anyone here to advise me on buying island in the Philippines

evansvincent84 wrote:

looking for a foreigner or local who knows all procedures to acquire Island

On Sept 6, 2021, you made the same post and received many quality answers.

You had 17 replies and didn't have the courtesy to acknowledge any of them.

https://www.privateislandsonline.com/re … ility=sale

Due to the law, you cannot own property in the Philippines unless you are a Filipino yourself. The focus is the land, so condo ownership is fine, as you do not have exclusive use of the land under it.

You will need a Filipino to be on the property deed.

This guy is a troll who just wants to see reactions. Even Forrest Gump could use Google.

captdcc62 wrote:

This guy is a troll who just wants to see reactions. Even Forrest Gump could use Google.

Forrest Gump: 1994
Google: 1998

Even back to the future won't help: 1985

Go to Ace Hardware, Wilcon, etc. You'll find vendors selling islands  . . . for your kitchen.

FilAmericanMom wrote:

Go to Ace Hardware, Wilcon, etc. You'll find vendors selling islands  . . . for your kitchen.

He can go to Robinson's and buy 1,000 Islands. (Salad Dressing).

Skip Scott wrote:

Due to the law, you cannot own property in the Philippines unless you are a Filipino yourself. The focus is the land, so condo ownership is fine, as you do not have exclusive use of the land under it.

You will need a Filipino to be on the property deed.

Almost everyone BELIEVE so but its wrong   anyway 
Foreigners  CAN own max 40 percent of a company, which own land.  (If fullfiling some demands.)

I bought land and house but my partner had to sign  the deed . How can l get 40% of that deed ?

I think Scarborough shoal is for sale.

davidseaman wrote:

I bought land and house but my partner had to sign  the deed . How can l get 40% of that deed ?

You can own 40% of any business you wish to be involved in.

You cannot own more than 0% of any land you are involved in.

davidseaman wrote:

I bought land and house but my partner had to sign  the deed . How can l get 40% of that deed ?

A lot of time, money and frustration good sir but remember setting up a company to accomplish only a 40% max ownership in that company that you may own 40% of assets but your name will not be on the title unless somehow it can be encumbered by that company and the majority 60% owners can sell it.

Some thing that should have been thought about a long time before you paid your hard earn cash.

Girlfriend/wife you cannot lease from but a third party you can and even own all the improvements on that lot. 25+25 year lease and I heard recently there are thoughts of increasing the lease period.
The horse has bolted in my opinion and a re purchase and all that goes with it but one of our resident members, Coach53 is well up on company law and the processes involved within the Philippines for foreign entities. I would also recommend an expensive attorney if you go down this path.

Good luck and keep us posted.

OMO.

Cheers, Steve.

Jackson4 wrote:

I think Scarborough shoal is for sale.

Say that's a good idea his share will be the 40% that is under water on high tide.

Btw...Squatters have rights too.

davidseaman wrote:

I bought land and house but my partner had to sign  the deed . How can l get 40% of that deed ?

You CANT get  40%  of a DEED.

Foreigners CAN own 40%  of a COMPANY which own land (if fullfil some demands).

If the foreigner is MARRIED, he has marriage rights to that land anyway.  How big part depend of some factors, but half is common.
If get foreigner name at the DEED as "co-owner" (not correct law word) then WIFE CANT sell it without you sign too. (I dont know if its like that without spouse name of the deed too, the purchases of real estate Im involved in, we demand both spouses to sign to be sure.) This has saved a friend of mine from loosing land by his greedy ex wife couldnt sell the land without he sign too, which he hasnt.

Enzyte Bob wrote:

You cannot own more than 0% of any land you are involved in.

Why are such said still by long time forum members?   
I have corrected this common wrong belief many times, more than once including rather detailed explaination.

bigpearl wrote:

davidseaman wrote:

I bought land and house but my partner had to sign  the deed . How can l get 40% of that deed ?

A lot of time, money and frustration good sir but remember setting up a company to accomplish only a 40% max ownership in that company that you may own 40% of assets but your name will not be on the title unless somehow it can be encumbered by that company and the majority 60% owners can sell it.

Some thing that should have been thought about a long time before you paid your hard earn cash..

Yes.
Much work to have such company running legaly.

I have studied Phils laws much, but NOT checked whats allowed to put in STATUTES for a company, and I havent checked if such need to be extra high majority to CHANGE such later (as it is in some other countries). If so foreigners still DONT have the power to do CHANGES, BUT is protected against biger changes     if have 40%.
My business partner and I did a litle such statutes before start anyway. It say BOTH have to agree to all buying and selling of real estates.  So I dont know if its legaly valid, but my business partner ask for permission MORE than I have told him he need to anyway     (I have told he can decide himself without asking me about the cost, when its something we have agreed to before we knew the (smaller) costs, up to a max amount.)