Q. What is Capital Gains Tax and Who Pays for It?

By Philippine law, sellers are subject to pay the Capital Gains Tax. The rate of six percent on the sale of real property.

Tax declarations are proof that the holder has a claim of title over the property and serve as a sufficient basis for inferring possession.

Q. Can Foreigners Own a Condominium Unit in the Philippines?

Yes. Foreigners are allowed to own condo units, as long as 60% of the building is owned by Filipinos. R.A. 4726, foreigners can buy and register, under their own name, a condominium unit. The Condominium Certificate of Title (CTC) will be registered under the foreigner’s name.

Q. Can a former Filipino citizen buy land in the Philippines?

Former natural-born Filipinos who are now naturalized citizens of another country can buy and register, under their own name, land in the Philippines

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