Who are allowed to buy or own land in the Philippines?
- Natural-born Filipinos (Phil. Constitution of 1987, Sec. 2, Art. XII).
- Corporations which are at least 60% owned by Filipinos.
- Foreigners who acquired property prior to the 1935 Constitution.
- Foreigners who inherit real property from their deceased Filipino spouse or parent. The foreigner has to be a legal heir.
- Former Filipinos who become naturalized citizens of another country, but who retained their Filipino citizenship. (Republic Act 9225-Dual citizenship Law of 2003).
- Former natural-born Filipinos who become naturalized citizens of another country. Ownership is subject to certain limits covered in B.P. Blg. 185, which was superceded by R.A. 7042 as amended by RA 8179 or the Foreign Investment Act of 1991.
Are foreigners (individuals) allowed to own land in the Philippines?
Generally no, but there are exceptions:
Foreigners may buy and own a condominium unit, for as long as the total foreign ownership of the condominium corporation does not exceed 40% (R.A. 4726 – The Condominium Act).
Foreigners who acquired Philippine property when they used to be Filipino citizens, will retain ownership of those properties even after they changed their citizenship.
Provinces and regions of the Philippines (Photo credit: Wikipedia)
The Philippines is an archipelago abundant in nature, rich in culture, and filled with wonderful discoveries. It has three (3) main islands: Luzon in the north; Visayas, a cluster of small islands in the middle; and Mindanao, the largest island down south. The Philippines stands at the crossroads of the developed western world and the Orient. It lies in the heart of Southeast Asia, stretching more than 1,840 kilometers. Its unique location has made the Philippines the commercial, cultural and intellectual hub of Asia from the dawn of history. http://itsmorefuninthephilippines.com/philippines-where-is-it/
Come, let’s travel to Philippines!