Quote:
Originally Posted by bzent
Can I open a corporation in the Philippines and buy it as a corporate house?
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For business or other commercial purpose ? 5,000 square meters of urban land or three hectares of rural land. Section 5 of Rule XII states: ?the land should be primarily, directly and actually used in the performance or conduct of the owner's business or commercial activities in the broad areas of agriculture, industry and services including the lease of land but excluding the buying or selling thereof."
A lot of people will try to tell you it is possible to own property as a foreigner in the Philippines but please take not of the
PRESIDENTIAL DECREE No. 715 - OTHERWISE KNOWN AS "THE ANTI-DUMMY LAW"
Foreigners my own buildings or houses in the Philippines legally; as long as they do not own the land on which it is built.
Foreign individuals, corporations or associations may lease land for a period of 25 years renewable for another 25 years. (P. D. No 471, Fixing a Maximum Period for the Duration of Leases or Private Lands to Aliens)
Companies or individuals investing in the Philippines may receive government permission to lease land for up to 50 years renewable for another 25 years. (Republic Act No. 7652, otherwise know as the Investors? Lease Act), but this is rare.