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The Condominimum Act

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1 The Condominimum Act on Tue Aug 12, 2014 2:50 pm

Ashley Carroll


Arresto Menor
As a foreigner acquiring property in the Philippines, am I covered under the Condominium Act of the Philippines?

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2 Re: The Condominimum Act on Fri Aug 15, 2014 4:57 pm

hustisya


Prision Correccional
Under Sec.5 of Condominium Act: "no condominium unit therein shall be conveyed or transferred to persons other than Filipino citizens, or corporations at least sixty percent of the capital stock of which belong to Filipino citizens, except in cases of hereditary succession."

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3 Re: The Condominimum Act on Fri Aug 22, 2014 7:32 pm

taxconsultantdavao


Reclusion Perpetua


you can buy a condominium unit under your name, even if you are not a Filipino, as long as the condominium corporation (the corporation that was constituted for the condominium building) has Filipino customers that comprises 60% out of the total unit owners. the remaining 40% of the total units may be owned by the foreigners in their own right. you have to check if the foreigners owning a unit in the said building has not exceeded the 40% maximum limit.

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4 Re: The Condominimum Act Today at 10:17 am

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