Can foreigners buy land in the Philippines? What is the process of buying and selling land?

Can foreigners buy land in the Philippines? What is the process of buying and selling land?

A: Foreigners cannot buy land in the Philippines. Although land in the Philippines is privately owned, foreigners are prohibited from owning land in the Philippines. Foreigners can only buy high-rise residential buildings, not villas. However, Filipinos with dual nationality can own 100% of the land property rights, but they must immigrate to other countries and obtain other country status after being born in the Philippines.

The sale of land generally goes through the following procedures:

(1) A contract signed and notarized by the buyer and seller through a lawyer;

(2) Submit the land tax declaration issued by the Internal Revenue Bureau to the Urban Assets Appraisal Office;

(3) The buyer pays the real estate tax to the Municipal Finance Bureau;

(4) The municipal asset appraiser evaluates the assets;

(5) The buyer pays transaction tax to the municipal asset appraisal office;

(6) Pay asset income tax and stamp duty to the Internal Revenue Service;

(7) Registration of trading assets: change the name of the owner of the title;

(8) The owner of the new title obtains a photocopy of the new title certificate and obtains a tax return from the Asset Appraisal Office.