Dave Hounddriver Posted January 26, 2012 Author Posted January 26, 2012 I will send a pm to seriously interested parties with any details I have. For those with mild curiosity or just suggestions I hope we can continue to exchange ideas on this thread.So far I am liking the ideas. It seems that a corporation with our filipina wives owning 60% of the stock has merit. Subdividing has merit but for me I don't see the need (I have become a bit like the filipinos who know that possession is 9/10ths). Having one guy buy it and sell 50 year leases to the other 3 guys could work. What else have we got? Link to comment Share on other sites More sharing options...
OnMyWay Posted January 26, 2012 Posted January 26, 2012 I will send a pm to seriously interested parties with any details I have. For those with mild curiosity or just suggestions I hope we can continue to exchange ideas on this thread.So far I am liking the ideas. It seems that a corporation with our filipina wives owning 60% of the stock has merit. Subdividing has merit but for me I don't see the need (I have become a bit like the filipinos who know that possession is 9/10ths). Having one guy buy it and sell 50 year leases to the other 3 guys could work. What else have we got?Dave,count me in as seriously interested in finding out more! :no: Link to comment Share on other sites More sharing options...
Jollygoodfellow Posted January 26, 2012 Posted January 26, 2012 Having one guy buy it and sell 50 year leases to the other 3 guys could work. What else have we got? just squat on the land and save yourself some money like everyone else. :no: 2 Link to comment Share on other sites More sharing options...
Steve & Myrlita Posted January 26, 2012 Posted January 26, 2012 For financial purposes, a husband and wife are considered as 1 entity. 1 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted January 26, 2012 Author Posted January 26, 2012 just squat on the land and save yourself some money Oh that reminds me, I guess a guy would have to rake the sand once in a while to clean up after any locals who took a 'squat' on the beach :hystery: Its one reason to stay away from high population areas when on the beach. Link to comment Share on other sites More sharing options...
Mike S Posted January 26, 2012 Posted January 26, 2012 (edited) Foreign Ownership as a Philippine Corporation Foreign nationals or corporations may completely own a condominium or townhouse. To take ownership of a private land, residential house and lot, and commercial building and lot, foreign nationals or corporations should form a Philippine corporation. The corporation is to be 40% foreign-owned (maximum) and 60% Filipino-owned (minimum), and with at least five [5] incorporators. Upon incorporation, a main bank account should be tied to it. A foreign national may be the sole person in the bank account, allowing him/her total control over the funds derived from the corporation and the income or sale of the asset or property. Foreign Leasing of Philippine Real Estate Property WOW ...... I never knew this ..... I wondered how guys got by with only having a 40% ownership but actual controlled the property ....... "he that controls the purse strings controls the world" ...... now where did I hear that before ...... was it wife #1 or wife #2 ...... damn I forget ...... hate getting old .... :no: :hystery: :hystery: Edited January 26, 2012 by Mike S 1 Link to comment Share on other sites More sharing options...
Curley Posted February 12, 2012 Posted February 12, 2012 Dave I would be interested depending on where it is. Link to comment Share on other sites More sharing options...
Curley Posted February 12, 2012 Posted February 12, 2012 Do corporation shares have to be offered to the other directors first if one director wants to sell? Link to comment Share on other sites More sharing options...
Jim Sibbick Posted February 14, 2012 Posted February 14, 2012 Are you sure corporations can own the land as its not a business ?The business of the corporation could be property development.Then 4 parties lease the land from the corporation for 2 x 25 years.Regards: Jim Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted February 14, 2012 Author Posted February 14, 2012 Update.Although I still believe the concept is sound, the practicalities of this kind of purchase make it very difficult. At this time there is no plan to continue with the plan outlined in this thread. For the curious, this is some pics of the beach lot that got my interest up 1 Link to comment Share on other sites More sharing options...
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