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VERY HELPFUL TIPS on Foreigners acquiring properties here in the Philippines.

Can Foreigners own LAND in the Philippines?
As a rule, only Filipinos are allowed by Philippine law to acquire by purchase, transfer or assignment any lands in the Philippines. However Foreigners can acquire properties in the Philippines through any of these manner:

Lease the Property (the easiest and safest way) -- You can lease public and private land for 25 years with an automatic renewal for 25 years, (just enough time for return on your investment here in the Philippines). Mostly done by Foreigners retiring in the country even to Foreigners married to Filipina.  This is the easiest, least time-consuming, safest by using our friendly guidelines:

You (being a foreigner) invest your money and bought LAND anywhere here in the Philippines, the land will be in your Filipino/Filipina Trustee’s Name, can be your wife, girlfriend, fiancée, or just even any Filipino citizen friend.

Upon your Filipino Trustee signing the Deed of Sale, your Trustee shall also sign a document called (1) Contract of Lease, you as a Lessee for 25 years and renewable, (2) Irrevocable Special Special Power of Attorney for you to SELL the property anytime [just in case you decide in selling it] with a separate document (3) Ready and Signed Cancellation of Contract of lease agreement because the Lease Agreement will be annotated at the original TCT and by the time you will sell the property, then this will be needed, notarized copy together with the Contract of Lease but the Cancellation of the Contract of Lease will have no date till such time you will sell it or can be notarized at a later date, time of selling; & (2) should be notarized, (3) can be notarized at the time you plan to sell the property. At least 7 copies each document (before notarization).
BEST TO MEET ME, for there are other further explainations how to go about it.

MUST DO:

Hard copy, original Transfer Certificate of land Title (TCT) MUST be in your position, and not to your trustee.
Original TCT MUST be annotated with that of the Original TCT at the Register of Deeds, for example in DavaoCity… (We, your Real Estate Agent will help you in this process)

 This is the safest way for a foreigner to purchase land in the Philippines, thus you can now enjoy your stay here.

Can Foreigners own condominium units in the Philippines?
Yes, you can own 100% of the unit but not more than 40% of the entire condominium project.
Can Foreigners own properties though forming a corporation?
Yes, preferred as well by Foreign investors, but would be too tasky and time consuming, plus you will have to form with Filipino partners with the sharing of 40% foreign and 60% Filipino funding capital. But if you opt to buy properties using a corporation, we can tell you more and help you start doing this process.
Other ways of acquiring lands in the Philippines?

 If you are married to a Filipina and have kids, some Foreigners put the property in their kids name. (But, you cannot easily sell the property unless your kid reaches the age of 18 years old).  If you sell before the kid is 18years old, it can be done but would be a long process.
Inherit the land if your Spouse dies:This simply means, when your Filipina wife dies, you as the compulsory heir, together with your children if you have any, will become the legal owners of her property.


Is it safe to buy land in the Philippines?

Yes, the Central Registration of documents ensures that you can buy with complete confidence. We can provide certified copies of documents evidencing title to and/or rightful possession over properties. If you want a certified true copy of the title, we charge at cost for whatever fees to be incurred for titling search and etc..
Beach front shoreline ownership and or acquisition?
The shoreline of the whole Philippines belongs to the government. When you buy a piece of beachfront lot you have to obtain a “Foreshore Lease” from the government which shall afford you possession and control of the beach from the High Tide – to the Low Tide mark as lessee thereof. This law was promulgated to prevent squatters living on beaches within the Philippines, and to protect the environment. No development is allowed on any beach closer than 30 m to the high tide mark.

WHO PAYS WHAT IN REAL ESTATE TRANSACTIONS?

In the Philippines, the law provides that capital gains tax and all other real estate taxes against the property shall be for the account of the SELLER up to the date of the execution of the Deed of Absolute Sale. On the other hand, the documentary stamps tax, registration fees and expenses for the transfer of title in name of the BUYER shall be for the account of the BUYER.. However, there are instances, that the SELLER would offer a lower price of the property in condition that the BUYER will shoulder all obligations for and in behalf of the SELLER.

To take a look on how to compute the BUYER's estimate cost in acquiring properties in the Philippines, click here to view.

SOME FAQs:

When I buy a beach, how much of the beach do I own?

The shoreline of the whole Philippines belongs to the government. When you buy a piece of beachfront lot you have to obtain a “Foreshore Lease” from the government which shall afford you possession and control of the beach from the High Tide – to the Low Tide mark as lessee thereof. This law was promulgated to prevent squatters living on beaches within the Philippines, and to protect the environment. No development is allowed on any beach closer than 30 m to the high tide mark.

REQUIREMENTS FOR TRANSFER OF TAX CLEARANCE TO NEW OWNERS

REQUIREMENTS for change of name for light bill DLPC, Ponciano, Davao City

REQUIREMENTS for change of name for water bill DCWD, JP Laurel Ave, DC

NSO Davao Birth Certificate Application Form

From: PATRIMONIO REALTY & Property Management
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Mobile#63905 825 8888 or 0942 700 1888