Who Can Own a Land or Real Estate Property in the Philippines?

The general rule is that Filipino citizens and Corporations or Partnership at least 60% Philippine owned are entitled to acquire land in the Philippines.

 AN EXCEPTION TO THIS RULE:

* FOREIGN NATIONALS OR CORPORATIONS MAY COMPLETELY OWN A CONDOMINIUM OR TOWNHOUSE.

To take ownership of private land, residential house and lot, and commercial building and lot, foreign nationals or corporations must form a Philippine Corporation. The Corporation is to be 40% foreign-owned (maximum ) and 60% Filipino owned (minimum) and with at least five (5) incorporators. Upon incorporation, the primary bank account should be tied up to the Corporation. A foreign national may be the only person in the bank account, allowing him/her total control over the funds derived from the Corporation and the income or sale of the asset or property.

* WHERE A FORMER NATURAL BORN FILIPINO WHO BECAME A CITIZEN OF ANOTHER COUNTRY. Balikbayan, a former natural Born Filipino Citizen and now a citizen of another country, is entitled to own for residential purposes, not more than 1,000 square meters for urban land and not more than one (1) hectare of agricultural or farmland.

*A FILIPINA WHO MARRIES AN ALIEN RETAINS HER PHILIPPINE CITIZENSHIP ( to avoid being stateless) unless by her own act or omission. She is deemed to have renounced her Filipino citizenship, may acquire and own private lands in the Philippines.

* NEW DUAL CITIZENSHIP  LAWS about PROPERTY OWNERSHIP.
Dual Citizenship just got approved. Dual Citizenship means having two Citizenship and passport from two different countries. Inquire for more updates regarding the procedure in the implementation of this new Law.

For your Real Estate Investment in Cebu, Philippines,

BE SAFE. Consult only with Licensed Cebu Real Estate Broker.

Ma. Corazon "COCO" dela Fuente

PRC Reg. No. 006953

Mobile: 09177965825

Website: https://www.cebubai.com

Taxes and Fees in Real Estate Purchase in the Philippines

Please be guided on the following Taxes and Fees when buying a Real Estate Properties:

A. Buying Property from a Real Estate Developer

The Following Taxes and Fees are included in the Purchase Price of a Residential Property.

1. 12% Value Added Tax (VAT) -

   Exempted from 12% VAT 

   Residential Lot Only – Price does not exceed P1,919,500

   House & Lot -             Price does not exceed P3,199,200

2. Documentary Stamp Tax - 1.5% of the total selling price

3. Transfer Fee - 1/2 of 1% of the total selling price

4. Registration Fee - approximately 1/2 of 1% of the total selling price 

B. Buying Property from Individual Owners

1. Capital Gains Tax (CGT) - 6% of the total selling price or Zonal Value is higher. This tax is usually for the account of the seller, but some owner's price is net of tax, meaning the CGT is for the buyer's account.

2. Documentary Stamp Tax - 1.5% of the total selling price or Zonal Value whichever is higher. Like the CGT, this tax is usually for the seller's account unless otherwise agreed upon by both parties.

3. Transfer Tax - - 1/2 of 1% of the total selling price

4. Registration Fee – approximately 1/2 of 1% of the total selling price

C. Buying Property from a Corporation

1. Creditable Withholding Tax (CWT) - 6% of the total selling price. This tax is usually for the account of the seller, but some owner's price is net of tax, meaning the CGT is for the buyer's account.

2. 12% Value Added Tax - 12% of the purchase price is added on. ( not applicable if the property is not used in the trade or business).

3. Documentary Stamp Tax - 1.5% of the total selling price. Like the CGT, this tax is usually for the seller's account unless otherwise agreed upon by both parties.

4. Transfer Tax -- 1/2 of 1% of the total selling price

5. Registration Fee - approximately 1/2 of 1% of the total selling price

For all your Real Estate Investment in Cebu...

BE SAFE CONSULT ONLY WITH LICENSED REAL ESTATE BROKER.

Ma. Corazon "Coco" dela Fuente

PRC Reg.No. 006953

Mobile No: 09177965825

https://www.cebubai.com

CEBU REAL ESTATE NEWS AND UPDATES: EFFECTIVE WAY TO SELL YOUR HOUSE FAST

CEBU REAL ESTATE NEWS AND UPDATES: EFFECTIVE WAY TO SELL YOUR HOUSE FAST https://www.cebubai.com

FIRST SOLELY RESIDENTIAL RESORT DEVELOPMENT THE NEXT VACATION DESTINATION IN MACTAN, CEBU

A Cebu base Real Estate Developer,  Tytans Properties and Development, Inc. has decided a beachfront as the site of its multibillion-peso first residential resort development located Barangay Buyong, Lapu-Lapu City, Cebu.

The Location of the project is known by almost all cebuanos because most of us left good memories of the beach resort while we were still kids, enjoying the fine powdery white sand of what it used to be Tambuli Beach Resort.

The 110,000-square meter sprawling development will rise at the old Tambuli West resort and the present site of Cebu Beach Club (CBC)

You just can imagine, While most  developers in Cebu pick the city center as location for their condominium projects, not one project in Cebu has been done that will alternatively serve as a vacation destination for unit owners and tenants.

Tambuli Seaside Living development is describe as modern Tropical will sit on an 11-hectare property boasting of a ready 200-meter natural beachfront with fine, powdery white sand, while residents can enjoy the exclusive use of the four-hectare amenity area.

Towers A & B consisting of 10 storeys and each housing 144 units expected to be turned over by fourth quarter of 2016.

The studio units will take up about 35 to 38 square meters while one-bedroom units will occupy a space of 46 to 63 square meters. Parking slots will also be made available.

Amenities will include modern Asian clubhouse spanning 5,000 square meters to house gym, café, huge deck by the sea, game room, ball room, convention center and a lagoon pool that is roughly 4,000 square meters in breadth.

There will also be a resort spa, fine dining restaurants, dry sports facility and additional features such as golf carts and mini waterfalls.

ENJOY 365 DAY OF FUN, SEA, SAND @ Tambuli Seaside Living. A worthwhile vacation destination for you & your family.

DECIDE ABOUT IT NOW.

What makes Tambuli Seaside Living different from other Condo Living?

1. The First Residential Resort Community in Cebu to have a READY  200 METERS WHITE BEACH FRONT.

2. The First Real Estate Development in Cebu having a four (4) hectare AMENITY AREA.

 

3. EXCLUSIVE. The 11 hectare development is solely use for residential/condo owners. 

4. State of the art Modern Tropical Resort Development

5. All units comes with Balcony 

6. All units are FULLY FURNISHED (until further notice)

7. RESERVATION @30,000 only

With us, a vacation everyday is possible. View more Photos: https://www.cebubai.com

Should you have any questions or Site Viewing, please don't hesitate to contact me.

COCO A. DELA FUENTE

09177965825

032.254.2398

Email: inquiry.cebubai@gmail.com

There are Riches in Cebu Memorial Lot

GREETINGS!

MC DELA FUENTE REALTY would like to offer MANILA MEMORIAL PARK located in Liloan, Cebu. Our lots have consistently appreciated in value through annual increases over the past years & with our more than 50 years of experience in the Memorial Park development. This has made Manila Memorial Park a safe and profitable investment alternative.

 

Memorial lots are a secure and stable form of investment. The need for a place to be buried is a basic need for all. Changing economies hardly affect the demand for it. Memorial Parks in the urban areas are quickly being filled-up. Accessible and convenient parks are becoming difficult to find. And with the continued increase in population in the urban areas, the demand for and shortage of memorial lots becomes more apparent.

 

We are offering those who wish to buy a lot at Manila Memorial Park in Liloan, Cebu with affordable and easy terms and considerations as follows:

1 -Four-year payment term (48 months)

  NO INTEREST / NO DOWNPAYMENT, As low as 1,940/month

 

2- SPECIAL PROMOS:

• SPOT CASH         15% Disc. Payable within      7 days

• Cash Conversion 10% Disc. Payable within  120 days

• Cash Conversion   5% Disc. Payable within  150 days

 

You may get in touch with me at (032) 511.1783 or 0932 8547899 for more information & a site tour. Thank You!!! All the BEST!

 

EFFECTIVE WAY TO SELL YOUR HOUSE FAST

Selling your House is more than just putting up a "FOR SALE" sign to where your property is located. You might be able to save money by selling it by yourself. But studies on Real Estate show that four out of five properties are sold through a Licensed Real Estate Broker or what we call REALTOR.

The Cebu Real Estate Brokers work together as a TEAM and have a network to share and to exchange listed properties for sale. Every property listing we get, we immediately made known this to fellow REALTORS/BROKERS and salespersons under us that a certain property is for sale at a certain location at this price. if you sell on your own, you cannot use this network without an agreement with a BROKER/REALTOR. This is our professional edge which unluckily, you as a seller may not have the opportunity to make use of. 

Moreso, the Brokers in Cebu KNOW who are our buyer for a particular property for sale. So, After we get a property listing for  sale, we offer it first to our buyers  in mind.

And Lastly, we are KNOWLEDGEABLE to  the right market value for a particular property in a particular location. We usually suggest to our buyer the right price for their property offered for sale in the market.

Now you know why we Brokers can sell your house fast.

Get Ready....

SELL YOUR CEBU HOUSE FAST. The 10 Steps to Real Estate Property Selling Process in Cebu