How can a single foreigner legally possess land in the Philippines?

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10 ай бұрын

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Пікірлер: 57

@Joepoe20041 10 ай бұрын

As a foreigner don’t buy land unless you’re married and you relinquish all your ownership to your spouse. You can buy a condominium which will be in your name and you can sell it if you wish. For corporations there are lot of horror stories regarding partnership. Big multi million dollar corporations are ok since they can absorb losses and can write it off.

@Alex_Kosh 10 ай бұрын

Thank you for watching and your opinion

@philippinesdreamorreality 10 ай бұрын

When you get married , also good to get the power of attorney, so you don't get high jacked.

@garyxyz4400 10 ай бұрын

In reality you never really own property in any country. Government lets you use the property for your benefit as long as you keep current with the taxes and it is not needed to benefit the masses. I could be wrong but I believe that to be the way of most. Otherwise good video. Thank you for sharing.

@Alex_Kosh 10 ай бұрын

I absolutely agree with you. Right now many Russian properties in "progressive" western countries were taken by other governments. The Russian government also took properties of other countries. The same can happen all over the world. We can only reduce the risk of losing property but not illuminate.

@biglance 10 ай бұрын

Same with the $ in your bank you don't own it, you have technically signed it over to the bank and they can take it at anytime :) peace.

@Alex_Kosh 10 ай бұрын

Right. Money of Russian people right now blocked in Russian banks

@vlogcritter 10 ай бұрын

True, but it about single ownership, regardless everything else outstanding

@HuLmA101 10 ай бұрын

me as a foreigner, i know i cant own the land so why waste money. i can rent a house very cheap. if i have a child with filipina i will name the property to my child not to my wife. rent first. it is not our land anyways why waste time, just have peaceful and enjoy your life. youll never know you will die tomorrow by accident😂 your wife is lucky😂

@Bartosz_Bart 10 ай бұрын

A very good episode. It's great that you wanted to tackle this topic. In all countries, it is best to use the advice of professionals, the more so that they will adjust the entire action plan to your needs and help secure assets and capital. Kind regards...

@Alex_Kosh 10 ай бұрын

Thank you for watching and your support, I agree with you

@Crystal_G_1989 10 ай бұрын

The reason about 60% is there lots of Chinese in the Mainland, want to buy land in the Philippines, if the government allowed 100% most business here are Chinese and its not good in Philippine Geopolitics and economy... We dont want to be controlled by Chinese any way.

@Alex_Kosh 7 ай бұрын

Thank you for watching and for your opinion.

@philippinesdreamorreality 10 ай бұрын

Good video Alex, I like the many questions you asked.

@Alex_Kosh 7 ай бұрын

Thank you for watching and I'm glad you enjoyed it.

@rosemariepasaylo76 5 ай бұрын

Great job sir❤❤

@Alex_Kosh 5 ай бұрын

Thank you for your support 😊

@LilyBeth-wm6lg 10 ай бұрын

Great video Alex ❤

@Alex_Kosh 10 ай бұрын

Thank you, Lily ☺️

@MyLifeThai371 10 ай бұрын

I see on "every man has a story" that a woman was just murdered in Dumaguete, Philippines in broad daylight. A man asked for money from a Filipino woman and she just kept walking. He ran up behind her and stabbed her in the back of the neck and she died on the way to the hospital. Everyone else on the street called the police and arrested the man. Be safe Alex.

@Alex_Kosh 10 ай бұрын

Thank you for the warning, glad that he was arrested

@josephkumnick7696 10 ай бұрын

Thank you!

@Alex_Kosh 7 ай бұрын

Your welcome

@alexel5745 10 ай бұрын

Hey Alex. Thanks for the video. Sounds a bit complicated but possible 😅

@Alex_Kosh 7 ай бұрын

Thank you for watching and for your opinion.

@philippinesdreamorreality 10 ай бұрын

It's very true that as far as I know we can't really own property in any other countries. In the United States you think you own 100% of property, till you default on the taxes and your gov., Sweeps your property like a rug from under your feet than you have nothing. Another thing , you can do . I heard this from other Filipino Attorneys. Power of Attorney on any land you lease, just say how many years you want on that land and you pretty much have all the control for the years you lease it.Its still the 60/40 but you hold all control for the period of the lease.

@Alex_Kosh 7 ай бұрын

Thank you for watching and for your opinion.

@JAB63050 9 ай бұрын

IMO, leasing will be the best option however you have to do proper diligence on the lot/ownership (i.e. clear title etc), and have a good lawyer.

@Alex_Kosh 9 ай бұрын

Thank you for your opinion

@RoyMusic11111 10 ай бұрын

The bottom line Alex is be very very careful because the 60% shares going to the Filipino's will nearly always win out under the Philippines law. Also watch out for all the taxes!!! It will cost you. I would not buy using a corporation because too many foreigners have seen their share holders 60% take atleast 60% of all the money the foreigner has invested. Also watch out for some not so honest solicitors when drawing up your contract. Good Luck Alex or thanks Alex for making this video which has been very good valueable legal information. This solicitor does sound very good and he knows his business. Q. What legal protection does a foreigner have if after a contract is drawn up by a solicitor and the solicitor I'd a part share holder and then later forces the foreigner to sell or a Filipino family member who have the majority shares 60%?

@Alex_Kosh 10 ай бұрын

Thank you for watching and your opinion

@uriahthehittite2309 10 ай бұрын

The lack of written contract usually wins out. The foreign investor who put up the 60% capital of the shares for the filipino shareholders should be clear that it is a loan that needed to be paid back in some form of contract. There are lawyers and there are lawyers. Getting an experienced lawyer to protect one's interest in a commercial venture or purchasing control through possession and profit of property in a foreign land is a must. Many foreigners who have no experience running a business will invest in other lands and don't do their due diligence.

@francoisplaniol1489 10 ай бұрын

Thank you! A lawyer to start with...

@Alex_Kosh 10 ай бұрын

You're welcome

@francesmcdonald8145 10 ай бұрын

Wow that’s alot of requirement here in the USA 🇺🇸 you don’t worry any of that requirement the whole sale is in the entire package of the property’sale

@Alex_Kosh 10 ай бұрын

It's not so easy but still doable

@vlogcritter 10 ай бұрын

Because we are willing to sell out or country. There is a lot of property owned by foreigners in America helping to drive up already high prices

@JunBermz 10 ай бұрын

If it’s very easy for a foreigner to buy land in the Philippines, it will raise the cost of real estate, and Filipinos cannot own their own land anymore. Primarily Chinese people will migrate and make us a province of China.

@vlogcritter 10 ай бұрын

@@JunBermz are you going tell us , or just make a statement?

@josephmarco755 9 ай бұрын

In US whole sale the entire package? in the midwest of States, a big farmland is owned already by China that US congress and senate is already worried and in question, you have to look , hear, and listen in the news. Here even in Vancouver Canada, chinese buy most of houses that the local Canadian have a hard time to buy because it is up to the roof now.

@Jon55034 9 ай бұрын

hi alex, what do you do for a living?

@Alex_Kosh 9 ай бұрын

Hi, I record videos

@Jon55034 9 ай бұрын

Is Dumaguete your favourite place in SE Asia?

@RoyMusic11111 10 ай бұрын

What is this lawyers contact details in Cebu and what are his fees?

@Alex_Kosh 10 ай бұрын

Contacts in the description

@a.t.a72 8 ай бұрын

Long story short, don’t buy property in Philippines

@Alex_Kosh 7 ай бұрын

Thank you for your comment.

@ulyssesfewl1059 10 ай бұрын

That was a lot of words to say nothing at all. Filipino Lawyers are experts at doing that. Playing with words! "possess" v's "own". Just become a squatter and "possess" the land. Sole ownership of land by a foreigner is impossible. 40% ownership is NOT ownership. Please stop promoting this notion that foreigners can own land in the sense of ownership in the west.

@Alex_Kosh 10 ай бұрын

Thanks for watching