Question 1

Can foreigners own a condominium in the Philippines?

Accepted Answer

Yes, foreigners can own condominium units in the Philippines under the Condominium Act (RA 4726), provided the total foreign ownership in any condominium project does not exceed 40% of the total units. Foreign buyers own the unit itself (not the land), and 100% ownership of their individual unit is permitted within this quota.

Question 2

Can foreigners buy land in the Philippines?

Accepted Answer

No. The Philippine Constitution (Section 7, Article XII) prohibits foreign nationals from owning private land. This applies to all types of private land, including residential lots, commercial lots, and agricultural land. Foreigners can, however, enter into long-term land leases (up to 50 years, renewable for 25 years) under the Investors' Lease Act.

Question 3

What is the 40% foreign ownership rule for condos in the Philippines?

Accepted Answer

The 40% foreign ownership rule means that in any given condominium building, no more than 40% of the total residential units can be owned by foreign nationals. The remaining 60% must be owned by Filipino citizens or corporations. Popular buildings in BGC and Makati can fill their 40% foreign quota quickly, so it's important to verify availability before buying.

Question 4

Which Philippine visa options are available for foreign property buyers?

Accepted Answer

Foreign property buyers in the Philippines can consider: the Special Resident Retiree Visa (SRRV) for those aged 35+ with qualifying deposits, the Special Investor Resident Visa (SIRV) for investors of USD 75,000+, or simply maintaining a tourist visa for property ownership purposes. Visa status does not affect the legal right to own a condominium unit.

Foreign Ownership Checker

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