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Cant own the land


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lazydays

After a few years of research and experience of the Phils,we at the moment,are very happing renting.

However,we may just buy a property some 5 years down the road,in my wifes name.(We will have been married 7yrs by then).

It will be a modest single story,like 2/3 bedroom.I will pay only what i can afford to lose,in the event of the marriage collapsing in future years.

We do have a ph joint bank account,(for household expenditure).

I have a sole ph bank account.

My wife has a sole ph bank account,(she works full time).

A significant ammount of my money will remain (secret) in my home country,split into different institutions,i nicknamed it my Insurance Policy.

 

I would do exactly the same thing if i had married a western women again,having previously been through the ringer in a previous divorce.

 

Never Ever put all your eggs in one basket,the only person you can ever trust 100% is yourself.

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What you say is true, but prices would become outrageous if one foreigner could buy land on the island I want to be.

OK, so your reason for wanting the laws to stay as they are is based purely on YOUR ability to buy at cheap prices. Here is a news flash. There are no more cheap prices (not like there used to be), even without foreign ownership. I can think of a dozen countries in the Caribbean that allow foreigners to buy land and own businesses, and in every country, the local economy gets a huge boost from the additional capital, thereby allowing the locals to still be able to afford the land. Most people here can't afford land now because they can't find decent paying jobs. There are no decent paying jobs because of the draconian investment laws (including the real estate laws). I don't see where the present laws are doing the citizens any favors at all.

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lazydays

of course it will be bad sometimes that a foreigner can't own the land.

But the PL only protect there own people.

 

If any foreigner can buy land the prices will increase so that the locals can't buy it anymore.

Be serious, nearly all of us are rich here in the PL (don't get me wrong, but with a western retirement you are rich here, poor in your home Country).

Thats the reason why the most of us are here.

 

I agree to a certain extent,we have good examples in my home country,where rich city types have bought up local properties for holiday homes in quaint seaside villages,forcing prices to soar.

Young locals on local wages can no longer afford to buy,so they move to the cities,for higher paid wages,hoping one day to be able to afford to retire in their home village.

In the meantime these villages are becoming ghost villages out of holiday season,business's closing for lack of all year round customers.

The local authorities are now having to finance budget homes,only saleable to bonafide residents,to help stop the outflow of young locals to the cities.

Edited by lazydays
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What you say is true, but prices would become outrageous if one foreigner could buy land on the island I want to be.

OK, so your reason for wanting the laws to stay as they are is based purely on YOUR ability to buy at cheap prices. Here is a news flash. There are no more cheap prices (not like there used to be), even without foreign ownership. I can think of a dozen countries in the Caribbean that allow foreigners to buy land and own businesses, and in every country, the local economy gets a huge boost from the additional capital, thereby allowing the locals to still be able to afford the land. Most people here can't afford land now because they can't find decent paying jobs. There are no decent paying jobs because of the draconian investment laws (including the real estate laws). I don't see where the present laws are doing the citizens any favors at all.

 

Maybe you are right.

But many countries in Europe stop sale land to foreigners.

And the most here don't want to start business.

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lazydays

of course it will be bad sometimes that a foreigner can't own the land.

But the PL only protect there own people.

 

If any foreigner can buy land the prices will increase so that the locals can't buy it anymore.

Be serious, nearly all of us are rich here in the PL (don't get me wrong, but with a western retirement you are rich here, poor in your home Country).

Thats the reason why the most of us are here.

 

I agree to a certain extent,we have good examples in my home country,where rich city types have bought up local properties for holiday homes in quaint seaside villages,forcing prices to soar.

Young locals on local wages can no longer afford to buy,so they move to the cities,for higher paid wages,hoping one day to be able to afford to retire in their home village.

In the meantime these villages are becoming ghost villages out of holiday season,business's closing for lack of all year round customers.

The local authorities are now having to finance budget homes,only saleable to bonafide residents,to help stop the outflow of young locals to the cities.

Edited by lazydays
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What you say is true, but prices would become outrageous if one foreigner could buy land on the island I want to be.

OK, so your reason for wanting the laws to stay as they are is based purely on YOUR ability to buy at cheap prices. Here is a news flash. There are no more cheap prices (not like there used to be), even without foreign ownership. I can think of a dozen countries in the Caribbean that allow foreigners to buy land and own businesses, and in every country, the local economy gets a huge boost from the additional capital, thereby allowing the locals to still be able to afford the land. Most people here can't afford land now because they can't find decent paying jobs. There are no decent paying jobs because of the draconian investment laws (including the real estate laws). I don't see where the present laws are doing the citizens any favors at all.

 

Maybe you are right.

But many countries in Europe stop sale land to foreigners.

And the most here don't want to start business.

You started businesses here. I'm sure that many more would do so, if they could legally do so and have some assurance they wouldn't lose everything if their relationship failed. I believe that if the law was changed to allow foreign ownership, there would have to be a residence requirement to make sure that the economy prospered long-term. That wouldn't be a bad idea for Filipinos either. I know several Filipinos who live in the US who own land in the Philippines. Their land just sits here and adds nothing to the local economy. Absentee land ownership is NEVER a good idea.

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First, Douglas, you need to look up the Philippines Anti-dummy law (I like that, by the way). That will give you more information on what you are asking.

 

Yeah I know how to use google really well.

 

But where does it say in the company has to be financially active.

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mistaeric

Ok if all this is true,then what do the Koreans know that the rest of us don't?? Because they are buying up shit left and right in the Phils!!!!!

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Paul
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?

 

----------------------

 

But where does it say in the company has to be financially active.

 

I haven't searched for specific information about this anywhere, Douglas. (This is because I am not interested in owning a home here.) I am only going by what I have heard in the "Philippined" rumor mill. That is why I quoted what I did, above, from my previous post. Usually, though, the rumor mill I visit from time to time usually knows something before the general public does.

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State Trooper

First, Douglas, you need to look up the Philippines Anti-dummy law (I like that, by the way). That will give you more information on what you are asking.

 

The 100% control I wrote about are about responsabilities, having 100% control of the company is indeed not legally possible.

 

You have to trust your partner shareholder, but in all cases I think this option is more reliable than putting it on a GF or wifes name.

 

I also would like to know how to make this more reliable for the foreign shareholder, except for the words of the partner shareholder(s).

 

Kicking back in my rocking chair getting ready for the next soap opera to start...another installment of "how the foreigner got screwed" should be comeing up for our viewing pleasure shortly. coffee.gif

 

Seriously, I suggest that you listen to the advise that you are being given. The folks on this forum have seen it all, researched it all time and time again. In a country that stacks the game against the foreigner trying to circumvent the rules will not work out for you in the end. Good luck to you

 

Doug and Sally

 

You are right, it's all about trust. But you shouldn't generalize the situation.

I would say that you are looking down on Filipinos being all crooks, which is not the case.

For any foreigner that wants to buy land in the Philippines this is the best solution, or do you have a better solution?

 

Tommy

 

I agree. It is all about trust. I also agree that not all Filipinos are crooks, just as in any culture, not all people are. But, my point is, are you willing to take that chance and trust the person you are dating / involved with / married to, etc., in order to put money, time, and energy into building a corporation, later to buy land to build a home on it? I'm not, period.

 

Personally, I know of too many stories that ended up like the one I quoted in my post, above. The foreigner came here, dumped a bunch of money into setting up the corporation, spending money to hire employees, etc., just to get fecked over later. That is enough to cause me to say, "No way, Mac."

 

------------

 

EDIT: I mean, think about it, folks. Why do you think more people don't invest more money into the Philippines? Because those are the ones who do their research prior to attempting to buy land here. Primarily, those who buy / build homes here from abroad, are people who completely trust their wives or girlfriends. All too often, though, it is due to ignorance on their part. Later, they find out the wife / girlfriend has done similarly to what I posted above, and sold the house out from under him.

 

Remember folks, as the foreigner in this country, you will always, always, always, come out on bottom when it comes down to the wire. If anyone is going to be screwed in the deal, it will be you.

 

------------

 

Just to throw mytwocents.gif

 

What about a foreigner who took Filipino citizenship?Could he/she buy land?I presume the answer is yes??Perhaps that person might be trusted more than a local(no offence intended as it was mentioned/advised in an earlier post not to go into business with a Filipino)?

 

Just another thought.It seems amazing a foreigner could own an entire apartment block,but not the land it sits on.

 

Yep, he/she certainly can, under that circumstance. Michael Gleissner, a German entrepreneur, is the man behind Bigfoot. He owns all the land his company buildings (and he has a lot of them) are built on. How is that possible, people may ask? He was granted Filipino citizenship.

 

------------------------

 

I have never done much research into it. But, there is possibly one other way that you can buy land here, without getting screwed over. That would be to buy it in the name of your child, by a Filipino National. So, if you are married (or not) and have a minor child from that union, you can serve as the child's trustee to buy land in that child's name.

 

If interested in owning (silly me, what was I thinking?) buying land here, I would suggest doing a bit of research down that particular avenue.

 

HTH

 

YES......If you have a child who is a Philippine National you could in theory set up a trust whereby you, the foreigner, acted as trustee. You could then control the land. Ive thought about this as an option. I trust my wife but lets face it..she is female and that species has been known to do unpredictable things. This idea is something I want to explore with my attorney.

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A_Simple_Man
YES......If you have a child who is a Philippine National you could in theory set up a trust whereby you, the foreigner, acted as trustee. You could then control the land. Ive thought about this as an option. I trust my wife but lets face it..she is female and that species has been known to do unpredictable things. This idea is something I want to explore with my attorney.

 

I've seen that tried too. In both cases, when the foreigner and wife separated, (case 1 they were married and case 2 they were living together), the wife was awarded guardianship of the children with ability to make all decisions for them. Only 2 cases that I know of but that's 100% against from my viewpoint. What it meant was . . the foreigner was NOT allowed to live in or sell the home . . child and mother ARE allowed to live in or sell home. Of course the mother never wants to sell the home while the foreigner is still alive :D

Edited by Dave_Hounddriver
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fred42

So if leasing is about the only way a foreigner can feel secure (at least for 50 years) why is it that Filipinos are not bending over backwards offering leases to foreigners?

We have quite a bit of land here and Im thinking of subdividing half of it into 200sqr meter lots on titled land,put in a road,and utilities and then lease to expats.

Might ask my Lawyer here if these leases are transferable so if the lease holder wishes to sell the lease,they can do so.

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hagler

Heres how I do it.

 

It is NOT a way for me as a foreign national to own freehold land in PI( and I strongly believe that foreign nationals should not be able to own freehold property but that is an argument for another lunch-break) but it does offer me a greater security of tenure and has worked well for me for many, many years in Thailand and is working well so far in the Philippines.

 

The current arrangement I have in the Philippines is that an 19 year old single female has purchased several properties over which I have a registered lease for the usual 25 by 25 period along with a few non standard clauses that relate to the redevelopment rights of the property. I have never been to bed with her, and never will, she is not from the bar scene, is from a good moral upstanding Christian family and is currently living and studying in Australia and is "visa guaranteed" by me as well as being employed part time in one of my companies and also shares an apartment (and pays rent) I own with 2 girls from Thailand who are also studying here and are on the same "arrangement" for some of the properties I own in Thailand. When she has completed her studies in approximately 3 1/2 years time she will be eligible for Permanent Residency and will be able to stay in Australia if she wants or she can choose to work just about anywhere ( Australian Tertiary qualifications are well regarded worldwide) or even return to the PI and secure a decent job with a multinational if she wanted to.

 

In basic terms the "arrangement" suits both sides really well and is a "win-win" situation. Her "side" is not just her but her family unit as a whole and they can all see the benefits of the arrangements both in the short term and the long term. They also know that her younger siblings will also have the same chance to do as she has done if they so desire in the years to come. On my side it allows me the opportunity to do some property development (one of my businesses in Australia) and have nice places to stay in places I would usually not have the opportunity to do so as well as helping someone with a better start in life.

 

This way works for me and has done so for the last 20 years in Thailand where I do have quite a bit of property , both residential and commercial as well have some really strong bonds with families I have helped in getting their kids a much better future.

 

The biggest mistakes I have seen in property purchases with "partners" by foreigners in South East Asia over the years have been

 

* buying property with someone they are romantically involved with

* buying property in a town, city or location that the person whose name on the title knows well

* letting the person who owns the property pay the annual rates and taxes for the property

 

In my case the person who is buying the property has never seen the property as it is usually really remote geographically from where they are from and have nothing to do with the day to day running of the property ( an enduring power of attorney takes care of that). It really is a case of "out of sight and out of mind" and they really do just get on with their lives and forget about it after a very short period of time leaving me to do my thing.

 

Oh and of course if the property is redeveloped and the resulting end products sold they get a nice , unexpected and relatively speaking "bonus" . The look on their face when they see the cheque is worth more than anything.

 

Anyway that how I do it and it has worked for me so far.

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RogerDuMond

Heres how I do it.

 

It is NOT a way for me as a foreign national to own freehold land in PI( and I strongly believe that foreign nationals should not be able to own freehold property but that is an argument for another lunch-break) but it does offer me a greater security of tenure and has worked well for me for many, many years in Thailand and is working well so far in the Philippines.

 

The current arrangement I have in the Philippines is that an 19 year old single female has purchased several properties over which I have a registered lease for the usual 25 by 25 period along with a few non standard clauses that relate to the redevelopment rights of the property. I have never been to bed with her, and never will, she is not from the bar scene, is from a good moral upstanding Christian family and is currently living and studying in Australia and is "visa guaranteed" by me as well as being employed part time in one of my companies and also shares an apartment (and pays rent) I own with 2 girls from Thailand who are also studying here and are on the same "arrangement" for some of the properties I own in Thailand. When she has completed her studies in approximately 3 1/2 years time she will be eligible for Permanent Residency and will be able to stay in Australia if she wants or she can choose to work just about anywhere ( Australian Tertiary qualifications are well regarded worldwide) or even return to the PI and secure a decent job with a multinational if she wanted to.

 

In basic terms the "arrangement" suits both sides really well and is a "win-win" situation. Her "side" is not just her but her family unit as a whole and they can all see the benefits of the arrangements both in the short term and the long term. They also know that her younger siblings will also have the same chance to do as she has done if they so desire in the years to come. On my side it allows me the opportunity to do some property development (one of my businesses in Australia) and have nice places to stay in places I would usually not have the opportunity to do so as well as helping someone with a better start in life.

 

This way works for me and has done so for the last 20 years in Thailand where I do have quite a bit of property , both residential and commercial as well have some really strong bonds with families I have helped in getting their kids a much better future.

 

The biggest mistakes I have seen in property purchases with "partners" by foreigners in South East Asia over the years have been

 

* buying property with someone they are romantically involved with

* buying property in a town, city or location that the person whose name on the title knows well

* letting the person who owns the property pay the annual rates and taxes for the property

 

In my case the person who is buying the property has never seen the property as it is usually really remote geographically from where they are from and have nothing to do with the day to day running of the property ( an enduring power of attorney takes care of that). It really is a case of "out of sight and out of mind" and they really do just get on with their lives and forget about it after a very short period of time leaving me to do my thing.

 

Oh and of course if the property is redeveloped and the resulting end products sold they get a nice , unexpected and relatively speaking "bonus" . The look on their face when they see the cheque is worth more than anything.

 

Anyway that how I do it and it has worked for me so far.

This doesn't apply to you because you aren't romantically involved with the girl. Others need to know that you can't lease land from your spouse. If someone does this with a girlfriend and then gets married, the lease becomes void.

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