Job Recruitment Website - Ranking of immigration countries - In the Philippines, foreigners can only buy apartments, not houses with land. What does this mean?
In the Philippines, foreigners can only buy apartments, not houses with land. What does this mean?
The Philippines is a country with private ownership of land. The landowner must be a Filipino national.
Apartment buildings can be sold to foreigners, because like the company law, 40% of the total number of apartments can be sold to foreigners, and at least 60% should be sold to Filipinos. Because the land of the apartment building is collectively owned by this building, it is ok. However, if you buy a house with land, you have land and only one owner. This owner can only be a Filipino, not a foreigner.
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