For our fellow Balikbayan countrymen who have made their careers abroad but wish to invest and earn from the different properties in the world of Real Estate Philippines, read this Balikbayan Buyers Guide for Real Estate Philippines to help you out, especially for beginners This guide includes summarized Real Estate Philippines Laws which are organized for your convenience and education. Click the link below to see the guide…
For Pinoys who have renounced their Filipino Citizenship, The first option is to apply for dual citizenship. Here’s how:
- If you are in the Philippines, file a “Petition for Dual Citizenship and Issuance of Identification Certificate (IC) pursuant to RA 9225” at the Bureau of Immigration (BI) and for the cancellation of your alien certificate of registration.
- Those who are not BI registered and overseas should file the petition at the nearest embassy or consulate.
Requirements:
- Birth certificate authenticated my the National Statistics Office (birth certificate from the NSO can be requested online and mailed to you)
- Accomplish and submit a “Petition for Dual Citizenship and Issuance of Identification Certificate (IC) pursuant to RA 9225” to a Philippine embassy, consulate or the Bureau of Immigration.
- Pay a $50.00 processing fee, schedule and take an “Oath of Allegiance” before a consular officer.
- The Bureau of Immigration in Manila receives the petition from the embassy or consular office. The BI issues and sends an Identification Certificate of citizenship to the embassy or consular office.
If a former Filipino who is now a naturalized citizen of a foreign country does not want to avail of the Dual Citizen Law, he or she can still acquire Philippine land based on BP (Batas Pambansa) 185 & RA (Republic Act) 8179 but limited to the following:
Natural-born Filipinos but have acquired foreign citizenships can still acquire properties in the Philippines but subject to land ownership limitations under Batas Pambansa Blg. 185 (BP 185), which was enacted in March 1982, and Republic Act 8179 (RA 8179), which amended the Foreign Investment Act of 1991.
For Residential Use (BP 185 – enacted in March 1982):
- Up to 1,000 square meters of residential land.
- Up to one (1) hectare of agricultural of farm land.
For Business / Commercial Use (RA 8179 – amended the Foreign Investment act of 1991):
- Up to 5,000 square meters of urban land.
- Up to three (3) hectares of rural land.
In terms of investing in Philippine Condominiums, there is no limit as they would be purchasing them using a Condominium Certificate of Title (CCT). Even Foreigners can own Philippine Condominiums.
For more information and to start your investment today so you can earn as soon as possible, contact
Balikbayan Buyers Guide for Real Estate Philippines people ask
Can a Balikbayan own property in the Philippines?Purchasing Property. Balikbayans seeking to purchase property in the Philippines have to abide by certain limitations as per the laws of the government.
Despite the restrictions, Balikbayans generally are allowed to buy and register land bought in the Philippines under their own name
Can a US citizen buy properties in the Philippines?The answer is yes, foreigners may own real estate property in the Philippines, but they are not allowed to buy and own land.
Foreign ownership of property in our country is not absolute and subject to restrictions. Non-Filipinos may purchase and own condominium units built on Philippine soil.
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