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WHO CAN BUY PROPERTY IN THE PHILIPPINES?

Those entitled to own property as fully-fledged Philippine citizens

Philippine citizens who are residents of the Philippines

Philippine citizens who are residents of another country or working overseas who maintain their Philippine citizenship

Philippine dual citizens

Natural-born Philippine dual citizens (Those born with a Philippine and foreign citizenship as a result of the concurrent application of the laws of the Philippines and a
foreign country which consider one a citizen of each country, e.g., those born to a Filipino and foreign parent).

Natural-born Philippine citizens who subsequently acquire foreign citizenship involuntarily (i.e., without undergoing foreign naturalization, e.g., marrying a foreign
national whose country automatically considers the Philippine spouse its own citizen) and who have not renounced their Philippine citizenship by any act or omission.

Natural-born Philippine citizens who voluntarily opted to acquire foreign citizenship but eventually chose to reacquire their natural-born Philippine citizenship status
under the Philippine Citizenship Reacquisition Act of 2003 (Republic Act No. 9225), regardless of whether or not they have renounced their previous foreign
citizenship.

There are no area limits on the ownership by Philippine citizens of non-agricultural private land. Private agricultural land acquisition must not exceed a combined total
of 5 hectares (50,000 square meters).

Philippine corporations whose capital stock is 60% Filipino-owned

There are no area limits on the ownership by Philippine corporations of non-agricultural private land. Philippine corporations may lease, but not own, public
agricultural land not exceeding 1,000 hectares for two 25-year periods and own private agricultural land not exceeding a combined total of 5 hectares (50,000 square
meters).

Those entitled to own property under limited conditions

Natural-born Philippine citizens who voluntarily opted to acquire foreign citizenship through naturalization, thereby renouncing their Philippine citizenship, and
who do not choose to reacquire Philippine citizenship

Unlike Philippine citizens, former Philippine citizens who are natural-born Filipinos* are only entitled to own either 5,000 square meters of urban land or 3 hectares
(30,000 square meters) of rural land in the Philippines for business or other purposes. The land that may be acquired shall not be more than two parcels situated in
different municipalities or cities anywhere in the Philippines and shall not exceed the stated area limitations. Anyone who has Already acquired urban land is
disqualified from further acquiring rural land and vice versa. In the case of a married couple, the total land area that they are allowed to purchase cannot exceed the
above-stated limitations.

Foreign citizens and corporations

Foreign citizens and corporations may acquire and own condominium units where the common area is owned by a condominium corporation, 60% of which is
Filipino-owned. They cannot directly acquire and own land in the Philippines except through intestate hereditary succession, i.e., inheritance by operation of Philippine
laws on intestate succession and not by testate (through a will or testament) succession. They may, however, indirectly own land by subscribing to a Philippine
corporation the capital stock of which is 60% Filipino-owned. They may also lease private land for a maximum of two 25-year periods.

Foreign citizens and corporations investing in the Philippines may lease private land for a 50-year period and can be extended for another 25 years.

A natural-born Philippine citizen is one who does not have to do anything to acquire Philippine citizenship, in contrast to a naturalized Philippine citizen who has
to go through a naturalization process to acquire Philippine citizenship.

FOREIGN INVESTORS

LEGAL & DOCUMENTARY REQUIREMENTS

WHAT ARE THE TYPICAL REAL ESTATE TRANSACTION COST?

TITLE TO PHILIPPINE REAL ESTATE

STEPS IN CHRONOLOGICAL ORDER FOR THE REGISTRATION OF TITLE ( in case of tax declaration)

Note: This document is for information purposes only. The user assumes all risks for its use. BPO-KPO REALTY CORP. assumes no responsibility for such use