Ownership of property in the Philippines depends upon the type of property involved.
Apartments in blocks (known as condominiums) can be owned outright by foreigners.
Land on the other hand can only be owned by Filipino nationals – at the moment. The current President has indicated that this is likely to change in his term of office. This will undoubtedly lead to an influx of buyers with demand likely to outstrip supply with the likely result being an increase in prices.
Even though land ownership is not an option for foreigners, at Investing in the Philippines we have developed ways to fully ensure your security.
We can arrange leases for property of up to 75 years under the current laws and can back this up with undertakings from UK lawyers that title deeds to the land (which are required to sell) are held to your order and that, once the law does change, the property will be transferred directly to you and registered in your name.
We can also set up companies in the Philippines, which provides an alternative structure to the lease arrangement.
We are happy to discuss all options with you and are confident that you will be happy that your investment is fully protected.