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1. CAN A FOREIGNER
OWN A LAND?
2. CAN A FOREIGNER
BUY AND OWN A BUILDING?
3. CAN A BANK FINANCE
TO PURCHASE PROPERTIES?
4. AS BUYER, DO I
HAVE TO PAY AGENT SERVICE FEE?
5. IS BORACAY A GOOD
INVESTMENT PLACE?
CAN A FOREIGNER
OWN A LAND?
Under Philippine Law, foreigner cannot
own land. It is only possible by setting up a Filipino corporation
which can buy or hold properties. To form a corporation, foreigner
will need a Filipino partners holding 60% ownership of the
company while the foreigner is entitled only to hold 40% ownership
of the company.
CAN A FOREIGNER
BUY AND OWN A BUILDING?
Yes. Foreigner can buy and own a building
and can lease a property up to 25 years with the option of
another 25 years, total of 50 years.
CAN A BANK FINANCE
TO PURCHASE PROPERTIES?
Unfortunately, the bank cannot finance
to purchase properties since Boracay land is 98% untitled.
It is only covered by a Tax Declaration and the banks generally
do not accept tax declaration for applying mortgage but still
there are non-bank financial institutions that permits mortgage
by accepting tax declaration only.
AS BUYER, DO I HAVE
TO PAY AGENT SERVICE FEE?
As buyer, you don’t have to pay agent
service fee or commission. We will bring you to places we
can offer and our service is free, you only have to pay the
transportation expense.
IS BORACAY A GOOD
INVESTMENT PLACE?
Boracay is one of the most beautiful beaches
in the world, blessed with all the elements of tropical paradise-crystal
blue waters, powder white sand, liberal doses of palms and
flowering plants, and a healthy marine life underneath the
seas. Many foreign and local tourists have come back year
after year and some have even chosen to live in this paradise
island and done some business. Boracay is nearly fully developed,
that’s why land appraisal goes higher and higher. Investors
have a guaranteed return of investment. Some business are
engage in resort/hotel accommodations, dive shops, bars and
restaurants, golf courses, spa’s, gyms and a lot more.
At any point of the island, visitors can hear English, German
and French spoken fluently. More importantly, visitors respect
the serene quality of the place, and pay tribute to native
Boracaynons by behaving according to local behavioural which
means no nudity, no fighting, and no loud commotions-safe
and convenient. What are you waiting for? Invest now.
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