The Philippines, being a tropical country, is one of the most revered countries for expatriates who would like to have a piece of paradise as their second home. A small island in the southern part of this region is Cebu, it is quite popularly known as the “Queen City of the South.” This is because it is the capital of trade and industry in this part of the country. It is the second most popular city in the Philippines, next to Manila, the capital of the country. Its buzzing city life and pristine, white sand beaches, sumptuous local delicacies, inspiring historical landmarks and genuine hospitality all have made this island quite popular among investors. As a matter of fact, several condominiums, luxury hotels, low-cost housing, IT hubs, and other major infrastructures are being developed as this article is being written. All of which are just some of the reasons why more and more foreigners come to this place to reside permanently. The best way for an interested investor to find the perfect property in Cebu is to look for it online.
Although there may be limitations in property ownership among foreigners, there are several ways to get around it, legally. One would be for a foreigner to marry a Philippine citizen. This method is easy, but can cause problems should the couple end up filing for annulment (since divorce is not allowed in the country). Another way to have full control of properties in the Philippines is to form a corporation with Filipinos as the other shareholders of the company. The foreigner will then need to convince them to stand up as the other investors for the corporation. Another option that is less cumbersome for an investor is to come to the Philippines as an officially sanctioned immigrant like a retired individual or investor. He will then need to place a substantial amount of money in a time deposit in another currency in the country.
