Other Areas

[Stroker Ace88]

Excellent advice, thanks for that. I was thinking about the corporate route already. Thanks for the suggestion.

No, not good advice IMO.

From what I understand GG, there are 3 main options: First, put yourself at the mercy of a Philippine partner (GF, Buddy, Bank Manager, Lawyer, etc) and pray you don't get screwed. MANY DO! Second, arrange a very long term lease, eg. 99years. Third, invest in your own Philippine corporation and have the corporation retain the ownership. Maybe other members will suggest other possibilities. However, the main sticking point remains the Rule of Law in PI. Really, it doesn't exist. Remember that the whole point of maintaining the fuedal system is to benefit the aristocracy and their vassals and screw the rest. When they screwed a major German firm over the Manila Airport fiasco, to the serious detriment of investments from the entire Western World, the message was clear. You are always at the whim of forces that you can't control.

Option 1, finding a suitable partner in the Philippines in which to put land-property ownership.

I would only undergo option one if the foreigner was married to a filipina and the marriage is based on long-term love not on convenience. Forget the GF, buddy, business partner, bank manager or lawyer route as relationships in the Philippines that often seem rock solid have a way of going bad once money is involved.

Dangle a property worth several million pesos (or more) infront of a local and tell them you will draw up a non-legally binding contract and oh by the way I will just use your name on the title deed and see how long things stay solid. Just long enough for you to build a very nice house or business only to find out the person who legally owns the land-property because his name is on the title deed Has decided you no longer matter. Then has the PNP and court system remove you from said property and warns you if you return prison awaits. Ya, real good option.

Option 2, making a lease agreement with the land-property owner.

While this can be a viable option for land-property use, and some have been successful at doing this, they are the exception to the rule and many many foreigners have learned the hard way this option is not a good one.

First you have to understand that whoever claims to be the rightful owner of the land may in fact not be the real owner even if that person is paying the land taxes on the property. Record keeping in the Philippines dealing with land ownership and title deeds is a mess and often discovering who exactly owns the property is almost impossible in some situations.

That being said, the lease agreement can succeed in some instances. The lease can be up to 25 years (never 99 years) , extendable for another 25 years if BOTH PARTIES ARE AGREEABLE. In order for the lease to be binding on third parties (Heirs, buyers, etc) the lease must be annotated on the title at registrar of deeds. The lease can be drawn up in any manner agreeable to both parties. It can be made transferable, assignable, subleasable, etc, as long as it is done properly, and annotated on the title at the registrar of deeds.

The problems often occur if the person you make the lease agreement with is NOT the sole owner or sole heir to the property. Making a lease agreement with only one heir means the other siblings and-or family members can make a claim on the property at any time and that means the original lease agreement is NUL and VOID. If the owner of the property suddenly dies that means the lease agreement is in theory broken and you could find yourself on the wrong side of the gate with all your things looking in.

The law implemented in 1974 by then President Marcos is PD 471 and still applies today for issues dealing with foreigners leasing land-property.

Pitfalls are many dealing with lease agreements and using a good lawyer is paramount to success but nothing is 100 percent.

Option 3, invest in your own Philippine corporation and have the corp retain the ownership.

Again, see option one for advice on this subject. I would only undergo this option if you have met and married a filipina for love and have a long-term commitment with her. Although creating a corp to hold land-property ownership means the filipina in theory automatically has to possess 60% of said shares in the corporation. A foreigner creating a corporation must show the division of ownership in the corporation when registering the corporation. A Filipino (a) must hold atleast a 60% ownership role in the corporation for the corp to get official status. That takes you back to square one, and option one.

In the Philippines it is illegal to create a shell corporation for the purpose of land-property ownership and you open yourself up to forfeiture of the land-property if ever there is a dispute about ownership, bringing you back to option one.

If you open a legitimate business that creates 50 local jobs and you invest minimum 200k USD or if creating "advanced technologies" (IE call center jobs) the minimum investment drops to 100k USD, you get some increased foreigner ownership rights dealing with land-property. There are some additional restrictions to outright foreigner ownership that requires legal advice.

The foreign investment act of the Philippines RA 7042 and amended by act 8179 in 1996 deals with this topic.

[Gaijin Gigolo]

From what I understand GG, there are 3 main options: First, put yourself at the mercy of a Philippine partner (GF, Buddy, Bank Manager, Lawyer, etc) and pray you don't get screwed. MANY DO! Second, arrange a very long term lease, eg. 99years. Third, invest in your own Philippine corporation and have the corporation retain the ownership. Maybe other members will suggest other possibilities. However, the main sticking point remains the Rule of Law in PI. Really, it doesn't exist. Remember that the whole point of maintaining the fuedal system is to benefit the aristocracy and their vassals and screw the rest. When they screwed a major German firm over the Manila Airport fiasco, to the serious detriment of investments from the entire Western World, the message was clear. You are always at the whim of forces that you can't control.

Excellent advice, thanks for that. I was thinking about the corporate route already. Thanks for the suggestion.

[World Guy Sh]

Definitely / somewhat correct.

I just came back from drinking in Sabang. I didn't barfine as I planned.

I was going to bafine this girl at Venus (I barfined her 2 days ago). I got to that street at 7 PM. But I decided to have a drink at some other bar to see how the quality was. I had a beer and went to Venus at 7:20.

I saw about 5 Koreans take out about 10 girls (the cute ones of course). My girl was already barfined. Oh well; you snooze, you lose. I don't hate them for that. I just have to be smarter next time. The girlie bars open at 7 PM; I just have to get there at 6:59 PM.

Alternatively just get her number and shoot her a few texts before work and in the first hour she starts. Confirm a time you will drop by. She'll (usually) wait, especially if she liked you in any way.

Sad to see an increase in BF. 2000 was a good deal (1k to the bar. 1k to the girl).3, 000, well it ain't bad I guess but still a sharp old hike.

Koreans do appear to be taking over. Pity as they are doing to their rep what the Brits did to theirs in Ibizia / Majorca etc in the 80's and 90's. Still, the upside is they are home by 8pm even if perhaps some of the nicer girls are gone.

And someone asked why the girls prefer Koreas:I was told because of the 3 threes: the pay 3k, have 3 inches and last 3 mins. Compared to me the ugly white guy it is pretty appealing!

WGS

[Questor55]

Excellent point, and I'm still working that out. I do have a number of trustworthy, professional male Filipino friends whom I could trust to go into business with. That's one option. Still working on some other ways to get it done. I have an American friend who's bought himself a bar there, so I know it's possible.

From what I understand GG, there are 3 main options: First, put yourself at the mercy of a Philippine partner (GF, Buddy, Bank Manager, Lawyer, etc) and pray you don't get screwed. MANY DO! Second, arrange a very long term lease, eg. 99years. Third, invest in your own Philippine corporation and have the corporation retain the ownership. Maybe other members will suggest other possibilities. However, the main sticking point remains the Rule of Law in PI. Really, it doesn't exist. Remember that the whole point of maintaining the fuedal system is to benefit the aristocracy and their vassals and screw the rest. When they screwed a major German firm over the Manila Airport fiasco, to the serious detriment of investments from the entire Western World, the message was clear. You are always at the whim of forces that you can't control.

[Gaijin Gigolo]

McDon, Red Kilt, Mattrick, thanks much for the input, much appreciated. Will have to give it much further thought than I initially had. Think I'll fly in for another visit in a month or so.

[Gaijin Gigolo]

El Nido is indeed a location with tremendous upside potential GG. However, given the restrictions on foreign ownership, how do you propose to invest in property there?

Excellent point, and I'm still working that out. I do have a number of trustworthy, professional male Filipino friends whom I could trust to go into business with. That's one option. Still working on some other ways to get it done. I have an American friend who's bought himself a bar there, so I know it's possible.

[Mc Don]

Thinking about buying investment property there. Has anybody been there recently who can tell me about the availability of girls there? It's alleged to be the most beautiful spot in the Philippines but doesn't seem to have anything at all (that I'm able to find) to offer in terms of nightlife / mongering. Thanks in advance. GG

LOL, stick to Manila, AC, Cebu or Davao.

El Nido as has no nightlife and last time I was there there were still electricity restrictions in the morning. Yes its great place to build a resort if you are prepared to put lots of cash in it but for condo or something smaller I think you are wasting your time. First I doubt you will find anything suitable (remember as foreigner you may not purchase land) second even if you do it will take 10-15 years for you to see any real returns as most foreigners that do visit prefer the resorts and use the town as a transit point at best.

Like RK said El Nido isn't the easiest or cheapest place to get to either.

Look into the major cities for investment.

[Red Kilt]

Thinking about buying investment property there. Has anybody been there recently who can tell me about the availability of girls there? It's alleged to be the most beautiful spot in the Philippines but doesn't seem to have anything at all (that I'm able to find) to offer in terms of nightlife / mongering. Thanks in advance. GG

GG.

I cannot help thinking, as a 15-year resident of the Phils, that the returns on ANY investment here (even near El Nido in Palawan) , will be very low and even a high risk no matter where you invest.

I bought a condo in Manila to live in without reference to investment. It is very well situated, close to 4 large malls, an attractive 3 BR property that I have also upgraded to make it more comfortable for me. On today's prices I can expect a sale price virtually the same as the price I paid 7 years ago (if I wanted or needed to sell), but of course I have saved around 7M or 80,000 php per month in rent over 7 years. I just use this example as an indicator that prices do not appear to be moving up very rapidly if at all.

I have stayed in El Nido and it is spectacularly beautiful but, as Cheapy said, it has no nightlife, since my perception is that people who go there want seclusion, quiet, a beautiful environment in which to relax.

I would wonder how you could have building and / or maintenance done on any property there without having a lot of capital to fly materials in or rent-a boat or hire competent builders or whatever. I don't know what time frame you are considering for investment but my guess is that you will need a very long time to realise a return (I am thinking 10 to 15 years).

JMHO

[Buko Max]

Thinking about buying investment property there. Has anybody been there recently who can tell me about the availability of girls there? It's alleged to be the most beautiful spot in the Philippines but doesn't seem to have anything at all (that I'm able to find) to offer in terms of nightlife / mongering. Thanks in advance. GG

Again, probably not a good idea. Infrastructure leaves little to be desired. Like many great spots in Philippines, it's not easy to get to. Officials have been talking about expanding the runway in El Nido for years! When it comes time to cash in your property, you might only get half the offer you thought, if any.

[Questor55]

I visited there but didn't spend any great length of time there, which is why I was asking for input. Of course I'd spend more time there before investing in property. I'm not short of common sense, I can assure you that. But I'm becoming very short of patience with guys on this board who like to challenge everything anybody brings up.

El Nido is indeed a location with tremendous upside potential GG. However, given the restrictions on foreign ownership, how do you propose to invest in property there?

[Gaijin Gigolo]

If you have stayed at El Nido, why haven't you posted some info on it? This thread can use some updated info on Palawan.

I have never stayed at El Nido and therefore I am not the guy to go to on that subject. Yes you are right, very easy to buy property in two different places. My question was a simple and straight forward one not a flame of any kind. Just wondering out loud that it's common sense to visit the place if you are seriously thinking of buying property there.

Let us know how your search goes.

I visited there but didn't spend any great length of time there, which is why I was asking for input. Of course I'd spend more time there before investing in property. I'm not short of common sense, I can assure you that. But I'm becoming very short of patience with guys on this board who like to challenge everything anybody brings up.

[Stroker Ace88]

Is it not possible to buy property in two different places? I believe it is. And yes, I have. I was hoping for some insightful input from a least one or two visitors to this forum who are more familiar with the place than I, but I guess that was too much to expect, although I presume you know everything about the place, hmmm?

If you have stayed at El Nido, why haven't you posted some info on it? This thread can use some updated info on Palawan.

I have never stayed at El Nido and therefore I am not the guy to go to on that subject. Yes you are right, very easy to buy property in two different places. My question was a simple and straight forward one not a flame of any kind. Just wondering out loud that it's common sense to visit the place if you are seriously thinking of buying property there.

Let us know how your search goes.

[Gaijin Gigolo]

You're joking right? What happened to your plans to buy "investment property" as you call it in Cebu? Have you ever visited Palawan or for that matter El Nido?

Is it not possible to buy property in two different places? I believe it is. And yes, I have. I was hoping for some insightful input from a least one or two visitors to this forum who are more familiar with the place than I, but I guess that was too much to expect, although I presume you know everything about the place, hmmm?

[Gaijin Gigolo]

Mongering: LOL. Nada, nothing, zip, zero.

Investment: Only if are connected or know quite a bit about tourism and you are willing.

To live there. It is going to "blow up" for sure. But I do not think any old monger.

On this website is going to be a part of the expansion and growth!

Just my 35 year tourism professional opinion.

I definitely think it's going to 'blow up' as you put it, which is why I'm looking to invest there before it does. I do know quite a bit about tourism, actually, and I'm willing. Where the tourism dollars come, the girls will follow, I would expect. I have a friend who owns a bar there already and it's starting to do very well for him, despite the fact that he lives out of country and is entirely dependant on locals he's hired to run the place for him. Was hoping others might be able to share some specifics regarding property ownership there.

Thanks for the input.

[Cheapy]

Mongering: LOL. Nada, nothing, zip, zero.

Investment: Only if are connected or know quite a bit about tourism and you are willing.

To live there. It is going to "blow up" for sure. But I do not think any old monger.

On this website is going to be a part of the expansion and growth!

Just my 35 year tourism professional opinion.

Thinking about buying investment property there. Has anybody been there recently who can tell me about the availability of girls there? It's alleged to be the most beautiful spot in the Philippines but doesn't seem to have anything at all (that I'm able to find) to offer in terms of nightlife / mongering. Thanks in advance. GG