Thursday, July 1, 2010

Just Ask Do foreigner allow to own land in Philippine ?


Hi Seraphina from Poland like every country only Filipino citizens and corporations and associations at least 60% of whose capital is owned by Filipinos may acquire private lands.

Foreigners are allowed to purchase a condominium unit, provided that total foreign ownership of the condominium corporation does not exceed 40%. They may also inherit real property from their deceased Filipino spouses or parents.
Children born to a Filipino parent, whether legitimate or illegitimate, may inherit the property o the Filipino parent, even if the child is not a Filipino citizen.
Filipinos who lost their Filipino citizenship will remain the owners of any property they have acquired before changing nationalities. On the other hand, a natural-born Filipino citizen who has lost his Philippine citizenship may be a transferee of private land, subject to the following limitations and conditions..