An OFW's Guide to Buying Properties in the Philippines
Filipinos away from home who want to invest their money in real estate would do well in familiarizing themselves with the laws that govern land acquisition in the Philippines as stated in the Constitution. There is no better way to secure a brighter future than to have a place of your own here at home.
Here are some facts that you will need to know before you proceed with any transaction and buy your dream house in the Philippines:
- Former natural born Filipino who acquires foreign citizenship may now invest and buy real estate in the Philippines.
- Filipino citizens and corporations and associations at least 60% of whose capital is owned by Filipinos may acquire private lands.
- Children born to a Filipino parent, whether legitimate or illegitimate, may inherit the property of the Filipino parent, even if the child is not a Filipino citizen.
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