Foreigners are being attracted to invest in Philippines because of the some following reasons:
1.) Tropical Climate
2.) Resiliency and Hospitality(attitude of the people)
3.) Tourist Spots
4.) Economic Growth
5.) More productive workers and professionals
The question is, are they allowed to own a property?
-Generally,no because only Filipino citizens can own a land and house. Aliens may acquire real-estate property with the following conditions :
They had purchased a property under the 1935 Philippine Constitution.
Dual Citizenship as allowed in the 1987 Philippine Constitution. It means that you are natural-born here in the Philippines but raised in the other country, you can still own a land here as long as you had sworn allegiance to the country unless you renounce it.
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If Foreigners are married of a Filipino citizen.
They can only acquire 40 percent of the total number of condominium units.
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Foreigners are looking forward Philippines as their home of investments because the country offers different important things that would consider as assets of the country.
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