Friday, June 12, 2009

How Can Foriegners Buy A House in the Philippines

As a rule, only Filipino citizens and corporations or partnerships with least 60% of the shares are owned by Filipinos are entitled to acquire land in the Philippines.

Aliens can acquire land in the Philippines only on a few exceptions:
1) Acquisition before the 1935 constitution.
2) Acquisition thru hereditary succession -if the foreigner is a legal heir.
3) Purchase of not more than 40% interest as a whole in a condominium project.
4) Purchase by a former natural born Filipino citizen who acquired foreign citizenship & has not applied and granted dual citizenship can purchase up to 1,000 square meters of residential land and 1 hectare of agricultural or farm land.foreigner

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