MOST SECURE WAY FOR EXPAT PURCHASING PROPERTY??

Hi,

Before marriage u must have an agreement with ur gf.. it's a will of testament or pre-nuptial agreement in front of attorney with 2 witnesses related to both of u.. that agreement must be notarized..

In that way, any properties u will buy will not be considered as conjugal properties..

Hope this help.

Cy

The following was copied directly off the Philippine Embassy Web-Site.
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Owning Land in the Philippines

Former natural-born Filipinos can own property in the Philippines, subject to limitations prescribed by Philippine Republic Act 8179 (residential property up to 1000 square meters of urban land or one hectare of rural land) and Batas Pambansa 185 (business property 5000 square meters of urban land or three hectares of rural land).

Philippines real estate law does not allow outright ownership of real property by foreign nationals. Filipinos and former Filipino citizens and Philippine majority owned corporations are permitted to own land, buildings, condominiums and townhouses.

Foreign nationals may buy condominiums units in Philippine condos (shares in condominium corporations) as long as not more than 40% of the units in a project are acquired by foreigners (Republic Act 4726, otherwise known as the Condominium Act).
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Also,

If you wish to lease a piece of land from someone, be prepared to give away everything you build, plant, and improve.  What ever you do to the property, it belongs to the land owner.  If you think you will tear it down when you leave, there is recourse by the landowner for damages to his property.  If you own a bag of fertilizer and it is on your truck and then you put it onto the land the fertilizer now belongs to the land owner.  This was very interesting reading of some of the Philippine Laws, which were written to benefit Natural Born Philippine Citizens.

Bottom line, it will never be yours here in the Philippines.

Hope this helps, RAC

Thanks ,noted  but if I lease it for 50 years would i not have control over property? ........ To switch for a moment if I do get married to my GF FILIPINA , HOW legally am I securing  the investment if things do not work out by Philippine law???

Hello Wimbleton

There are some threads discussing the same query as yours, I would suggest you to browse through them so as to gather most useful informations you can.

Here are the links :

https://www.expat.com/forum/viewtopic.php?id=392252https://www.expat.com/forum/viewtopic.php?id=275828

Regards
Kenjee
Expat.com Team

If the property is under her name, then she can go ahead and sell the property.   The new owner will then be the lessor that will need to honor or break the lease contract.   Its better to put property into a corporate structure. Still you can only hold 40% but at least you can give her 30% and another very trusted party 30%.

Talk to an attorney.

wait until your gf or wife has your baby, then put the property in the childs name..  this is what a real estate lawyer told me here in the philippines

the following works well for an expensive property but not practical for a small property because of ongoing expenses - set up a company for the sole purpose of owning the property - you as a foreigner may own no more than 40% of the company - the balance must be owned by philippine nationals - i had a law firm who set up the company provide the other nominees - you may also select your own - i believe a company will need 5 owners - the expenses include legal, an annual cpa financial statement, and monthly filing with the bir (tax department) stating that the company is non operation thus not subject to tax)

Buying the property in your wife's name will insure it remains in her family and for your use until you depart the Philippines.  You may or may not realize any recovery or profit from sale of the property.  If you create a business here to buy property, you will need to meet all the requirements of having a corporation including the bank deposits required to maintain a corporation here.  The maximum you may own as a foreigner in a business or corporation is 40%, with the balance belonging to the 60% Philippine partner interest.  This means you put in all your money into the business, including the purchase and 60% is owned by the other partners for free.  You can forget about your wife's family recovering funds from the business that owns the property, and if you sell the business then 60% of the profit will go to the partners no questions asked.  All the Filipino owners will expect you to pay them monies each year for their interest to keep the company intact, unless the partners vote to take over the company from you and do what they want with it.  Lets say you pay P1,000,000.00 for a property and put it into the business, you just gave P600,000.00 away free to your business partners.  You won't find any of the 60% of your Filipino partners willing to fund their 60% share of the business.  The Philippines is all about spending your money.  If you spend it, don't expect to get it back!  With this in mind you should have a happy stay here in the Philippines.   Hope this helps, RAC

that's exactly right rcampsr.. which is why I always say  ' don't spend more money then you can stand to lose'

I haven't bought property yet but what am planning to do is to have my girlfriend buy the property and put it in her name.
At the same time the property is paid for we will sign a contract leasing the property back to me in perpetuity.
When I die the lease is over and she will have a real nice nest egg which should take care of her for the rest of her life.
If she were to die before me the property would go to her eldest son and the same rules would apply. I live on the property (without family interference or moving in) until I die.
I have heard that even if the family got greedy and wanted to get me off the property that even a lawyer here would probably advise against it as just a waste of time and money. Especially if I have the signed paper work and the family gets all in the end.

Greetings, Sir. I am most willing to assist you regarding your concern. Let me help your further by sending me your email or viber number so we may discuss in detail. Thanks. -Ice

Thank God
[email protected] is my email and no viver account but i have a skype account edmcdoor1 is my account. Thank

Than you ice,[email protected] is my email and i have no viver account but i have a skype edmcdoor1 is my account name

[email protected] is my email

Here is my email ...... [email protected]       Thanks
Paul

If you aren't married, then you can't purchase a land. Foreigners are only allowed to buy Condominium units if the condominium corporation is 60% owned by Filipinos.

SOURCE: I'm a licensed realtor

Simple solution:

Do not marry a Filipina.

Do not "buy" property in the Philippines.

You can not get divorced and you can not buy property here.

i made a 25 year lease.. renewable for another 25 years when the first lease expires. the land i bought and the home i built on it cost me under 900k peso.. much cheaper than if i was to rent. so, to the people that say dont buy coz you cant own.. all i can say is.. you cannot take anything with you when you die. so if your plan is to be a lifelong resident of the philippines, buying is the best way to go. find a caring filipino family that you can trust, and when you die, leave them your home. pay it foward people.. pay it foward