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Real Estate Laws in the Philippines

  • Right To Own Philippine Real Property
    For all our foreign owners who are looking to buy property in the beautiful Philippines, we have listed below additional information on "Philippine Real Estate Ownership Laws", which we are sure you will find very helpful.The general rule is that only Filipino citizens and corporations or partnerships, at least 60% Philippine owned are entitled to acquire land in the Philippines. As an exception to this rule, an alien acquisition of Philippine real estate is allowed in the following cases. Acquisition before the 1935 constitution. Acquisition thru hereditary succession if the foreign acquire is a legal heir. Purchase of not more than 40% interest as a whole in a condominium project. Purchase by a former natural born Filipino citizen subject to the limitations prescribed by law. Filipinos who are married to aliens retain their Filipino citizenship, unless by their act or omission they are deemed to have renounced their Filipino citizenship.

  • Special Visas for Foreigners Allowing 100% Condo and Townhouse Ownership
    Special visas are available to foreigners that allow complete ownership and control of Philippine condo and townhouse units. Qualifications for this visa are as follows:
    * You must be at least 35 years old.
    * You should meet the bank deposit requirements which can be withdrawn at a later date for your investments.
    The processing fee and the amount of the deposit/investment needed depends on whether or not you are married to a Filipino or former Filipino. This allows you almost all of the investment privileges of a Filipino citizen. For specifics on the program, check out the Philippine Retirement Authority website.

  • Condominium Development Ownership Law Presidential Decree No. 957, which regulates the sale of subdivision and condominium developments, and providing penalties for violations thereof. The National Housing Authority has exclusive jurisdiction to regulate real estate trade and business, a function, which is presently exercised by the Housing and Land Use Regulatory Board (HLURB). Certain conditions are required before a license to sell condominium development units and or subdivision development lots and homes is issued to a Filipino or Foreign owned individual or corporation. The requirements include a certificate of registration, a performance bond, and an approval of the building plans and specifications. Violation of these rules could mean fines, cancellation of license and or imprisonment.

  • Former Filipino Citizens, a.k.a. "Balikbayan"
    are entitled to own a maximum of 1,000 square meters of residential land and one hectare of agricultural or farm land. For business purposes, a maximum of 5,000 square meters of urban land or three hectares of rural land is allowed. In the case of married couples, one or both of them may avail of the privilege provided that if both avail, the total area acquired shall not exceed the maximum.
    In the case of a transferee already owning an urban or rural land for business or other purposes, he/she shall still be entitled to be a transferee provided that when added to those already owned by him/her shall not exceed the maximum.

  • New Dual Citizenship Laws Affecting Property Ownership
    Dual citizenship means having two citizenships and passports from two different countries. Dual citizenship is now available for the following:
    * Former Filipino citizens born in the Philippines, but have immigrated to another country and obtained citizenship of that country.
    * A foreign spouse married to a Filipino citizen.
    Dual citizenship allows the citizenship holder full rights of possession of Philippine real property. This is a new law and it is still unclear as to the procedures involved to implement it.

  • Foreigner Married to a Filipino Citizen
    If holding title as an individual, a typical situation would be that a foreigner married to a Filipino citizen would hold title in the Filipino spouse's name. The foreign spouse's name cannot be on the Title but can be on the contract to buy the property. In the event of death of the Filipino spouse, the foreign spouse is allowed a reasonable amount of time to dispose of the property and collect the proceeds or the property will pass to any Filipino heirs and or relatives.

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