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Foreigners Restrictions in Leasing a Land in the Philippines

Foreigners cannot buy or own a land in the Philippines but they can lease the land. They can get into long-term leases if they want. But what are the restrictions to the foreigners leasing a land in the Philippines?

The Philippine law has a Lease Investment Act. Foreigners can lease the land for a period of 50 years provided that those land or property will be used for investment purposes. And this is subject to extension by mutual agreement of the parties for another 5 years. The lease contract is renewable every 25 years.

The foreigner can rent a lot in the Philippines and at the same time legally own the house on the rented land.
"Foreigners Restrictions in Leasing a Land in the Philippines" was written by under the Real Estate category. It has been read 809 times and generated 0 comments. The article was created on 03 October 2016 .
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