How can a single foreigner legally possess land in the Philippines?
Vložit
- čas přidán 2. 09. 2023
- Thank you for watching my channel. I hope this video was useful for you.
If you want to support me
PayPal flurfy.sharfik@gmail.com
BuyMeACoffee buymeacoffee.com/AlexKoshCZcams
If you want to contact James:
+63 324798451
jms.ggo@gmail.com
🤝 How We Can Be Useful to You:
📽️ Recording Property with a Drone
Offer for residents of Dumaguete, Dauin, Bacong, Valencia on Negros Island, Philippines. We specialize in capturing your property through drone videography, perfect for selling or creating personal memories. Check out examples on our channel in the 'Every House Has a Story' playlist • Every house has a stor...
🏡 For Potential Property Buyers
If you're abroad and considering property in the area, we can create a personalized video tour for a better understanding. Our services include property investigation, involving discussions with neighbors and local authorities. Watch more details in this video: • DRONE footage of your ...
🏦 Property Management
Own property in Dumaguete, Bacong, Dauin, Zamboanguita, or Valencia? We offer assistance in profiting from your property through long or short-term rentals. Whether you lack time or prefer a hands-off approach, we can manage it for you, ensuring a return on your investment.
🏰 Share Your Real Estate Experience
Become a guest on our show, 'Every House Has a Story,' and share your real estate experience in the Philippines. Contact us via email at flurfy.sharfik@gmail.com
As a foreigner don’t buy land unless you’re married and you relinquish all your ownership to your spouse. You can buy a condominium which will be in your name and you can sell it if you wish. For corporations there are lot of horror stories regarding partnership. Big multi million dollar corporations are ok since they can absorb losses and can write it off.
Thank you for watching and your opinion
When you get married , also good to get the power of attorney, so you don't get high jacked.
In reality you never really own property in any country. Government lets you use the property for your benefit as long as you keep current with the taxes and it is not needed to benefit the masses. I could be wrong but I believe that to be the way of most. Otherwise good video. Thank you for sharing.
I absolutely agree with you. Right now many Russian properties in "progressive" western countries were taken by other governments. The Russian government also took properties of other countries. The same can happen all over the world. We can only reduce the risk of losing property but not illuminate.
Same with the $ in your bank you don't own it, you have technically signed it over to the bank and they can take it at anytime :) peace.
Right. Money of Russian people right now blocked in Russian banks
True, but it about single ownership, regardless everything else outstanding
me as a foreigner, i know i cant own the land so why waste money. i can rent a house very cheap. if i have a child with filipina i will name the property to my child not to my wife. rent first. it is not our land anyways why waste time, just have peaceful and enjoy your life. youll never know you will die tomorrow by accident😂 your wife is lucky😂
A very good episode. It's great that you wanted to tackle this topic. In all countries, it is best to use the advice of professionals, the more so that they will adjust the entire action plan to your needs and help secure assets and capital. Kind regards...
Thank you for watching and your support, I agree with you
I see on "every man has a story" that a woman was just murdered in Dumaguete, Philippines in broad daylight. A man asked for money from a Filipino woman and she just kept walking. He ran up behind her and stabbed her in the back of the neck and she died on the way to the hospital. Everyone else on the street called the police and arrested the man. Be safe Alex.
Thank you for the warning, glad that he was arrested
The reason about 60% is there lots of Chinese in the Mainland, want to buy land in the Philippines, if the government allowed 100% most business here are Chinese and its not good in Philippine Geopolitics and economy... We dont want to be controlled by Chinese any way.
Thank you for watching and for your opinion.
Great job sir❤❤
Thank you for your support 😊
Great video Alex ❤
Thank you, Lily ☺️
It's very true that as far as I know we can't really own property in any other countries. In the United States you think you own 100% of property, till you default on the taxes and your gov., Sweeps your property like a rug from under your feet than you have nothing.
Another thing , you can do . I heard this from other Filipino Attorneys. Power of Attorney on any land you lease, just say how many years you want on that land and you pretty much have all the control for the years you lease it.Its still the 60/40 but you hold all control for the period of the lease.
Thank you for watching and for your opinion.
Good video Alex, I like the many questions you asked.
Thank you for watching and I'm glad you enjoyed it.
Thank you!
Your welcome
IMO, leasing will be the best option however you have to do proper diligence on the lot/ownership (i.e. clear title etc), and have a good lawyer.
Thank you for your opinion
Hey Alex. Thanks for the video. Sounds a bit complicated but possible 😅
Thank you for watching and for your opinion.
The bottom line Alex is be very very careful because the 60% shares going to the Filipino's will nearly always win out under the Philippines law. Also watch out for all the taxes!!! It will cost you. I would not buy using a corporation because too many foreigners have seen their share holders 60% take atleast 60% of all the money the foreigner has invested. Also watch out for some not so honest solicitors when drawing up your contract.
Good Luck Alex or thanks Alex for making this video which has been very good valueable legal information. This solicitor does sound very good and he knows his business.
Q. What legal protection does a foreigner have if after a contract is drawn up by a solicitor and the solicitor I'd a part share holder and then later forces the foreigner to sell or a Filipino family member who have the majority shares 60%?
Thank you for watching and your opinion
The lack of written contract usually wins out. The foreign investor who put up the 60% capital of the shares for the filipino shareholders should be clear that it is a loan that needed to be paid back in some form of contract. There are lawyers and there are lawyers. Getting an experienced lawyer to protect one's interest in a commercial venture or purchasing control through possession and profit of property in a foreign land is a must. Many foreigners who have no experience running a business will invest in other lands and don't do their due diligence.
Wow that’s alot of requirement here in the USA 🇺🇸 you don’t worry any of that requirement the
whole sale is in the entire package
of the property’sale
It's not so easy but still doable
Because we are willing to sell out or country. There is a lot of property owned by foreigners in America helping to drive up already high prices
If it’s very easy for a foreigner to buy land in the Philippines, it will raise the cost of real estate, and Filipinos cannot own their own land anymore. Primarily Chinese people will migrate and make us a province of China.
@@JunBermz are you going tell us , or just make a statement?
In US whole sale the entire package? in the midwest of States, a big farmland is owned already by China that US congress and senate is already worried and in question, you have to look , hear, and listen in the news. Here even in Vancouver Canada, chinese buy most of houses that the local Canadian have a hard time to buy because it is up to the roof now.
Thank you! A lawyer to start with...
You're welcome
hi alex, what do you do for a living?
Hi, I record videos
Is Dumaguete your favourite place in SE Asia?
What is this lawyers contact details in Cebu and what are his fees?
Contacts in the description
That was a lot of words to say nothing at all. Filipino Lawyers are experts at doing that. Playing with words! "possess" v's "own". Just become a squatter and "possess" the land. Sole ownership of land by a foreigner is impossible. 40% ownership is NOT ownership. Please stop promoting this notion that foreigners can own land in the sense of ownership in the west.
Thanks for watching
Basically it’s a wealth transfer for the Philipins people. Period. Bad bad
Thank you for watching and for your opinion.
Long story short, don’t buy property in Philippines
Thank you for your comment.
If your beloved Filipina divorces you, are you in a big trouble ???
First she should try to get the divorce. There are no divorces in the Philippines, only annulment and it is very complicated to get