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Faluango

Ocourse you can own the land... Who said you can't own the land? Just open a Philippines registered company (40% foreign owned, 60% Filipino owned)

 

You can control get 100% of the company.

 

Or... put it on your GF's name... and wait untill something happends and maybe you'll lose it.

 

Why lease it, or put it on your GF's name? Just register a company and let it buy your land. That's the safest way. Unfortunately, many people don't know about it.

Edited by faluang
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Since I cant own a land here. I bought container shipping vans and converted them into homes. I found this as an Ideal opportunity to cut down on living costs. You can own a home like mine a 100 percent without all the legal paperwork as they are technically removable shipping containers. If you like my idea I will be happy to show you around my place.

if you got some pics .. i'm sure many would love to see them

 

I would love to post some pics, however I am not sure if can do so.

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Paul
I would love to post some pics, however I am not sure if can do so.

 

Click here to create a new album.

 

Then just add (upload) images to that album.

 

If you have any problems, feel free to let me know.

Edited by Admin
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Thanks admin. I will try to do it now :D

Edited by xkylie
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Paul

Ocourse you can own the land... Who said you can't own the land? Just open a Philippines registered company (40% foreign owned, 60% Filipino owned)

 

You can control get 100% of the company.

 

Or... put it on your GF's name... and wait untill something happends and maybe you'll lose it.

 

Why lease it, or put it on your GF's name? Just register a company and let it buy your land. That's the safest way. Unfortunately, many people don't know about it.

 

The Philippine government is becoming more strict about this.

 

I may be wrong, but it is my understanding that the government has started checking to make sure the companies that are buying land are, in fact, not dummy corporations and are legitimate businesses. Can someone, anyone, correct this information if I am wrong here?

 

Oh, for me, putting land in a wife or girlfriend's name is not an option. I would have to trust someone implicitly in order to do that... and I don't.

 

Thanks admin. I will try to do it now :D

 

Do you have any larger images of your container homes to post?

 

800 x 600 would be great, if you do.

 

Please keep in mind, some guys here are older and their vision may not be that great. To be able to view larger images would be fantastic. I wouldn't mind it either.

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broden

Ocourse you can own the land... Who said you can't own the land? Just open a Philippines registered company (40% foreign owned, 60% Filipino owned)

 

You can control get 100% of the company.

 

Or... put it on your GF's name... and wait untill something happends and maybe you'll lose it.

 

Why lease it, or put it on your GF's name? Just register a company and let it buy your land. That's the safest way. Unfortunately, many people don't know about it.

 

The Philippine government is becoming more strict about this.

 

I may be wrong, but it is my understanding that the government has started checking to make sure the companies that are buying land are, in fact, not dummy corporations and are legitimate businesses. Can someone, anyone, correct this information if I am wrong here?

 

Oh, for me, putting land in a wife or girlfriend's name is not an option. I would have to trust someone implicitly in order to do that... and I don't.

 

Do you have any larger images of your container homes to post?

 

800 x 600 would be great, if you do.

 

Please keep in mind, some guys here are older and their vision may not be that great. To be able to view larger images would be fantastic. I wouldn't mind it either.

great piece of advice .. not just for putting something in someone else's name but also for giving someone else your name.. or taking on theirs .... so to speak

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fanboat

I would do a lease with option to buy on the land....than I have options to sell the whole place...yes?

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Paul

faluang advised:

 

Ocourse you can own the land... Who said you can't own the land? Just open a Philippines registered company (40% foreign owned, 60% Filipino owned)

 

You can control get 100% of the company.

 

Or... put it on your GF's name... and wait untill something happends and maybe you'll lose it.

 

Why lease it, or put it on your GF's name? Just register a company and let it buy your land. That's the safest way. Unfortunately, many people don't know about it.

 

 

I (Paul, aka Admin) replied against faluang's advice about putting land in a wife or girlfriend's name:

 

The Philippine government is becoming more strict about this.

 

I may be wrong, but it is my understanding that the government has started checking to make sure the companies that are buying land are, in fact, not dummy corporations and are legitimate businesses. Can someone, anyone, correct this information if I am wrong here?

 

Oh, for me, putting land in a wife or girlfriend's name is not an option. I would have to trust someone implicitly in order to do that... and I don't.

 

 

broden replied in agreement to my post:

 

great piece of advice .. not just for putting something in someone else's name but also for giving someone else your name.. or taking on theirs .... so to speak

 

 

xkylie confirmed, in another thread tonight (check the time stamps on the quotes), as to why a foreigner should NOT take advice similar to what faluang offered earlier in this thread:

 

The truth is I did all of this with the help of my girlfriend, at first it was just a vision, then we started looking for a land to lease, finally when we found one, I bought this containers vans and hired laborers to help me with converting this container van into homes. It was really fulfilling to see the result plus the fact that I feel much secure because I can sell this container vans anytime if I wish to. I learnt from a friend, he came here to the Cebu and married her girlfriend whom he knew for only six months, he decided to sell all his properties back in his hometown and settle here, he bought a house named to his wife (because he cannot own a land according to the Philippine law) and entrusted the girl his money, after 3 years of marriage, things didn't work out for them, after the break up that's when he learnt that the house has already been sold without his knowledge and there is nothing much left in his bank account. I felt sorry for my friend. Now his going back to his hometown through the help of his friends.

 

Years ago, I was advised by a very close Filipino friend, "Paul, never, ever go into business with a Filipino in the Philippines." This advice, friends and neighbors, certainly applies to marriage, which is merely a contract between two people, is it not? xkylie's friend found out too, the hard way.

 

Take this advice for what it's worth, folks.

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Ocourse you can own the land... Who said you can't own the land? Just open a Philippines registered company (40% foreign owned, 60% Filipino owned)

 

You can control get 100% of the company.

 

Just register a company and let it buy your land. That's the safest way. Unfortunately, many people don't know about it.

 

 

Can you please explain in detail how this is possible.

 

You would be helping a lot of people out if it is true.

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Faluango

Actually, I forgot to write something within my last post. If you operate a company that is sleeping (this means it is not generating any financial income) and owns land, the government can go against you.

 

The company I will operate will be generating financial income, so it should be legal.

If the company is not generating any income, and it owns property, you can indeed get in trouble.

In Thailand, the government took action towards these "sleeping property owning companies" several years ago, in the Philippines I'm not sure, but what I know is that the company has to be ACTIVE, and not a sleeping company.

 

 

Reply to Admin:

 

If the company generates income, the setup should be legal.

My business office will be located on the company's owned property and I will be renting 3 rooms to tourists, these rooms are also located on the company's property.

Edited by faluang
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Actually, I forgot to write something within my last post. If you operate a company that is INACTIVE (this means it is not generating any financial income) and this company owns land, the government can go against you.

 

I will do this, but the company I will operate will be generating financial income, so it should be legal.

If the company is not generating any income, and it owns property, you can indeed get in trouble.

In Thailand, the government took action towards these "dummy companies" several years ago, in the Philippines I'm not sure, but what I know is that the company has to be ACTIVE, and not a sleeping company.

 

 

 

Do you mind showing us where the law says all this ?

http://www.chanrobles.com/civilcodeofthephilippinesbook2.htm

[/url]http://www.chanrobles.com/default8.htm

 

Why does the company have to be active ?

 

Sorry if it sounds like a stupid question but I am very interested and I would like to see some facts.

Edited by Diver Douglas
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Faluango

Foreigners can not own land in the Philippines.

A Philippines registered company can own land in the Philippines.

Foreigners can own 40% of shares within a Philippines registered company, while the remaining 60% of shares have to be Filipino owned.

 

A Philippines registered company owning land in the Philippines while being financially inactive and having foreign shareholder(s) is illegal because the company could be used as an illegal setup for the foreigner(s) to own land in the Philippines. This case is illegal because it's abvious that the company is being used to own land and not to do business. It can get you into trouble with the government.

On the other hand, a Philippines registered company owning land in the Philippines that is financially active and having foreign shareholder(s) will not get into trouble. Because the company is doing business, it's abvious that it's main purpose is not to own land in the Philippines but to do business.

I could explain it differently, but this should be clear enough.

Hope you understood what I wrote, if not, read it again.

 

Hope this helped,

 

Tommy

Edited by faluang
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RogerDuMond
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Faluango

It's abvious because if the company is owning land and is and will not be financially active it's main purpose is to own the land in order for the foreigner(s) to use it.

The government knows this and can go against you.

 

A foreigner can get 100% control of a company but can not own more than 40% of the shares

Edited by faluang
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