Can you immigrate to the Philippines by buying a house? Look at the minefield!

As an archipelago country, the Philippines is located in Southeast Asia. Its rich tourism resources and good climatic conditions attract tourists from all over the world. Driven by tourism, other supporting industries have also developed. The huge population base of the Philippines has also driven the development of the real estate industry. Under the combined effect of economic development and population base, real estate has become one of the popular investment industries in the Philippines.

Good real estate investment prospects, lower housing prices, and high rental returns have also attracted many foreigners to consider investing in Philippine real estate while traveling in the Philippines. The Philippines also does not restrict foreigners from buying apartments in the Philippines. You can buy apartments in the Philippines with or without permanent residence status. It is also taking advantage of this opportunity that many immigrants/real estate agents in the market are also ready to move, one after another, under the banner of house purchase immigrants.

Today, Xiao Bian will give you a rumor: At present, there is no formal house purchase immigration program in Philippines. Most of the projects on the market under the banner of house-buying immigration are the products of a combination of SRRV classic plans and real estate.

1. Philippine Immigration Methods

There are many permanent residence/permanent residence projects officially withdrawn from the Philippines. In addition to quota immigration, the common methods are mainly divided into two categories: retirement immigration and investment immigration. The more common ones on the market are SRRV (Special Retired Resident Visa), sirv (Special Investment Resident Visa), asrv(Apeco Economic Zone Special Resident Visa), etc.

1. SRRV requires the main applicant to be at least 50 years old and deposit US $1-20,000 in the Philippines. After the SRRV identity is approved, the purchase of the house is completed first, and then the application to the Retirement Department to withdraw the deposit, and after this operation, the property cannot be resold, and resale means that the identity is canceled.

2. SIRV needs to invest US $75,000 in Philippine companies or buy Philippine stocks and cannot invest in real estate.

3. ASRV needs to have a residence in Apeco Special Economic Zone. It can rent or purchase real estate. Arguably the closest project to home-buying immigrants. But don't worry, first of all, let's take a look at the real picture of Apeco Zone below. I mean, investment in real estate still needs to consider the issue of return;

Then the operation mode on the market is basically to buy the long-term residence right of a local resort, which is not connected with the purchase immigration.

How did the 2. purchase immigration model come about?

The above editor also mentioned that the Philippines does not restrict foreigners from buying apartments. Regardless of whether foreigners have the status of permanent residence in the Philippines, they can legally buy apartments in the local area. This is the prerequisite for all publicity of the immigration model of house purchase. In particular, SRRV, the Retirement Department specifically stated that it can be converted into real estate in the later period, allowing the so-called house-buying immigrants to find a certain official basis.

Combining immigration and real estate, creating slogans such as buying a house and sending identity, and creating gimmicks in publicity; binding real estate in actual operation not only increases the popularity of publicity, but also increases the success rate of real estate transactions, killing two birds with one stone. At the same time, it can also take advantage of the information difference to earn the difference and the rebate of the real estate developer from the real estate transaction. Compared with the simple way of immigration, profits have soared, why not?

3. SRRV's way to buy a house?

Compared with the SRRV classic plan, after the approval to take out the deposit to buy a house, small editor is more recommended to buy a house directly, do not use SRRV deposit:

As a result, the procedures for purchasing a house by oneself are simpler, and the withdrawal of deposits also needs to be reported to the Retirement Department and the Immigration Bureau, which is a complicated operation process.

If you want to withdraw the deposit and purchase the auction house, you need to purchase the items filed by the Retirement Department and the Immigration Bureau; if you buy the existing house, you must apply for the real estate certificate and then apply for the withdrawal of the deposit. The waiting time is long. However, these procedures are not required for self-purchase, and the choice of real estate is wider.

Second, self-purchased properties are not bound to SRRV status and can be sold freely without affecting SRRV status.

If the model of taking out SRRV deposits is adopted, the property is bound to the SRRV identity, and once the house is sold, the SRRV identity is canceled. At present, it is not clear whether there will be a process that requires the intervention of the Immigration Bureau and the Retirement Department in the sale process. Once there is a process that needs to be involved, the price will also be reduced by the buyers in the process of changing hands.

Summary

There is no official immigration program in the Philippines, and the so-called immigration programs on the market are packaged by integrating real estate and other permanent residence/permanent residence visas. When it comes to real estate-related businesses, which often spend tens of millions of dollars, the profit is much larger than that of normal immigration. You must keep your eyes open and carefully identify.

The core protagonist of all house-buying immigrants-Philippine SRRV, the handling conditions are extremely simple, only need to be over 50 years old, healthy, and have no criminal record. There is always one suitable for you for living for the aged, traveling for vacation, children's education and other needs!