Well here's the latest listing of needs:-
http://primer.com.ph/tips-guides/201...ipino-citizen/
I didn't see any mention of the requirement to renounce your existing citizenship due to foreigners not being able to be dual citizens..............maybe it changed?
Anyone know?
I'll never do it anyway
Might be worth it for some of the older senior citizens who could benefit greatly from a medical aspect.
Ive read the requirements before a few times...It`s there!! Renounce your Brit citizenship!! Not a chance mate.
Even if you did it..The only benefit would be that you could own land here and vote...
Whoopydo!!
I am not a citizen, and i do own land over in the Philippines, i have sent cash over, i have seen it too.Originally Posted by fred
So has everyone lied to me do you think.
Yes they did!! lolI am not a citizen, and i do own land over in the Philippines, i have sent cash over, i have seen it too.
So has everyone lied to me do you think.
:How do the lie when they are smilling so sweetly.F in sods
If your name isn't on the title you don't.I am not a citizen, and i do own land over in the Philippines, i have sent cash over, i have seen it too.
So has everyone lied to me do you think.
If if does appear on the title you're in trouble as foreigners cannot own land...
Well actually sometimes they can........
but not in your case
I don't own anything , but i contribute to a happy life i am sure,If your name isn't on the title you don't.
If if does appear on the title you're in trouble as foreigners cannot own land...
Well actually sometimes they can........
but not in your case
Believe it or not Peter..My name is on every title deed that we have.. That is due to the family code laws in regards the owner and his/her spouse..Both names must be added by law.If your name isn't on the title you don't.
If if does appear on the title you're in trouble as foreigners cannot own land...
Well actually sometimes they can........
but not in your case
In reality..It means sweet F.A. in regards a foreigner owning land in the R.P!
Did i dream this, but if we had kids and a property in the Philippines, and something happened to Emma',
The house would be mine until the kids come of age then it will past onto them when I die,
Or was this some sort of nightmare.
No... You and the kids would get an equal share...Well not exactly,but near enough!!
You see i do read up on things and i do take it in sometimes but not in the right order
But what would happen in the same scenario if you dont have kids? it just passes to you ?.
Dont have the answer to that Harry , but i am sure someone will.
Best bet is to stay as we are and just rent places for months on end where ever we think we would like to be, remember we have the main house in Marikina as our home.
But like many say, until you are there , its all guess work .
Effectively..The foreigner own`s nothing ..They cannot purchase or own land except in certain cases via hereditary succession.
It`s very complicated when it comes to Inheritance laws and foreigners "rights"
If your Filipino spouse dies and you have kids,the estate can and will be divided to both the kids and the foreigner proportionally according to the R.P constitution.
If she dies and there are no kids in the union then it seems to me that the compulsory heir system can and will kick in, leaving the foreigner way down the bottom of the list.
Compulsory heirs..
- Primary – legitimate children and/or descendants
- Secondary – legitimate parents and/or descendants; illegitimate parents
- Concurring – surviving spouse; illegitimate children and/or descendants
Who ever inherits the property has 6 months to pay ALL estate taxes before heavy and regular fines are imposed.
If you look at the tax system on land and property here,it slowly begins to occur to me that the real owners were the R.P government all along.
Fred what are the estate taxes, is it something life a death duty or something,
If you are up to date with your taxes , is this a extra one that occurs once some one dies and leaves a house .
As far as I'm aware it's like this, REP Tax (Real Estate Property Tax) is payable annually. If you pay it within a certain period you get 50% reduction on the total amount.
Here in Metro Manila the RPT is 2% of the 'assessed' value of the property.
Our properties in the province have a RPT of 1% of the 'assessed' value of the property.
The assessed value is actually supposed to be a general 'fair market value'
multiplied by an assessment factor. All this is arrived at through the various ordinances of the city LGO or provincial LGO.
It's actually very cheap based on my experience when paid annually with discount. If it's not paid (often the case it seems) then interest and penalties can increase the amount significantly year by year. Eventually someone has to pay one way or another.
I know a Brit who lives a short drive outside Davao.
He and his Filipina wife owned quite a substantial farm both in land size and business turnover.
His wife passed away. They had no children and she also had no remaining family
The British guy is currently legal owner of the farms and the businesses.
He has been informed when he passes away himself it all goes to the government
So i had better ask to see if this has been paid regular like every year or there could be a big bill.
If that is the case then. Why bother it's not mine
So he had best just remarry.
It`s the same as inheritance tax Steve, owed by your loved ones after death..It includes pretty much everything you own including bank savings,property,land etc..You name it.
If even one spouse kicks the bucket,the law kicks in and 50% has to be paid within 6 months before fines incur..Usually by the surviving spouse.
We have taken out a life insurance policy to protect each other and our kids..
Thanks Fred, i must have a talk with Emma and see what she and the family have sorted out about there or could it be her father when it comes to it ( if you get my drift).
As always a bill shared by 5 siblings is better then being paid by just the one.
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