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7 Answers
- delive_ranceLv 79 years ago
Foreign individuals are not allowed by law to own commercial land in the Philippines even if they are married to a Philippines citizen because this deprive the citizen of the Philippines to own their own land in the Philippines. So before foreigners FILIPINO FIRST. But if you are considered an investor or some how is willing to invest a lot of money on commercial basis then the law might provide a little incentive on your part provide you have a smaller share of stock in the company because you are a foreigner, 60-40% 40 for you and 60 for the Filipino stockholder. Foreigners are invited to buy land in the Philippines only with limited scope and scale, and the land would be return back to the Filipinos in a given time.
For commercial use why not. Because that way you are generating more employment and income for the Filipinos in the Philippines. But the land should not be own 100% by a foreigner, it must have a Filipino counter part or investment of a Filipino citizen. That way the government is assured the land would not be put in the hands of any foreigners living in the Philippines.
- Anonymous9 years ago
Short and sweet answer is a big --NO.
Either you are married to a Filipina in which case any and ALL land holdings inside the PI go in her name or you can lease/rent it. Americans or anyone else cannot OWN land, Filipino citizens only.
This is the ONLY area of Philippines business that cannot be bribed, bought, or conned into.
Anyone tries to convince you otherwise is a liar, cheat, or fixer.
Google it for yourself and discover that this is the case. No foreigner can legally own any land in the PI.
If this was possible the whole country would be bought up over night. Even the cost of the most expensive real estate there is chicken feed to you or I and the country would be owned outright by foreign investors before lunch, should it come on to the open market.
That would mean heavy leverage to those land owners and the current corrupt lot running the joint would lose all power. So--it just ain't gunna happen pal.
- chmacqueenLv 79 years ago
Foreigners cannot own land. Only Filipino's can own land thus why everyone has a filipino business partner. Plus then also a foreigner can only own 40% of a business hence why most have it in their wife's name.
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- Anonymous9 years ago
You should go to the attachè commercial in the embassy, as this is particular issue only experts in the government can tell you.
- Anonymous9 years ago
Nope.