Have you ever dreamed of owning a piece of paradise? Well, look no further. You can realize your dreams by investing in houses and lot and condominiums in the Philippines!

Why Retire in the Philippines

The Philippines is considered to be one of the premier retirement destinations for foreign expats who are looking for an exciting yet inexpensive tropical place where they can spend their retirement years.

With its warm climate (save for the occasional cyclones that regularly visit the country during the rainy season) and beautiful people, the country has indeed proven time and again that you can lead a fun, relaxing, and exotic lifestyle in any one of the country’s 7,107 islands – all for about $1,000 a month or less. As such, it’s easy to see how you can use your retirement savings, pensions or ongoing income to live comfortably in the Philippines. You can even hire your own domestic staff for as low as $30 per month so you don’t have to worry about the housework and all that.

By spending your retirement years in the Philippines, you get to enjoy your days in a variety of ways. You can simply laze away in the comfort of a hammock underneath a coconut tree and let the breeze cool you down, or you can lead a more active lifestyle and go swimming, scuba diving, boating, or fishing among its numerous beaches. For the more adventurous, you can go camping, hiking or off-road driving. Take your pick!

Now, if you’ve exhausted yourself with these stamina-challenging activities, you can always take a break and opt for a friendly golf session with your friends, or go to the movies at your leisure. You can also enjoy great bargains among its numerous modern shopping malls. Now, if you’re more of a night person, there are also some great bars and clubs that you can go to. How’s that for entertainment?

Owning a Real Estate in the Philippines

Without any doubts, the Philippines is a tropical paradise in its own right. And that is primarily why a lot of foreign nationals want to live here permanently. However, there is one catch – and a great one at that. Foreigners cannot simply buy real estate in the country. Existing Philippine laws restrict them from investing in houses and lot and condominiums in the Philippines. Only Filipino citizens, corporations with at least 60% Filipino ownership, and Filipinos with dual citizenships are afforded this right.

Naturally, this comes as a surprise to most foreigners, especially those of American and European descent, who are interested in investing in houses and lot and condominium in the Philippines. In their countries, nationality is not an issue when it comes to owning real estate properties. Anyone who can afford to buy real estate can do so without encountering any problems.

So, how can you or other interested individuals go about the problem? By law, foreign nationals can only own real estate in the Philippines if the property was acquired before the 1935 Constitution took effect, or if he or she is a legal or natural heir of a Filipino citizen.

Land acquisition is also possible if you are married to a Filipino citizen. However, please note that the title of the property will be in the name of the Filipino spouse.

Investing in houses and lot and condominiums in the Philippines is also possible if you have established a Philippine Corporation. The corporation should be at least 60% Filipino-owned and have a minimum of five (5) incorporators, including you. Once the corporation assumes a legal personality, you can now start investing in real property. Remember, you legally own 40% of the corporation. To be on the safe side, please consult a competent lawyer.

Alternatively, you can also enter into a lease agreement with Filipino landowners, and legally own the house (or any other building) that you will put up on that piece of land. Typical leasehold agreements may be made for an initial 50 year contract and renewable for another 25 years once the contract expires.

Retiring and investing in houses and lot and condominiums in the Philippines is possible. It may not be as straightforward a process as you may like but it is, without doubt, very much doable. Now, are you ready to spend your retirement years in complete bliss? Come stay in the Philippines! You will definitely love it.