Foreign Property Ownership in The Philppines

Under the Philippine law, only Filipinos can own land. Foreigners are not allowed to own houses and lots in their own name, unless through the law via succession. The easiest way for a non-Filipino to acquire a house & lot is to have a Filipino spouse purchase the property or to set-up a corporation. The later must have 60% Filipino ownership and 40% foreign. However, there are no restrictions on condominium ownership – unless foreign ownership exceeds 40% of the total... Read More