Can foreigners own properties in Town & Country?
Existing Philippine laws provide ownership of real estate in the country for Filipino citizens only, Active Construction, Inc. does accommodate long-term property lease for those who are qualified. The said leasehold right is also transferable to bonafide heirs or to a designated beneficiary of the lessee for the duration of the unexpired term of the lease. This 25-year lease is applicable to lots and house & lot purchases and is renewable and extendable by another 25 years. However should a pending proposed law allowing foreigners to own properties in the Philippines, eventually passed, full ownership of the particular property may now be assumed by the lessee concerned, upon accomplishment of documentary requirements including payment of certain fees.
