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McRel Properties
Welcome! We have Makati Real Estate Listings - Buyers & Seller's Representative. Come on down and browse our official website.
Right To Own Philippine Properties
For all our foreign owners who are looking to buy property in the beautiful Philippines, we have listed below additional information on "Philippine Real Estate Ownership Laws", which we are sure you will find very helpful.
The general rule is that only Filipino citizens and corporations or partnerships, at least 60% Philippine owned are entitled to acquire land in the Philippines. As an exception to this rule, an alien acquisition of Philippine real estate is allowed in the following cases. Acquisition before the 1935 constitution. Acquisition thru hereditary succession if the foreign acquire is a legal heir. Purchase of not more than 40% interest as a whole in a condominium project. Purchase by a former natural born Filipino citizen subject to the limitations prescribed by law. Filipinos who are married to aliens retain their Filipino citizenship, unless by their act or omission they are deemed to have renounced their Filipino citizenship.
Ownership of Land in the Philippines is highly-regulated with land ownership reserved for persons or entities considered Philippine nations or Filipino citizens. For this purpose, a corporation, owned 60% by Filipino citizens is treated as Philippine nationals Foreigners interested in acquiring land or real property through aggressive ownership structures must consider the provisions of the Philippine's Anti-Dummy Law to determine how to proceed. A major restriction is the law is the restriction on the number of the alien members on Board of Directos of Landholding company which is limited to 40% allien participation.
Life, Liberty and Land Restrictions on Foreign Ownership
of Land in the Philippines
Exceptions to the restriction on foreigners acquisition of land in the Philippines are the following:
- Acquisition before ten 1935 constitution
- Acquisition through hereditary succession if the foreigner is a legal or natural heir
- Purchase of not more than 40% interest in a condominium project
- Purchase by a former natural-born Filipino citizens subject to the limitations prescribed by law
- Filipinos who are married to aliens who retain their Filipino citizenship. Unless by heir act of omission they have renounced their Filipino citizenship.
Foreigner Ownership as a Philippine Corporation
Foreign nationals or corporations may completely own a condominium or townhouse in the Philippines . to take ownership of private land, resident ail house and loot, and commercial building and lot foreigners may set up a Philippines corporation in the Philippines . this means that the corporation owning the land has less than or up to 40% foreign equity and it is formed by 5-15 natural persons of legal age as incorporators, majority of whom are Philippine residents.
What Our Clients Say
McRel Properties is very professional and helpful throughout the process and we are very pleased with working with them. They are also knowledgeable about the properties they are selling.
Paula Wilson, Media Analyst
When looking for a real estate agent, not only did we look for credibility and competency, but – more importantly – trust. We met with many agents in the area, but when we worked with McRel Properties we knew that not only were we in good hands, but we also knew we had found a team that we could trust and that would have our own best interests in mind.
Anna Moreno, Business Manager
McRel Properties helped me and my wife find and buy our dream condo at the price we wanted. I am so thankful that the McRel Properties was the one we worked with.
Michael Holz, SEO Analyst
