Land and building ownership in the Philippines

[A from Philippine 0]

I owned 2000 sq meter land with hotel business and 1000 sq meter land agriculture/commercial in the Philippines.

I wanted to keep ownership of this property and continue operating my business. At the same time I am planning to get USA Citizenship and then immediately get Dual citizenship for Philippines. 

Do I need to sell the property and business or am I allowed to keep and operate my property and businesses while in the process of getting usa and Philippines dual citizenship?

Edited March 30, 2022 by agf831

[Timona 4,207]

You can own property in multiple countries, even if you aren't a resident there. Rich people do...

[A from Philippine 0]

I know a dual citizen can buy land in the Philippines,  the main issue here is I already owned land in the Philippines , I am natural born citizen.  Now I wanted to get USA  citizen, then apply to get Philippines  citizenship to become a dual citizen.  On the process of this usa and dual citizenship will I retain ownership of current Land?

[Penguin_ie 5,993]

***** Moving to Philippines regional forum as this seems more related to that country's laws than the USA.  If I am missunderstanding, feel free to click the "report" button and we can move it back. **********

[Talako 785]

Answered this question in the other thread that you posted in.

[Chancy 6,241]

12 hours ago, A from Philippine said:

I am planning to get USA Citizenship and then immediately get Dual citizenship for Philippines.

 

As a dual PH/US citizen, you will have the same PH land ownership rights as you did when you were a PH citizen prior to becoming a US citizen.

 

[Talako 785]

If you want to see it in writing:  https://www.philippineconsulatela.org/useful-links/owning-real-property-in-the-philippines

 

[JoBri 548]

My wife is a Philippines citizen. She is also an American citizen. She owned a lot of farmland, and a house, in the Philippines, prior to coming to the USA. To this day she still owns that house and land.  In 2017 She paid back property taxes on that land. Just last year she inherited more land in the Philippines. It is no issue. Our son also has dual citizenship.

Edited March 30, 2022 by JoBri

[RUJEN 140]

I think the OP is asking when she gives up her Philippine citizenship for American citizenship, and then turn around to apply for duo citizenship, can she still own land in the Philippines while in transition? at least that is how I took it......

 

[Cyberfx1024 7,980]

On 3/30/2022 at 12:00 AM, Timona said:

You can own property in multiple countries, even if you aren't a resident there. Rich people do...

The issue they are referring to is the Philippines doesn't allow for foreign ownership. 

[Timona 4,207]

2 hours ago, Cyberfx1024 said:

The issue they are referring to is the Philippines doesn't allow for foreign ownership. 

 

Really? Didn’t know this

[Steve2022 41]

On 4/4/2022 at 8:24 PM, Timona said:

 

Really? Didn’t know this

It is why there are so few jobs in the Philippines.  Few foreign businesses would wish to build a factory that they cannot own.  They can go to other countries and build a 100% wholly owned factory, and provide employment there.   This system of forbidding foreign ownership keeps the cost of labor low for the Oligarchs that control the economy.  The system was recently partly changed in a few industries, such as telecom.  Now Starlink can 100% own its business, and provide internet to rural customers.  So Starlink will soon provide service in the Phils.  https://www.reuters.com/world/asia-pacific/philippines-allow-full-foreign-ownership-telecoms-airlines-shipping-2022-03-22/