Can I buy land in the Philippines if I am not citizen anymore?

Land Ownership for Non-Citizens in the Philippines

Foreign nationals who are not citizens of the Philippines face certain restrictions when it comes to owning land within the country. However, they are permitted to purchase condominium units under specific conditions.

Condominium Ownership for Foreigners

Under Philippine law, foreigners are allowed to acquire condominium units, but certain requirements must be met:

• The condominium building must have at least 60% Filipino ownership. This ensures that the majority of the building is owned by Philippine citizens.
• Foreign ownership is limited to 40% of the total floor area of the building. This restriction prevents foreigners from monopolizing land ownership in the Philippines.

Procedure for Purchasing a Condominium Unit

Foreigners who wish to purchase a condominium unit in the Philippines must follow the following steps:

1. Identify a suitable property: Locate a condominium building that meets the 60% Filipino ownership requirement.
2. Enter into a contract: Negotiate a price and terms with the seller and enter into a purchase contract.
3. Secure financing (if necessary): Obtain financing from a Philippine bank or other financial institution if required.
4. Execute the deed of sale: Sign the deed of sale and register it with the Land Registration Authority (LRA).
5. Pay taxes: Pay the necessary transfer taxes and registration fees to the LRA.

Restrictions on Land Ownership

Foreigners are prohibited from owning land in the Philippines outright. This restriction applies to all types of land, including agricultural, residential, and commercial properties. However, there are exceptions for:

• Foreign diplomatic missions and international organizations with treaty agreements with the Philippines.
• Foreign corporations that have been granted a special permit by the Philippine government.

Conclusion

Foreigners can legally acquire condominium units in the Philippines as long as they meet the 60% Filipino ownership requirement. However, they are not permitted to own land outright. These restrictions are in place to protect Philippine land resources and ensure that ownership remains predominantly in the hands of Philippine citizens.