thanks, just to confirm... the residential property (house & lot) obtained before giving up my Filipino citizenship shall no longer be legally owned by me once i take on another citizenship?
can u please elaborate on the BP 185 for residential use clause? does it mean that a residential house & lot can still be legally owned by me despite giving up Filipino citizenship?
Owning Land in the Philippines
Former natural-born Filipinos can own property in the Philippines, subject to limitations prescribed by Philippine Republic Act 8179 (residential property up to 1000 square meters of urban land or one hectare of rural land) and Batas Pambansa 185 (business property 5000 square meters of urban land or three hectares of rural land).
Philippines real estate law does not allow outright ownership of real property by foreign nationals. Filipinos and former Filipino citizens and Philippine majority owned corporations are permitted to own land, buildings, condominiums and townhouses.
Foreign nationals may buy condominiums units in Philippine condos (shares in condominium corporations) as long as not more than 40% of the units in a project are acquired by foreigners (Republic Act 4726, otherwise known as the Condominium Act).
Check this as referral for when you become foreigner in the Philippines after losing the citizenship.
would there be any documents I need to prepare before I change my citizenship? SSS/Pagibig/ PhilHealth all the contributions can be withdrawn before the actual change of citizenship ( give up Philippine citizenship) Thanks
This last bit we need someone to tell you because I haven't encounter this fact, so I am not certain how to guide you.
May I ask what nationality you're going to obtain? if you don't mind! I am just curious why they are not allowing you to obtain dual citizenship.