe5139 Год назад

@@OwnPropertyPH Thank you 😊

@fatimaclemente6948 3 года назад

Im looking for 2 hectares lot in makati (direct from owner will be prioritized) 🙂

@jrsmith408 2 года назад

what is the different between an apartment and a condominiums

@OwnPropertyPH 2 года назад

An apartment is a unit in a building that is owned by a landlord. So its purely for rental purposes. Meanwhile, a condominium is a residential building with condominium units that can be owned by the buyer. Most condominium buildings have amenities that aren’t found in apartments 😊

@jrsmith408 Год назад

@@OwnPropertyPH thanks very much for your response

@jrsmith408 Год назад

let say there's a scenario that there is a condominium complex consist of multiple building and the foreigner owns 40 % of the condominium complex, and the 60% majority share holders wishes to sell the complex what resources does the foreigner has at his disposal to retain his ownership of his 40% share?

@OwnPropertyPH Год назад

@@jrsmith408 hi, the scenario is not possible since a foreigner won’t be able to own 40% of the condominium building because the real estate developer won’t allow it and that is too many condominium units. Most probably your share will just be minimal and if majority of the owners decide to sell the building, most likely the building is no longer livable so it will also be beneficial for you. You’ll get proceeds from the sale of the lot equivalent to your shares.

@GregBoyce-yx3eh 2 месяца назад

I want to live in the countryside and on property and I’m getting married to Filipino. Her uncle has lots for sale on a Canadian going to becoming an Australian citizen and I want to become Filipino citizen. I don’t anymore.

@jrpt14 3 года назад

Hi, my husband is a Singaporean and I am Filipino citizen. We purchased a lot at Dipaculao, Aurora. His name is included in the Deed of Sale, and according to the agents that is processing our title his name is ok to be included in the Title, it will be shown as "married to" is it legal or correct?

@OwnPropertyPH 3 года назад

Since your husband is a foreigner and what you are purchasing is a lot, his name may appear in the Deed of Absolute Sale but his name won't appear on the Transfer Certificate of Title. Foreigners are prohibited in owning land in the Philippines 😊

@TheAmboyswak 3 года назад

too complicated...i just rent....

@OwnPropertyPH 3 года назад

Yes, rent is easier 😊

@HerballyTwisted 3 года назад

Can I buy property put it in my kids name? Half Filipino

@OwnPropertyPH 3 года назад

Yes, you may. However, if the property is solely under the name of your child, you will be charged with donor's tax.

@HerballyTwisted 3 года назад

Ok, thank you for your response

@OwnPropertyPH 3 года назад

@@HerballyTwisted welcome 😊 And by the way, there are other requirements needed if you’re buying with a minor child

@christinagarcia5848 2 года назад

Hi, my mother is a Filipina and my father is an American citizen. My parents left a will that includes myself, an American citizen and my son, a Filipino. Am I legally entitled to my parent's property?

@OwnPropertyPH 2 года назад

Hello, based on your story, I’ll just presume that both are deceased. However, I’m not familiar with the property relations of married couples in the US as well as US estate laws. I’m more familiar with Philippine laws so if ever you will be inheriting Philippine land properties on your mother’s side, you can’t inherit through a will. You may seek assistance with a lawyer and bring also the will to court. Hope this helps in some way 😊

@jamescox2822 6 месяцев назад

So simply put no a foreigner cannot own property in the Philippines

@johnesmer5635 Год назад

Next time stop at the end of a sentence. You have valuable information But you spoke at one tone and at one speed.. . Next time slow dawn breath and stop at end .

@OwnPropertyPH Год назад

All right, sir. I think I also have corrected this in my newer videos 😊 Anyway, for now, you may also opt to toggle the speed of the video as it might help. Thank you for watching 😊