In the Philippines, Foreign Nationals can only buy condominium units under Republic Act 4726, otherwise known as the Condominium Act. The law provides that no condominium unit can be sold without at the same time selling the corresponding amount of rights, shares or other interests in the condominium management body (The Condominium Corporation) , and no one can buy shares in a condominium corporation without at the same time buying a condominium unit. Now the Condominium Act of the Philippines, R.A. 4726, expressly allows foreigners to acquire condominium units and shares in condominium corporations up to not more than 40 % of the total and outstanding capital stock of a Filipino owned or controlled corporation.
As for Philippine Visa Requirements, for those Nationals planning to stay for longer term visits to the Country, or for Non Philippine Nationals, a Retirement Visa may be applied through the Philippine Leisure Authority where proposed or “pre-existing investments may qualify the applicant for a Philippine Retirement Visa. The Philippine Leisure and Retirement Authority (PLRA) is now accepting Special Resident Retiree’s Visa (SRRV) applicants with...
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