{"id":37209,"date":"2016-12-06T17:31:20","date_gmt":"2016-12-06T10:31:20","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-to-own-an-island-in-the-philippines\/"},"modified":"2016-12-06T17:44:28","modified_gmt":"2016-12-06T10:44:28","slug":"how-to-own-an-island-in-the-philippines","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-to-own-an-island-in-the-philippines\/","title":{"rendered":"How to own an island in the Philippines"},"content":{"rendered":"


\nFancy buying your private paradise?
\ntutkom\/Shutterstock
\nAsked how many islands there were in the Philippines at the 1994 Miss Universe pageant, Miss Philippines shot back: \u201cHigh tide or low tide?\u201d
\nHad Twitter or Facebook existed in 1994, the phrase would likely have caught on, and Donald Trump, who bought the pageant two years later, would have most certainly had some 140 characters to spare.
\nThe correct answer of course was 7,107 \u2014 7,500 according to this recent study \u2014 and dozens of these are for sale. An American billionaire even anonymously bought one for USD2 billion a few years back.
\nHaving a Philippine island for your personal hideaway is truly the pinnacle of exclusivity, but it is hardly a Moses-parted walk in the sea, especially for foreigners. When it comes to purchasing private islands in the Philippines, knowledge of local regulations will mean the difference between basking in paradise and getting beached.
\nSea\u2019s the limit
\nCall it a hangover from centuries of foreign occupation, but the sale of freehold land to non-citizens is constitutional taboo in the Philippines. All the foreign ownership limits that govern the bigger islands apply to the panoply of isles, islets, and keys that dot this part of Asia. Foreigners can always purchase the leasehold on an island though. Lease terms are available to prospective foreign land buyers for up to 50 years, with opportunities for a 25-year renewal.
\nSay I do
\nLeasing a private island is a viable option if you\u2019re not thinking of passing down the property to an heir anyway. However, you can buy land in your Filipino spouse\u2019s name. To the courts, your wife or husband owns the property, but you are entitled to inherit it in the event of his or her death. (Don\u2019t get any ideas.)
\nIncorporation
\nForeigners can also gain control of a Philippine island via incorporation. A corporation, partnership, or association that is duly constituted under Philippine laws may serve as a landholding company, as long as a Filipino citizen owns at least 60 percent of the equity.
\nVerify the title
\nYou\u2019ll be confronted with plenty of island properties for sale in the Philippines, but it\u2019s essential to check with the local registry of deeds to verify the island title\u2019s authenticity. Many islands are deemed tax declaration properties, i.e. land with no titles but are salable anyway because the owner has declared the land for tax purposes. Beware of getting embroiled in disputes and claims over islands, especially those that have been with a family for generations. Take care to look up the chain of ownership.
\nBlue lagoon in Palawan, Philippines. PhotoRoman\/Shutterstock
\nBeaches are still public domain
\nShorelines and riverbanks are considered public property in the Philippines. If you plan on developing the island as an exclusive resort, you may need what is known as a foreshore lease, usually procured from the Department of the Environment and Natural Resources. This government concession gives you control over the foreshore, defined as the strip of the coast covered by the ebb and flow of the tide, for 25 years, with possibility of an extension for another 25.
\nRight of way
\nKnow that everyone still has the inherent right of access to beaches \u2014 even if that beach is on another island such as yours. Current public easement laws forbid permanent structures on the beach or within 20 metres of the high tide mark. In beaches designated as \u2018forest areas,\u2019 this setback zone could extend up to 40 metres. Liaise with a qualified real estate broker on how to navigate such particulars, as well as the local building and construction codes in the area, before you finalise the sale.
\nInspect the island
\nGoogle images are not the entire picture. You need to fly to the island and see it in all its paradisiac glory, flaws and all. Some islands may have marshy conditions and require filling with silt or sediment, or may be lined with mangrove forests, which have come under conservation status. Like many tropical areas in the world, the Philippines is known for being crisscrossed by typhoon belts, so time your on-site viewing accordingly.
\nGet the proper appraisal
\nSales of private islands in the same area, let alone those of similar sizes, can be infrequent, making island real estate a truly rarefied, niche market even for an archipelago like the Philippines. Due to the rarity of island real estate transactions, proper valuation could be troublesome. Keep this in mind when negotiating with a real estate broker. Your legal counsel will have the last word on your island purchase.
\nIf you set out to make time for your island for more than just two weekends in a year, then an island purchase may yet be a sensible one. Surround yourself with contacts as fluent in your language as they are with the lay of the land, and your island purchase will go swimmingly well.
\nDo you have tips for buying Philippine islands? Sound off in the comments below.
\nRead next: How to buy land in Cambodia (like Angelina Jolie)
\n
\nSource : property-report.com
\nRead more…How to own an island in the Philippines<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Fancy buying your private paradise? tutkom\/Shutterstock Asked how many islands there were in the Philippines...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-37209","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-9G9","jetpack-related-posts":[{"id":36238,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/could-a-philippine-island-be-the-next-singapore-or-hong-kong\/","url_meta":{"origin":37209,"position":0},"title":"Could a Philippine island be the next Singapore or Hong Kong?","date":"November 28, 2016","format":false,"excerpt":"\r Qatar real estate firm has big plans for the Philippines Aerial view of tropical islands near Palawan, Philippines. 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