Many nations that emerged from colonial rule in the 20th century, the Philippines is sensitive about foreign acquisition of domestic assets and has passed laws limiting land ownership to Filipino citizens. While this has prevented foreign mega-corporations from snapping up prime real estate, it has also made things a little complicated for individuals seeking to purchase property for their own private use. Get more information about real estate business on OFW Investment Property in the Philippines | Citi Global.
Consider the limitations
But for most individuals, owning 40 percent of a plot of land is not good enough; you would like to control all of your lands. So how can you get your hands on the remaining 60 percent?
The most common way around this problem is to set the property in the name of your spouse, spouse, or friend. Specifically, many male expats put their real assets into the titles of the Filipina wives and girlfriends. While doubtlessly easy and quick, this isn’t a smart choice to pursue. Fairly often, couples or friends end up on bad terms, because of cultural differences, communication issues, or simply mutual incompatibility that was not apparent at first.