Candor7,
Sorry, but foreigners are not allowed to own property in the Philippines. Filipinos can, and do, buy property, business, and anything else they want in the U.S., but we are not allowed to buy any property or start a business there.
My wife is buying a building lot in a subdivision in Laguna and I am required to sign an Affidavit of Waver stating that I understand, that as an alien, I am not qualified to own property in the Philippines. The inclusion of my name in any real estate transaction is only a formality and does not give me any right to the said property.
This is a document from the real estate developer and I just signed it today.
If anyone non-Filipino tells you that they own property there it is not true. The property will be in the Filipina wife’s or girlfriend’s name. If they own a business, the alien must have a Filipino partner who will have the controlling interest in the business.
Topsail
Sorry, but foreigners are not allowed to own property in the Philippines>>>>>>>>>>>>>>>
You do not have to be sorry. LOL.
There is a perfectly legal way of doing it using a corportation, 2 Philippino shareholders, trust documents and contracts.
All you need is a very good Philippino lawyer, and there are many.
The only reason I did not go was that a foreigner is not allowed to own firearms.
So we messed up our Phillipines occupation as well, eh?