FAQ's FAQ
Can Foreigners own real estate in the Philippines?
Generally,
only Filipinos are allowed by Philippine laws to acquire by purchase,
transfer or assignment any lands in the Philippines. However Foreigners
may be able to acquire properties in the Philippines by any of the
following:
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Is it safe to buy land in the Philippines?
Yes,
the Central Registration of documents ensures that you can buy with
complete confidence. We can provide certified copies of documents
evidencing title to and/or rightful possession over properties. If you
want a certified copy of the title, we charge a small fee..
Can I form my own Land Holding Corporation?
Yes, provided that the foreigner (you) shall own a maximum of 40% and give away the other 60% to Filipino incorporators.
What sort of land titles are used in the Philippines?
There
are different kinds of evidences of title for lands in the Philippines.
Titles under the Torrens System are absolute proof of ownership. Tax
Declarations are proof of lawful possession and affords possessory
rights under the law.
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What are the disadvantages of a Tax Declared vs. Titled Property?
Tax Declarations are proof of possession, but they are not deemed as desirable or 100% secure as a Titled property. That's because there exists the possibility of disputes of property boundaries and ownership with tax declarations, especially if the property is not held by a single owner, but by the “Heirs”. Because of this we extensively research our Tax Declared properties to ensure they are free of problems. It would be counter-productive for us to sell properties that later have troubles when the sale is taking place.
In general it is easier to commercially develop Titled properties than Tax Declared, but there is very little difference involved and not having title is no prohibition on development. It is simply that a bit more process must be completed to commercially develop a Tax Declared property. However, in the instance of the property being used to locate a residence there is virtually no difference between the two.
What is the Condominium Act RA4726?
The Condominium Act of the Philippines, R.A. 4726, expressly allows
foreigners to acquire condominium units and shares in condominium
corporations up to not more than 40 % of the total and outstanding
capital stock of a Filipino owned or controlled condominium corporation.
Those who claim that foreigners can own a house & lot in the Philippines have a condominium title to their property. There are a very few single-detached homes or Townhouses in the Philippines with condominium titles. Most condominiums are high rise buildings.
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In general it is easier to commercially develop Titled properties than Tax Declared, but there is very little difference involved and not having title is no prohibition on development. It is simply that a bit more process must be completed to commercially develop a Tax Declared property. However, in the instance of the property being used to locate a residence there is virtually no difference between the two.
Those who claim that foreigners can own a house & lot in the Philippines have a condominium title to their property. There are a very few single-detached homes or Townhouses in the Philippines with condominium titles. Most condominiums are high rise buildings.