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Corporations or partnerships that is at least 60% Filipino owned are entitled to acquire land in the Philippines. An exception to this rule, is foreign acquisition of a Philippine real estate in the following cases:
Setting up a corporation with 40% of the stocks in the foreigner’s name and 60% to Filipinos is a good alternative. There must be a minimum of 5 stockholders, and foreigner can have the Filipino stockholders sign blank transfer of the stocks for security.
The Condominium Act of the Philippines, R.A. 4726, expressly allows foreigners to acquire condominium units and shares in condominium corporations up to 40 % of the total and outstanding capital stock of a Filipino owned or controlled Condominium Corporation.
The land can be leased by the foreigner or a foreign corporation on a long term contract for an initial 50 year period and renewable every 25 years. A foreigner can rent a lot and at the same time legally own the house on the rented land.
Own any of the following projects closer to your heart:
The Magnolia Residences, New Manila, Quezon City
The Sapphire Bloc, Ortigas CBD, Pasig City
The Radiance Manila Bay, Roxas Boulevard, Pasay City
The Trion Towers, Bonifacio Global City, Taguig City
Sonata Private Residences, San Miguel Avenue, Mandaluyong City
Signa Designer Residences, Valero, Makati City
Woodsville Residences, Merville, Paranaque City
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