Foreign ownership as a Philippine Corporation

Foreign nationals and or corporations can own 100% of a Philippine condominium or town home.

Foreigners are not allowed to buy private land, residential home with land lot and or commercial building with land lot ownership in the Philippines because they are regarded as national assets. Land ownership is restricted to Filipinos.

However , through certain loopholes including marriage, through a lease or incorporation the foreign national can buy and take ownership of the property.

A Philippine Corporation by law will be a maximum of 40% foreign owned, and a minimum of 60% Filipino owned with a minimum of five incorporators. The corporation by law shall have a main bank account tied to it upon incorporation. If you’re working with people you trust, than you are protected to some extent.

A foreign national may be the sole person on the Philippine corporation bank account. Thus allowing the foreign national total control over the funds derived and paid out from the Philippine Corporation and from the income or sale of the asset or real estate property.

Related Topic/s: Condominium Development Ownership Law

Philippine Real Estate Laws

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