Overview
- Expats are allowed to purchase condominium units here in the Philippines. However, they must learn and follow strict guidelines and regulations to comply with the nation’s rules on foreign ownership.
- This article provides a guide for expats on the policies they must know before purchasing a property in the country.
- Aurelia Residences, found in the center of Bonifacio Global City, will be the sophisticated retreat expats can turn to as a home away from home. Each unit will be designed with high-class architecture, and they’ll be able to enjoy an address befitting of their lifestyle through its world-class amenities and sought-after location.
Many foreign nationals find themselves falling in love with the Philippines. They are drawn to its warmth, not just in climate, but also in its culture and sense of community. They’ve come to appreciate the gentle change of pace it offers. So much so that one question often comes to mind: can we truly build a life here?
Finding a lasting home here requires a deep understanding of local property regulations. This expat’s guide to buying a condominium in the Philippines will walk them through the essential policies they need to know. Aurelia Residences will offer refined living spaces that they can proudly call their own. Read on to learn what it takes to begin a new chapter here in the country.
Expats can own condominium units in the Philippines, though this opportunity comes with a few important conditions. Foreign nationals are permitted to purchase and hold title to a property provided that it still falls within the bounds of ownership regulations in the Philippines. Developers typically monitor this detail closely to ensure proper compliance.
That said, it’s important to note that ownership applies solely to the unit itself. It does not extend to the land beneath it. For this reason, expats need to work with experienced professionals who can guide them through the whole ownership process. Owning a high-rise in the country can be a personally rewarding experience with the right due diligence.
Before buying a condominium, expats must first understand that ownership comes with certain boundaries. While foreigners are generally allowed to purchase units, specific policies are in place to ensure compliance with national regulations.
The Condominium Act of the Philippines (Republic Act No. 4726) allows foreigners to own condominium units but with strict limitations: only up to 40% of the total occupiable properties within the building can be owned by foreign nationals. This rule ensures that the majority of the development is reserved for Filipino citizens. Developers are legally bound to enforce this cap, which means expats may face limited inventory.
Due to this restriction, they may be denied purchase if the project has already met the foreign ownership ceiling. Expats may consider purchasing a pre-selling unit from a new development like Aurelia Residences early on to ensure they secure a high-rise before the 40% limit is reached.
Foreigners are not allowed to directly own land in the Philippines, as current regulations limit property ownership to Filipino citizens. While expats can enjoy living and investing in properties in the country, they must do so within legal frameworks that restrict direct land acquisition.
This should not be a cause for discouragement, however. They may still explore alternatives such as purchasing condominium units or leasing the property for the long term. They can also inherit land if they are legally married to a Filipino spouse, but the title must remain under the spouse’s name. In this arrangement, the expat’s rights are limited to inheritance or usufruct, and not full ownership.
They do not need to hold permanent residency status in the Philippines to purchase a unit. Whether they’re a tourist, a retiree, or an investor on a temporary visa, they are legally allowed to own a high-rise residence so long as they comply with the 40% ownership rule. This accessibility makes condominiums a popular investment for non-residents who frequently visit the country or plan to retire here.
It is important to note that owning a property does not automatically permit them to stay for the long term. If they plan to live in a condominium for extended periods, they still need to secure the appropriate documents. Visas like the Special Resident Retiree’s Visa are available for foreign retirees who meet age and financial requirements, like a pension-based income. Meanwhile, the 13(a) Non-Quota Immigrant Visa allows permanent residence for expats who are legally married to Filipino citizens.
Another policy they should know about is that they may also acquire condominiums through a Philippine-based corporation, provided that it is at least 60% Filipino-owned. This structure is often used by foreign investors who want to manage multiple units at once. Their shareholding in the corporation must not exceed 40%, and the company must be registered with the Securities and Exchange Commission for compliance.
This route offers more flexibility, but it also comes with legal responsibilities. Incorporating a compliant business entity in the country involves regular filings and sometimes higher costs. For many expats, this is only a practical option if the condominium is part of a larger investment strategy and not a personal home purchase.
Positioned in the heart of Bonifacio Global City, Aurelia Residences will present a rare opportunity for expats to own valuable properties in the Philippines. We have a selection of pre-selling units available for early purchase— they’ll be able to secure a home they can call their own while complying with the limits established by government laws.
Aurelia will offer them unmatched convenience through its thoughtfully designed amenities. Expats can enjoy a 40-meter resort-style pool alongside private theaters and exclusive fitness centers that suit their lifestyles. Moreover, the strategic location of our high-rise will place them near key business hubs and establishments like Uptown Mall, providing them with the familiar, world-class setting they all know and love.
This expat’s guide to buying a condominium will allow you to approach your purchase with confidence. By understanding and following the key policies, you not only ensure that your ownership is valid but also protect your long-term interests as a foreign buyer.
For a high-rise address that matches your needs for compliance and luxury, Aurelia Residences is your standout choice. Contact us today for inquiries about our available pre-selling units.
