Can Foreigners own Real Estate or Land in the Philippines? Buy house or land in the Philippines for foreigners can be difficult. But there are different possibilities legally compliant. A foreigner can buy or build a house (condominium) and be a legal owner in the Philippines. But never become an owner of the land on which the house stands.
Can Foreigners own Real Estate or Land in the Philippines?
Land in the Philippines for foreigners. The following options are greatly reduced and do not constitute legal advice. Also, the order of options is not relevant, they are just a short overview. The ways and possibilities:
1. Option: The Filipino spouse
Mostly the wife acquires the property. If your life partner is a Filipino citizen, she can buy land in her name. The husband can build a house on this land and it becomes his property. The easiest solution. Legal questions are usually unproblematic.
2. Option: Lease agreement
A foreigner can lease a piece of land for 25 years and agree to a further extension of another 25 years. The entire amount for 50 years lease is paid at the time of the contract, or you agree on annual payment. After 50 years, the property goes back to the owner Lease contracts must always be entered in the land register.
3. Option: Establishment of a corporation
It may also be considered to set up a corporation which acquires the land. In this case, at least 60 % of the shareholders are still Filipino citizens, but the share of foreigners can be secured very well. A corporation must be confirmed annually, which is associated with costs.
4. Option: A Filipino friend
Lawyers in the Philippines offer solutions for this. There are several variations imaginable. For example, it could be agreed that after 50 years the tenant or his heirs can buy the property for a fixed price. Please be thoroughly advised by good Philippine lawyers. Contact other foreigners who already have experience in this process.
Can Foreigners own House or Land in the Philippines?
House and apartment – YES
Land – NO
Here is our internal link to interesting houses and land in Panglao & Bohol ⇒ House & Land in Bohol
The houses and land presented on Bohol Guide were personally visited by our team. When buying one of these objects, the owner will be of assistance to you. In most cases, you have nothing to do. The experienced owner will do the paperwork for you.
Land Registry in the Philippines:
The land registry in the Philippines is called the Register of Deeds. A land register entry is called “Original Certificate of Title” – abbreviated: OCT. An OCT is a title issued for the first time after development and surveying. If the property changes hands, a TCT “Transfer Certificate of Title” can be issued. Lands that are not registered belong to the state and are referred to as public land. Link to ⇒ Land Registration Authority
It is recommendable to live for a few months for rent and to examine in peace where you would like to live.
The prices, especially for land have risen sharply in the last years, also in Panglao and Bohol. (Status of 2019) Nevertheless, it is still affordable and a good investment in the future as prices continue to rise.
This post does not constitute legal advice. Bohol Guide assumes no liability for the accuracy of the information.