Unless you hold dual foreign-Philippines nationality, a foreigner cannot hold 100% ownership rights to any immovable property in the Philippines. Buying such properties can be quite risky. You need to enter into a partnership with a local national. If conflicts later arise, resolving them can be very complicated, time-consuming and difficult. And financially risky. Philippine courts do not resolve cases within days or months. Cases often take years. This can translate to an extensive loss of revenue (if the property is used for business or commercial purposes).
Plus properties can be quite expensive. As a dual national, I purchased a small plot in Punta Fuego in Batangas for 6 million PHP. That's about USD 125k. That's just for the land. Think about how many bitcoins you will need.
Marry a Filipina who can co-own the property or find a fool-proof way to really really really hold absolute rights to that property. Co-owning with a stranger is like playing with fire.
a foreigner cannot hold 100% ownership rights to any immovable property in the Philippines. Buying such properties can be quite risky. You need to enter into a partnership with a local national.
That is right. But what if the foreigner really wants to open a business here? That's why if someone is interested, the talks with the owner itself will be issued quickly to take on the so called "risk" and discuss all the legal things of this. And besides the thread title is not only meant for the foreigners but for a Filipino also.
Plus properties can be quite expensive. As a dual national, I purchased a small plot in Punta Fuego in Batangas for 6 million PHP. That's about USD 125k. That's just for the land. Think about how many bitcoins you will need.
Bitcoin is just an option for payment if the buyer wants to pay it with his bitcoin. Look like I mislead in the thread title. I will changed it.
