Re: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu
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A Alvarez
Aug 11, 2010, 2:30:42 PM8/11/10
to cebu...@googlegroups.com
Dear Declan and Martin,
I hope you will allow me the liberty of answering some of your questions. I am a litigation lawyer practicing in Cebu City (specializing in civil and corporate law, lands included). I am also Raymond's friend. I am therefore writing in both capacities, hoping that my answer will help Raymond in his business. :)
Foreigners cannot own land in the Philippines, but they can own houses and buildings. They can therefore own condominium units, provided the common areas of the condominium are owned by a condominium corporation where 60% of the shares are owned by Filipinos.
On Declan's statement that:
"If my wife is Filipina by 60% and place it in my spouses name (or family member), and I could set up a partnership with a family member and own up to 40% of the property myself"
This is not quite accurate. A foreigner cannot own land, and it means he cannot own any part of the land, not even if it is less than 40%. What is actually done is that the foreigner creates a corporation and registers it with our Securities and Exchange Commission. The foreigner will own 40% of the interests in the corporation. The 60% will be owned by his wife or another Filipino. The land can then be registered in the name of the corporation. Trust documents will have to be executed here in order to protect the foreigner, unless of course the foreigner does not feel the need.
But this is not the only option. If the foreigner does not wish to create a corporation, he can place the land in the name of his wife or girlfriend, or a Filipino he trusts, and then have the Filipino execute trust documents. I hold two properties in trust for two foreigners. Both are covered by trust documents. One of these foreigners was once married to a Filipina. After their divorce, he got the land and house back but did not have anyone else to name the property in. That is how he came to ask me to hold the land in his behalf in the meantime (until her remarries another Filipina or sells the property). The property is now being rented (rent is paid to him directly). He pays me a minimal amount for the service.
It is true, foreigners cannot inherit land ~ unless the foreigner is a former Filipino. Yes, you can apply for naturalization, but if I am not mistaken, you need to be a resident of the Philippines for at least 10 years before you can apply. I am not sure about the period tho, as naturalization laws are not my specialization. If you are interested, I can refer you to a good lawyer who can help you with naturalization.
Of course, if it is a condominium you are looking at acquiring, this discussion will not be of much relevance. At any rate, I hope to have helped in one way or another.
Best regards,
May
MAY S. AGUILAR
Unit 309 3/F Keppel Center
Samar Loop corner Cardinal Rosales Avenue
Cebu Business Park
6000 Cebu City, Philippines
Mobile No. 0917 3287082
Telefax No. 063 32 2311089
****************************************************************
This e-mail (including any file attachment) contains confidential information and/or may
also be legally privileged. It is intended solely for the use of the named addressees and any
unauthorized dissemination or use by or to any other person or entity is strictly prohibited. If
you are not the intended recipient of this email, you should not transmit, copy, print, disclose
or otherwise make use of and/or place any reliance on this e-mail and its contents. If you
have received this e-mail in error, you should immediately notify the sender by return e-mail
and delete all copies from your system.
Thank you very much.
****************************************************************
From: "martin...@cpksa.com" <martin...@cpksa.com>
To: cebu...@googlegroups.com
Cc: cebu...@googlegroups.com; May Aguilar <cebu_...@yahoo.com>
Sent: Wednesday, August 11, 2010 5:10:09 PM
Subject: Re: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu
Hi Declan
I too am English and building a house in Tacloban (60% finished) We bought the land and designed our own home......building cost with complete interiors (tiles cupboards etc) are 4.2m for 265sq mt house.
The easiest way for you is to take out Philippines citizenship and then you can own your own property. The Phillipines government has a reciprocal agreement with the UK government and your pension and other benefits are protected. I'm not sure if you would qualify for pension increases, but you can check on that. This is a far better way because if something were to happen to your wife you have a limited period in which to sell up the property as you cannot inherit land as a foreigner.
regards
Martin
Gents,
I am an Englishman registered with Cebuhomegroups.
I have looked at the Model houses in Mazari Cove, are there
any detached models under 4M pesos?
I have a filipino friend Alfred who works in the Government officein Naga, When I was there 2 years ago I told him I was looking to buy a property, but he didnot mention Mazari, is this a new project.
Regarding ownership of house and lot in Philippines, it would be appreciated by foreigners like me if it was made clearer that we could own the property outright, indeed this would prove to be a good selling point.
As I understand it and Raymond will obviously correct me if I'm wrong.
I as an Englishman (foreigner - although Balik Bayan), cannot own a house and lot, but I can own a Condo Unit.
I could however, If my wife is Filipina by 60% and place it in my spouses name (or family member), and I could set up a partnership with a family member and own up to 40% of the property myself.
Is this true or have I been drinking to much Red Horse LOL.
My dream is to retire in Cebu and carry out some charity work with orphaned kids or something,but while the pesos is 70 to the £ (it was 100 pesos 2 years ago) I will wait.
Maybe I can ask you information regarding settlement visa etc nearer the time.
Salamat,
Declan
From: Raymond Ong <8ray...@gmail.com>
To: cebu...@googlegroups.com
Sent: Tue, 10 August, 2010 13:35:35
Subject: Re: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu
Dear Atty. May
Thank you for your prompt reply and certainly will drop by your office whenever able. See you soon.
Best regards
Raymond Ong
Global Investment Director (Certified On Line)
Land Asia Global Properties Network,
Chief - Land Asia Institute Philippines,
Land Asia Realty & Development Corp.,
Real Estate License #2008-S-4-1122 (N)
HLURB Control # VII-00101-2008
Broker: Marissa S. Inting REB LIC#2007-1122(R)
Unit 4, G/F., Geson Bldg.
D. Jakosalem St., Cebu City 6000,
Cebu, Philippines
24/7 Hotline No.+6332-5158989
24/7 Mobile No.+63920-2666080
Tel. No.+6332-254049
Fax No.+6332-2546073
Talisay Info Center:
Tel./Fax No.+6332-5115882
Email: ray...@cebuhome.net
raymo...@landasia.com.ph
8ray...@gmail.com
raymo...@yahoo.com
raymon...@hotmail.com
Skype: raymond-8888
Website: http://www.cebuhome.net
Want to know more about me?
Please check here http://www.cebuhome.net/raymond_ong/raymond_ong.html
For your own protection, please always consult accredited real estate Salesperson or broker only for your real estate needs.
On 8/10/2010 8:28 PM, May Aguilar wrote:
Aha! That's what I get for not reading the flyer. LOL! Thanks for the clarification. Yes, I do look forward to seeing you again. If you have time, drop by the office. The address is written below.
Best personal regards, as always.
May
MAY S. AGUILAR
Unit 309 3/F Keppel Center
Samar Loop corner Cardinal Rosales Avenue
Cebu Business Park
6000 Cebu City, Philippines
Mobile No. 0917 3287082
Telefax No. 063 32 2311089
http://philippineslawyer.wetpaint.com/
****************************************************************
This e-mail (including any file attachment) contains confidential information and/or may
also be legally privileged. It is intended solely for the use of the named addressees and any
unauthorized dissemination or use by or to any other person or entity is strictly prohibited. If
you are not the intended recipient of this email, you should not transmit, copy, print, disclose
or otherwise make use of and/or place any reliance on this e-mail and its contents. If you
have received this e-mail in error, you should immediately notify the sender by return e-mail
and delete all copies from your system.
Thank you very much.
****************************************************************
From: Raymond Ong <8ray...@gmail.com>
To: cebu...@googlegroups.com
Sent: Tuesday, August 10, 2010 8:16:34 PM
Subject: Re: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu
Dear Atty. May
Thank you for your advice. It is true that foreigners cannot own lands in their names, however since the Tiyara Casita House model is under Condominium Certificate of Title (CCT), therefore, foreigners can own it.
I am looking forward to meet you again in the near future. Keep in touch.
Best regards
Raymond Ong
Global Investment Director (Certified On Line)
Land Asia Global Properties Network,
Chief - Land Asia Institute Philippines,
Land Asia Realty & Development Corp.,
Real Estate License #2008-S-4-1122 (N)
HLURB Control # VII-00101-2008
Broker: Marissa S. Inting REB LIC#2007-1122(R)
Unit 4, G/F., Geson Bldg.
D. Jakosalem St., Cebu City 6000,
Cebu, Philippines
24/7 Hotline No.+6332-5158989
24/7 Mobile No.+63920-2666080
Tel. No.+6332-254049
Fax No.+6332-2546073
Talisay Info Center:
Tel./Fax No.+6332-5115882
Email: ray...@cebuhome.net
raymo...@landasia.com.ph
8ray...@gmail.com
raymo...@yahoo.com
raymon...@hotmail.com
Skype: raymond-8888
Website: http://www.cebuhome.net
Want to know more about me?
Please check here http://www.cebuhome.net/raymond_ong/raymond_ong.html
For your own protection, please always consult accredited real estate Salesperson or broker only for your real estate needs.
On 8/10/2010 3:08 PM, May Aguilar wrote:
Hi Ray,
Kindly inform Mr. Bernardo that foreigners cannot own lands in their names (something which I am sure you already know). He will need a lawyer to explain to him different legal options available for him.
Regards.
May
MAY S. AGUILAR
Unit 309 3/F Keppel Center
Samar Loop corner Cardinal Rosales Avenue
Cebu Business Park
6000 Cebu City, Philippines
Mobile No. 0917 3287082
Telefax No. 063 32 2311089
http://philippineslawyer.wetpaint.com/
****************************************************************
This e-mail (including any file attachment) contains confidential information and/or may
also be legally privileged. It is intended solely for the use of the named addressees and any
unauthorized dissemination or use by or to any other person or entity is strictly prohibited. If
you are not the intended recipient of this email, you should not transmit, copy, print, disclose
or otherwise make use of and/or place any reliance on this e-mail and its contents. If you
have received this e-mail in error, you should immediately notify the sender by return e-mail
and delete all copies from your system.
Thank you very much.
****************************************************************
From: bernardo lameiras <berna...@hotmail.com>
To: cebu...@googlegroups.com
Sent: Monday, August 9, 2010 5:36:12 PM
Subject: RE: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu
"DEAR MANAGER
I AM A FOREIGNER, PLS TELL ME IF CAN BUY TIYARA CASITA HOUSE?( NAGA CITY) OR FIRST I HAVE TO APLLY FOR SPECIAL RESIDENT RETIREE'S AT PHILIPPINES RETIREMENT AUTHORITY. PLS TELL ME HOW MUCH IT WILL COST AND WHEN IS READY? OR SEND ME MORE INFORMATION ABOUT THE TIYARA CASITA.
BEST REGARDS
MR. BERNARDO from Macau.
> Date: Mon, 9 Aug 2010 10:02:13 +0800
> From: 8ray...@gmail.com
> To: cebu...@googlegroups.com
> Subject: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu
>
> Dear Member
>
> Please check this link http://www.cebuhome.net/mazaricove.pdf or visit
> my website at http://www.cebuhome.net/mazaricove/mazaricove.html for
> more information. It is a home by the sea in the resort. You will enjoy
> resort wellness living everyday. For more assistance, please do not
> hesitate to contact me.
>
> Take your time and thank you for your kind attention.
>
> Best regards
>
> Raymond Ong
> Global Investment Director (Certified On Line)
> Land Asia Global Properties Network,
> Chief - Land Asia Institute Philippines,
> Land Asia Realty& Development Corp.,
> Real Estate License #2008-S-4-1122 (N)
> HLURB Control # VII-00101-2008
> Broker: Marissa S. Inting REB LIC#2007-1122(R)
> Unit 4, G/F., Geson Bldg.
> D. Jakosalem St., Cebu City 6000,
> Cebu, Philippines
> 24/7 Hotline No.+6332-5158989
> 24/7 Mobile No.+63920-2666080
> Tel. No.+6332-254049
> Fax No.+6332-2546073
> Talisay Info Center:
> Tel./Fax No.+6332-5115882
> Email: ray...@cebuhome.net
> raymo...@landasia.com.ph
> 8ray...@gmail.com
> raymo...@yahoo.com
> raymon...@hotmail.com
> Skype: raymond-8888
> Website: http://www.cebuhome.net
>
> Want to know more about me?
> Please check here http://www.cebuhome.net/raymond_ong/raymond_ong.html
>
> For your own protection, please always consult accredited real estate Salesperson or broker only for your real estate needs.
>
>
> --
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> To post to this group, send email to cebu...@googlegroups.com.
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>
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I hope you will allow me the liberty of answering some of your questions. I am a litigation lawyer practicing in Cebu City (specializing in civil and corporate law, lands included). I am also Raymond's friend. I am therefore writing in both capacities, hoping that my answer will help Raymond in his business. :)
Foreigners cannot own land in the Philippines, but they can own houses and buildings. They can therefore own condominium units, provided the common areas of the condominium are owned by a condominium corporation where 60% of the shares are owned by Filipinos.
On Declan's statement that:
"If my wife is Filipina by 60% and place it in my spouses name (or family member), and I could set up a partnership with a family member and own up to 40% of the property myself"
This is not quite accurate. A foreigner cannot own land, and it means he cannot own any part of the land, not even if it is less than 40%. What is actually done is that the foreigner creates a corporation and registers it with our Securities and Exchange Commission. The foreigner will own 40% of the interests in the corporation. The 60% will be owned by his wife or another Filipino. The land can then be registered in the name of the corporation. Trust documents will have to be executed here in order to protect the foreigner, unless of course the foreigner does not feel the need.
But this is not the only option. If the foreigner does not wish to create a corporation, he can place the land in the name of his wife or girlfriend, or a Filipino he trusts, and then have the Filipino execute trust documents. I hold two properties in trust for two foreigners. Both are covered by trust documents. One of these foreigners was once married to a Filipina. After their divorce, he got the land and house back but did not have anyone else to name the property in. That is how he came to ask me to hold the land in his behalf in the meantime (until her remarries another Filipina or sells the property). The property is now being rented (rent is paid to him directly). He pays me a minimal amount for the service.
It is true, foreigners cannot inherit land ~ unless the foreigner is a former Filipino. Yes, you can apply for naturalization, but if I am not mistaken, you need to be a resident of the Philippines for at least 10 years before you can apply. I am not sure about the period tho, as naturalization laws are not my specialization. If you are interested, I can refer you to a good lawyer who can help you with naturalization.
Of course, if it is a condominium you are looking at acquiring, this discussion will not be of much relevance. At any rate, I hope to have helped in one way or another.
Best regards,
May
Unit 309 3/F Keppel Center
Samar Loop corner Cardinal Rosales Avenue
Cebu Business Park
6000 Cebu City, Philippines
Mobile No. 0917 3287082
Telefax No. 063 32 2311089
****************************************************************
This e-mail (including any file attachment) contains confidential information and/or may
also be legally privileged. It is intended solely for the use of the named addressees and any
unauthorized dissemination or use by or to any other person or entity is strictly prohibited. If
you are not the intended recipient of this email, you should not transmit, copy, print, disclose
or otherwise make use of and/or place any reliance on this e-mail and its contents. If you
have received this e-mail in error, you should immediately notify the sender by return e-mail
and delete all copies from your system.
Thank you very much.
****************************************************************
From: "martin...@cpksa.com" <martin...@cpksa.com>
To: cebu...@googlegroups.com
Cc: cebu...@googlegroups.com; May Aguilar <cebu_...@yahoo.com>
Sent: Wednesday, August 11, 2010 5:10:09 PM
Subject: Re: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu
Hi Declan
I too am English and building a house in Tacloban (60% finished) We bought the land and designed our own home......building cost with complete interiors (tiles cupboards etc) are 4.2m for 265sq mt house.
The easiest way for you is to take out Philippines citizenship and then you can own your own property. The Phillipines government has a reciprocal agreement with the UK government and your pension and other benefits are protected. I'm not sure if you would qualify for pension increases, but you can check on that. This is a far better way because if something were to happen to your wife you have a limited period in which to sell up the property as you cannot inherit land as a foreigner.
regards
Martin
| dsb 1958 <dsb_...@yahoo.co.uk>
Sent by: cebu...@googlegroups.com 08/11/2010 12:24 PM
|
|
Gents,
I am an Englishman registered with Cebuhomegroups.
I have looked at the Model houses in Mazari Cove, are there
any detached models under 4M pesos?
I have a filipino friend Alfred who works in the Government officein Naga, When I was there 2 years ago I told him I was looking to buy a property, but he didnot mention Mazari, is this a new project.
Regarding ownership of house and lot in Philippines, it would be appreciated by foreigners like me if it was made clearer that we could own the property outright, indeed this would prove to be a good selling point.
As I understand it and Raymond will obviously correct me if I'm wrong.
I as an Englishman (foreigner - although Balik Bayan), cannot own a house and lot, but I can own a Condo Unit.
I could however, If my wife is Filipina by 60% and place it in my spouses name (or family member), and I could set up a partnership with a family member and own up to 40% of the property myself.
Is this true or have I been drinking to much Red Horse LOL.
My dream is to retire in Cebu and carry out some charity work with orphaned kids or something,but while the pesos is 70 to the £ (it was 100 pesos 2 years ago) I will wait.
Maybe I can ask you information regarding settlement visa etc nearer the time.
Salamat,
Declan
From: Raymond Ong <8ray...@gmail.com>
To: cebu...@googlegroups.com
Sent: Tue, 10 August, 2010 13:35:35
Subject: Re: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu
Dear Atty. May
Thank you for your prompt reply and certainly will drop by your office whenever able. See you soon.
Best regards
Raymond Ong
Global Investment Director (Certified On Line)
Land Asia Global Properties Network,
Chief - Land Asia Institute Philippines,
Land Asia Realty & Development Corp.,
Real Estate License #2008-S-4-1122 (N)
HLURB Control # VII-00101-2008
Broker: Marissa S. Inting REB LIC#2007-1122(R)
Unit 4, G/F., Geson Bldg.
D. Jakosalem St., Cebu City 6000,
Cebu, Philippines
24/7 Hotline No.+6332-5158989
24/7 Mobile No.+63920-2666080
Tel. No.+6332-254049
Fax No.+6332-2546073
Talisay Info Center:
Tel./Fax No.+6332-5115882
Email: ray...@cebuhome.net
raymo...@landasia.com.ph
8ray...@gmail.com
raymo...@yahoo.com
raymon...@hotmail.com
Skype: raymond-8888
Website: http://www.cebuhome.net
Want to know more about me?
Please check here http://www.cebuhome.net/raymond_ong/raymond_ong.html
For your own protection, please always consult accredited real estate Salesperson or broker only for your real estate needs.
On 8/10/2010 8:28 PM, May Aguilar wrote:
Aha! That's what I get for not reading the flyer. LOL! Thanks for the clarification. Yes, I do look forward to seeing you again. If you have time, drop by the office. The address is written below.
Best personal regards, as always.
May
MAY S. AGUILAR
Unit 309 3/F Keppel Center
Samar Loop corner Cardinal Rosales Avenue
Cebu Business Park
6000 Cebu City, Philippines
Mobile No. 0917 3287082
Telefax No. 063 32 2311089
http://philippineslawyer.wetpaint.com/
****************************************************************
This e-mail (including any file attachment) contains confidential information and/or may
also be legally privileged. It is intended solely for the use of the named addressees and any
unauthorized dissemination or use by or to any other person or entity is strictly prohibited. If
you are not the intended recipient of this email, you should not transmit, copy, print, disclose
or otherwise make use of and/or place any reliance on this e-mail and its contents. If you
have received this e-mail in error, you should immediately notify the sender by return e-mail
and delete all copies from your system.
Thank you very much.
****************************************************************
From: Raymond Ong <8ray...@gmail.com>
To: cebu...@googlegroups.com
Sent: Tuesday, August 10, 2010 8:16:34 PM
Subject: Re: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu
Dear Atty. May
Thank you for your advice. It is true that foreigners cannot own lands in their names, however since the Tiyara Casita House model is under Condominium Certificate of Title (CCT), therefore, foreigners can own it.
I am looking forward to meet you again in the near future. Keep in touch.
Best regards
Raymond Ong
Global Investment Director (Certified On Line)
Land Asia Global Properties Network,
Chief - Land Asia Institute Philippines,
Land Asia Realty & Development Corp.,
Real Estate License #2008-S-4-1122 (N)
HLURB Control # VII-00101-2008
Broker: Marissa S. Inting REB LIC#2007-1122(R)
Unit 4, G/F., Geson Bldg.
D. Jakosalem St., Cebu City 6000,
Cebu, Philippines
24/7 Hotline No.+6332-5158989
24/7 Mobile No.+63920-2666080
Tel. No.+6332-254049
Fax No.+6332-2546073
Talisay Info Center:
Tel./Fax No.+6332-5115882
Email: ray...@cebuhome.net
raymo...@landasia.com.ph
8ray...@gmail.com
raymo...@yahoo.com
raymon...@hotmail.com
Skype: raymond-8888
Website: http://www.cebuhome.net
Want to know more about me?
Please check here http://www.cebuhome.net/raymond_ong/raymond_ong.html
For your own protection, please always consult accredited real estate Salesperson or broker only for your real estate needs.
On 8/10/2010 3:08 PM, May Aguilar wrote:
Hi Ray,
Kindly inform Mr. Bernardo that foreigners cannot own lands in their names (something which I am sure you already know). He will need a lawyer to explain to him different legal options available for him.
Regards.
May
MAY S. AGUILAR
Unit 309 3/F Keppel Center
Samar Loop corner Cardinal Rosales Avenue
Cebu Business Park
6000 Cebu City, Philippines
Mobile No. 0917 3287082
Telefax No. 063 32 2311089
http://philippineslawyer.wetpaint.com/
****************************************************************
This e-mail (including any file attachment) contains confidential information and/or may
also be legally privileged. It is intended solely for the use of the named addressees and any
unauthorized dissemination or use by or to any other person or entity is strictly prohibited. If
you are not the intended recipient of this email, you should not transmit, copy, print, disclose
or otherwise make use of and/or place any reliance on this e-mail and its contents. If you
have received this e-mail in error, you should immediately notify the sender by return e-mail
and delete all copies from your system.
Thank you very much.
****************************************************************
From: bernardo lameiras <berna...@hotmail.com>
To: cebu...@googlegroups.com
Sent: Monday, August 9, 2010 5:36:12 PM
Subject: RE: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu
"DEAR MANAGER
I AM A FOREIGNER, PLS TELL ME IF CAN BUY TIYARA CASITA HOUSE?( NAGA CITY) OR FIRST I HAVE TO APLLY FOR SPECIAL RESIDENT RETIREE'S AT PHILIPPINES RETIREMENT AUTHORITY. PLS TELL ME HOW MUCH IT WILL COST AND WHEN IS READY? OR SEND ME MORE INFORMATION ABOUT THE TIYARA CASITA.
BEST REGARDS
MR. BERNARDO from Macau.
> Date: Mon, 9 Aug 2010 10:02:13 +0800
> From: 8ray...@gmail.com
> To: cebu...@googlegroups.com
> Subject: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu
>
> Dear Member
>
> Please check this link http://www.cebuhome.net/mazaricove.pdf or visit
> my website at http://www.cebuhome.net/mazaricove/mazaricove.html for
> more information. It is a home by the sea in the resort. You will enjoy
> resort wellness living everyday. For more assistance, please do not
> hesitate to contact me.
>
> Take your time and thank you for your kind attention.
>
> Best regards
>
> Raymond Ong
> Global Investment Director (Certified On Line)
> Land Asia Global Properties Network,
> Chief - Land Asia Institute Philippines,
> Land Asia Realty& Development Corp.,
> Real Estate License #2008-S-4-1122 (N)
> HLURB Control # VII-00101-2008
> Broker: Marissa S. Inting REB LIC#2007-1122(R)
> Unit 4, G/F., Geson Bldg.
> D. Jakosalem St., Cebu City 6000,
> Cebu, Philippines
> 24/7 Hotline No.+6332-5158989
> 24/7 Mobile No.+63920-2666080
> Tel. No.+6332-254049
> Fax No.+6332-2546073
> Talisay Info Center:
> Tel./Fax No.+6332-5115882
> Email: ray...@cebuhome.net
> raymo...@landasia.com.ph
> 8ray...@gmail.com
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martin...@cpksa.com
Aug 12, 2010, 2:41:24 AM8/12/10
to cebu...@googlegroups.com, cebu...@googlegroups.com
Hi May and everyone else.
I wasn't referring to naturalisation, which as you say can take a long time. I was referring to actually applying for citizenship which, believe it or not, can be a very quick process. You retain your own citizenship and all the benefits thereof and gain Philippines citizenship and all the rights that go along with it. You can travel on either passport with dual nationality and have the benefit of being able to own land, property etc in the Philippines. Your local Philippines Embassy actually has a fast track programme you can use to obtain citizenship.
This negates trusts, corporations and any other documents you can use to hold on to your property in the Phils.
It also means you don't need to go on a visa run once a year to continue residing in the Phils.
If your going to own property and live there it makes sense to be a citizen.
There is also the SRRV (special resident retiree visa) which you can look at, but this requires you to deposit monies into a fixed deposit scheme to ensure you have sufficient funds to reside in the Phils. This only gives you right of abode and doesn't allow land ownership. The website to check is www.pra.gov.ph and this will clarify a lot for you.
Regards
Mart
| "A Alvarez" <dice...@excite.com>
Sent by: cebu...@googlegroups.com 08/11/2010 09:30 PM
|
|
|
Greetings May,
I am part of the string of the email string and do have a question regarding condominium purchases. I am married to a Filipina and am a US citizen myself. I have purchased a condo with my wife. First off, Are you talking about 60% builder ownership or personal condo unit owners required to be Filipino when you speak 60% ownership? If the latter.... then the condo units are definitely not owned by 60% of Filipino's. I believe foreigners own at least that much. My question with all that said and if 60% have to be individual unit owned, how can i protect my investment if my marriage fails? Will I have to create a "Corporation" or "Trust" as an option?
-----Original Message-----
From: "May Aguilar" [cebu_...@yahoo.com]
Date: 08/11/2010 07:00 AM
To: martin...@cpksa.com, dsb_...@yahoo.co.uk
CC: cebu...@googlegroups.com
Subject: Re: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga
City, Cebu
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----- Message from May Aguilar <cebu_...@yahoo.com> on Wed, 11 Aug 2010 18:57:42 +0800 (SGT) -----
|
To:
| |
|
cc:
|
May Aguilar
Aug 12, 2010, 7:13:38 PM8/12/10
to cebu...@googlegroups.com
Dear Martin, I got the reply from my fellow lawyer. He said that you are probably referring to the Alien Social Intergration Act of 2005, which allows admiistrative acquisition of Philippine citizenship. However, to qualify, the alien must have entered the Philippines before 1995. He said there are also other qualifications under this law. Regards. May
Unit 309 3/F Keppel Center
Samar Loop corner Cardinal Rosales Avenue
Cebu Business Park
6000 Cebu City, Philippines
Mobile No. 0917 3287082
Telefax No. 063 32 2311089
****************************************************************
This e-mail (including any file attachment) contains confidential information and/or may
also be legally privileged. It is intended solely for the use of the named addressees and any
unauthorized dissemination or use by or to any other person or entity is strictly prohibited. If
you are not the intended recipient of this email, you should not transmit, copy, print, disclose
or otherwise make use of and/or place any reliance on this e-mail and its contents. If you
have received this e-mail in error, you should immediately notify the sender by return e-mail
and delete all copies from your system.
Thank you very much.
****************************************************************
Sent: Thursday, August 12, 2010 2:41:24 PM
--
May Aguilar
Aug 12, 2010, 11:24:21 AM8/12/10
to cebu...@googlegroups.com
Dear Mr. Alvarez,
I was talking about the entire condominium building. Simply said, it means that at least 60% of the condo owners within your building must be Filipinos. These 60% will be the 60% shareholders of your condominium corporation. This way, your condominium corporation meets the requirement of ownership of the common areas of your condominium building. Your individual condo unit can be owned entirely by a foreigner, like you.
Your condo unit can be, and should be, in your name. If it is not, then you need to have your wife execute a trust document in your favor.
I hope that I have addressed your query.
I was talking about the entire condominium building. Simply said, it means that at least 60% of the condo owners within your building must be Filipinos. These 60% will be the 60% shareholders of your condominium corporation. This way, your condominium corporation meets the requirement of ownership of the common areas of your condominium building. Your individual condo unit can be owned entirely by a foreigner, like you.
Your condo unit can be, and should be, in your name. If it is not, then you need to have your wife execute a trust document in your favor.
I hope that I have addressed your query.
Regards.
May
Unit 309 3/F Keppel Center
Samar Loop corner Cardinal Rosales Avenue
Cebu Business Park
6000 Cebu City, Philippines
Mobile No. 0917 3287082
Telefax No. 063 32 2311089
****************************************************************
This e-mail (including any file attachment) contains confidential information and/or may
also be legally privileged. It is intended solely for the use of the named addressees and any
unauthorized dissemination or use by or to any other person or entity is strictly prohibited. If
you are not the intended recipient of this email, you should not transmit, copy, print, disclose
or otherwise make use of and/or place any reliance on this e-mail and its contents. If you
have received this e-mail in error, you should immediately notify the sender by return e-mail
and delete all copies from your system.
Thank you very much.
****************************************************************
From: A Alvarez <dice...@excite.com>
To: cebu...@googlegroups.com
Sent: Thursday, August 12, 2010 2:30:42 AM
Subject: Re: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga City, Cebu
Greetings May,
I am part of the string of the email string and do have a question regarding condominium purchases. I am married to a Filipina and am a US citizen myself. I have purchased a condo with my wife. First off, Are you talking about 60% builder ownership or personal condo unit owners required to be Filipino when you speak 60% ownership? If the latter.... then the condo units are definitely not owned by 60% of Filipino's. I believe foreigners own at least that much. My question with all that said and if 60% have to be individual unit owned, how can i protect my investment if my marriage fails? Will I have to create a "Corporation" or "Trust" as an option?
-----Original Message-----
From: "May Aguilar" [cebu_...@yahoo.com]
Date: 08/11/2010 07:00 AM
To: martin...@cpksa.com, dsb_...@yahoo.co.uk
CC: cebu...@googlegroups.com
Subject: Re: [cebuhome] Your Home by the sea in the Resort - Mazari Cove, Naga
City, Cebu
City, Cebu
Note: Original message sent as attachment
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May Aguilar
Aug 12, 2010, 11:19:10 AM8/12/10
to cebu...@googlegroups.com
Hi Matt, Dual citizenship applies only to former Filipinos who wish to reacquire their Philippine citizenship. Nevertheless, for my own curiousity, I will refer the matter to a fellow lawyer who specializes on these matters. I don't, so I cannot comment with certainty. I can only opine from the general point of view of Constitutional Law, which I believe applies. I doubt that our laws grants citizenship with less requirements than "naturalizations", unless one is a former Filipino. Also, what i know is that when an alien applies for citizenship, the process is called naturalization. Regards. May
Unit 309 3/F Keppel Center
Samar Loop corner Cardinal Rosales Avenue
Cebu Business Park
6000 Cebu City, Philippines
Mobile No. 0917 3287082
Telefax No. 063 32 2311089
****************************************************************
This e-mail (including any file attachment) contains confidential information and/or may
also be legally privileged. It is intended solely for the use of the named addressees and any
unauthorized dissemination or use by or to any other person or entity is strictly prohibited. If
you are not the intended recipient of this email, you should not transmit, copy, print, disclose
or otherwise make use of and/or place any reliance on this e-mail and its contents. If you
have received this e-mail in error, you should immediately notify the sender by return e-mail
and delete all copies from your system.
Thank you very much.
****************************************************************
Sent: Thursday, August 12, 2010 2:41:24 PM
--
dsb 1958
Aug 12, 2010, 9:52:33 AM8/12/10
to cebu...@googlegroups.com
Mart,
Thanks a lot for this,
I have heard about the srrv
http://www.philippine-portal.com/visas/special-retiree-resident-visa-ssrv.html
To be honest, my dream would be to rent a place for a year and have a look round what to buy, or even just rent places for a year and move around.
However my wife would prefer to be close to her family in Cebu.
We will be going there next August for a visit so I may look around and see whats on offer.
So your building a place in Leyte, are you planning to retire there ?
We have 2 teenage kids so we cant really do anything till they start careers for themselves, but I do love the Philippines, more than my wife, I expect.
Cheers
Declan
Thanks a lot for this,
I have heard about the srrv
http://www.philippine-portal.com/visas/special-retiree-resident-visa-ssrv.html
To be honest, my dream would be to rent a place for a year and have a look round what to buy, or even just rent places for a year and move around.
However my wife would prefer to be close to her family in Cebu.
We will be going there next August for a visit so I may look around and see whats on offer.
So your building a place in Leyte, are you planning to retire there ?
We have 2 teenage kids so we cant really do anything till they start careers for themselves, but I do love the Philippines, more than my wife, I expect.
Cheers
Declan
Sent: Thu, 12 August, 2010 7:41:24
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