c. BUY A CONDOMINIUM UNIT
You can also opt to buy a condominium unit. You can actually own 100% of the unit but not more than 40% of the entire condominium project.
d. INHERIT THE LAND UPON YOUR SPOUSE’S DEATH
When your Filipina wife or husband dies, you and your children are the compulsory heir to her or his properties.
e. THROUGH A FILIPINO TRUSTEE OR WIFE
As a foreigner, work with a Filipino you can trust to put the title or ownership of the property in his or her name. This is usually the way small-scale investors use to acquire a property in the Philippines.
f. FORM A CORPORATION
You can also choose to form a corporation with Filipino partners under the 40% (foreign)-60% (Filipino) capital sharing. If you are thinking of developing a resort or a tourism facility, this iron-clad arrangement is the preferred property ownership for foreign investors. But these are the exceptions to this rule, and these exceptions are found in the following cases:
- Acquisition before the 1935 Philippine Constitution
- Acquisition through hereditary succession, if the foreigner is a legal or natural heir (see item D above)
- Purchase of not more than 40% interest in a condominium project (see item C above)
- Purchase by a former natural-born Filipino citizen subject to the limitations prescribed by law (natural-born Filipinos who acquired foreign citizenship is entitled to own up to 1,000-square-meter of residential land and 1-hectare of agricultural or farm land)
- Filipinos who are married to aliens who retain their Filipino citizenship, unless by their act or omission they have renounced their Filipino citizenship