I'm an Emirati but I would like to invest in a Philippine condo. Is it possible?

June 23, 2024 - Reading time: 3 minutes

As an Emirati citizen looking to invest in Philippine real estate, you'll be pleased to know that it is indeed possible to purchase a condominium in the Philippines. However, there are some important considerations and restrictions to keep in mind:

1. Foreign ownership restrictions: The Philippine Constitution limits foreign ownership of land. However, foreigners can own condominium units, provided that foreign ownership in the condominium complex does not exceed 40% of the total units.
2. Ownership structure: You can purchase a condo unit directly in your name or through a corporation registered in the Philippines (with foreign equity not exceeding 40%).
3. Property types: As a foreigner, you're limited to buying condominium units. You cannot purchase houses, lots, or other types of real estate.
4. Location considerations: Some areas may have additional restrictions on foreign ownership, so it's crucial to research the specific location you're interested in.
5. Legal assistance: It's highly recommended to work with a reputable local real estate agent and lawyer to navigate the legal requirements and ensure a smooth transaction.
6. Financial considerations: Look into currency exchange rates, tax implications, and potential restrictions on moving funds between the UAE and the Philippines.
7. Purpose of investment: Consider whether you're buying for personal use, as a vacation home, or purely as an investment property, as this may affect your decision-making process.
8. Market research: Familiarize yourself with the Philippine real estate market, focusing on areas with high potential for appreciation and rental income.
9. Property management: If you're not planning to live in the Philippines, consider hiring a property management company to handle maintenance and potential rentals.
10. Exit strategy: Think about how you might eventually sell the property, keeping in mind potential changes in market conditions and regulations.

Investing in a Philippine condo as an Emirati is certainly possible and can be a rewarding experience. However, it requires careful planning, research, and professional guidance to ensure compliance with local laws and regulations. With the right approach, you can successfully diversify your investment portfolio into the Philippine real estate market.

At 123estatesPh.com, we will help you every step of the way. As an official Ayala Land Marketing Partner, you are in very good hands. Schedule your zoom meeting now!