Showing posts with label Philippine Real Estate. Show all posts

The CIPS Institute COMES to MANILA, PHILIPPINES

2:46 PM

In cooperation with the NATIONAL ASSOCIATION OF REALTORS® (NAR), the largest trade association of real estate agents in the USA, we are proud to offer the Certified International Property Specialist (CIPS), a well renowned training for international real estate transactions. The five-day curriculum will provide all participants full interactive participation, working groups, learn how to solve case studies, and most especially learn how to package and market yourself for global exposure!

FOUR (4) MORE COMPELLING REASONS WHY YOU SHOULD ATTEND THE CIPS COURSE AND OBTAIN CIPS DESIGNATION:

Be the first 100 REALTORS® to register at the special price of $595.

CIPS is the only designation of its kind in the worldwide real estate community. It bespeaks of expertise and global perspective, backed by powerful brand recognition across 60 countries.

A special-programmed tour of the choicest project sites has been prepared for your enjoyment while in Manila, Philippines and be privileged in becoming a referral agent thus earning referral commissions.

The institute shall be taught by the world renowned instructor Ms. Aida D. Turbow an International Real Estate Professional with over 25 years of experience in Global Marketing & Strategic Sales. She was instrumental in the development of the CIPS Program, Chair of numerous international committees, and the intellectual architect of the Portal for worldwide real estate developments. She was also awarded as the NATIONAL ASSOCIATION OF REALTORS® (NAR) Outstanding Instructor of the year in 2003 and 2011.

Qualified as a Trainer? Take advantage of the one (1) day, “Train the Trainer” program compliments from the Instructor on Saturday, 25 February 2012.

See the attached program details and be sure to contact us for early reservation. For reservation and questions, please let us know via email at crebanar@yahoo.com / creba_national@yahoo.com or eyia888@gmail.com.

Be a CIPS Designee!

Very truly yours,

EVANGELINE A. YIA JULIUS G. TOPACIO

Chairman, CREBA-NAR Global Real Estate Council Vice-President for Global Real Estate Alliances

REALTOR.com Goes Global, Launches International Site

7:58 PM

Today the National Association of REALTORS®, and Move, Inc. (NASDAQ: MOVE), the leader in online real estate and operator of Realtor.com, extended the lead of Realtor.com as the world’s largest online destination for real estate listings with the launch of the Realtor.com International web site.

Available at www.realtor.com/international, the new site delivers the millions of for-sale property listings displayed on Realtor.com to buyers across the globe, as well as residential properties fed to the site by foreign content providers. At launch, Realtor.com International will feature residential real estate listings from Brazil, Bulgaria, Croatia, France, Italy, Portugal, Romania, Serbia, Slovakia, and Spain. The Realtor.com International site can also be accessed from the homepage of Realtor.com.

In the past three months, nearly 2.6 million international visitors searched for U.S. real estate on Realtor.com. The top five countries where searches originated from are Canada, the United Kingdom, Germany, Australia and India.

“Increasingly, more and more Realtors are working with international clients who want to buy property in the U.S. and the new Realtor.com International web site will not only allow Realtors to offer their expertise and knowledge to a broader audience, but will also bring buyers and sellers together across the globe,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, Rhode Island. “Foreign buyers understand the value of owning a home in the U.S. and can rely on a Realtor because of their global perspective and understanding of different cultures and real estate practices. This collaboration with Move is just one of many ways Realtors can expand and grow their business globally.”

To help international and foreign-born buyers as they search for U.S. residential real estate, the new Realtor.com International search experience delivers enhanced translation options in 11 languages including Chinese, Dutch, English, French, German, Italian, Japanese, Korean, Portuguese, Russian, and Spanish. The site also features easy-to-use currency and dimension converters available on all pages.

“The U.S. continues to be a top destination for international buyers from all over the world, and Realtor.com remains a natural choice for international buyers because we offer the largest, freshest and most accurate collection of property listings available online,” said Realtor.com President, Errol Samuelson. “In recent years, foreign buyers have increasingly become interested in owning real estate in the United States. Like millions of U.S. consumers, they trust the Realtor.com brand to help them connect with Realtors and find the property that’s right for their needs. Opening up the world of real estate on Realtor.com to include an international search experience is a natural evolution of our offerings at Move. We’re very excited to help hundreds of thousands of Realtors grow their businesses beyond U.S. borders as they connect with international buyers.”

NAR’s 2011 Profile of International Home Buying Activity reports the U.S. remains a top destination for foreign buyers with international purchases surging $16 billion in the last year. According to the survey, total residential international sales last year in the U.S. equaled $82 billion. Total international sales were split evenly between non-resident foreigners and recent immigrants.

International buyers of U.S. residential real estate came from 70 countries; the top five (Canada, Mexico, China, U.K., and India) accounted for 53 percent of all transactions from March 2010 to March 2011. Most states in the U.S. had at least one international transaction, while Arizona, California, Florida, and Texas—accounted for 58 percent of all U.S. residential transactions completed by international buyers. Proximity to the home country, the convenience of air transportation, and climate and location are the most important considerations to international buyers.

Presentations for international content providers interested in learning how to feed their listing to Realtor.com International will be held at the 2011 Realtors® Conference and Expo in Anaheim, California, November 11th through 14th.

Evangeline Alzona Yia Was recognized for breaking ground on the REALTOR.com International launch as an initial data content provider.

Read more: REALTOR.com Goes Global, Launches International Site | REALTOR.com® Blogs

View Photos Here

Philippine Condo Living

9:27 PM

Living in Philippine Condos offers an alternative lifestyle especially if you are a young professional who wants to have a place to call your own or if you have a family and you want to have a secure and spacious living space that is affordable and more convenient than buying a conventional home.

Living in Condos, especially in Philippines offers different types of lifestyle and living conditions. It is cheaper than buying a conventional home or buying lot then built a house later on. Philippine condos offer you amenities like 24-hours maximum security, well guarded parking space, swimming pool and others that an individual cannot enjoy in any other type of home dwellings.

There are many condominiums that is available in Philippine Real Estate, like in Makati, Pasig, Taguig and Muntinlupa also in provinces like Baguio and Tagaytay of which can satisfy your needs and requirements. However, whatever type of condo you opt to buy, you should bear in mind that Condo Living in the City is different than living in a conventional home environment that you might accustom to live.

The difference between living in Philippine Condominiums and in Conventional Home is the dual nature that comes with every condo unit home ownership. A condo homeowner shares the responsibility over the operating and maintenance cost of shared spaces in the property such as lobby, passageways, elevators and other essential parts of the Condominium complex.

A condo unit is also cheaper than owning a single detached home which may take you years to save for before owning it. Living in a condo unit, you will also be able to enjoy the amenities and shared facilities like the gym, pool, function rooms, children center, gardens and others that common in condominium complexes. Also, as a condo homeowner, you became a part of unique community and take part in any decision making activity.

If high-rise living appeals to you, finding the right property is easy. There are many Condominiums featured in Philippine Real Estate agencies. These properties can range from luxurious Philippine condos with elegant designs and spacious greenery which provide you with healthy environment to grow and proper to affordable med-rise condo units.

One of the best firms which is considered in the Philippine real estate is International Real Property Exchange (IRPeX). It is a diversified firm licensed to broker and manage properties in Cities and Provinces such as condominiums as well as townhouses, house and lots, lot only, farm lot and commercial properties.

Finding Real Estate Property

12:30 PM

Moving to a new place requires a lot of planning and it needs to be done effectively. A thorough research should be done while finding an appropriate property, with all the basic amenities and utilities. It makes the moving experience a pleasant, efficient and effective one. Searching a property should meet your lifestyle and at the same time, it should be within the budget. There are various property locator service providers that help you to find a property which suits your needs. Now you can find even the property listings that are available on web like International Real Property Exchange (IRPeX)

With the number of properties growing each year, perspective residents have a huge variety to choose from. With property prices continuing to climb however, you'd want to make sure the property you choose is exactly what you want, because you'll probably be paying a fair proportion of your income on either rent or repayments. There are many other things to consider depending on your requirements. A professional or retiree may be looking for a building that contains a higher proportion of owner occupiers and has good sound insulation, whereas a younger person may be happy to live in a building with a higher proportion of students and won't be as bothered by the noise from parties or other loud behavior in the building. Price is also a major factor and generally you'll get what you pay for.

What you want from a property will vary from one person to the next, but if you cover the main items of quality, parking, facilities and security, you'll be well on your way to finding the perfect property.

Home Ownership is now just a click away Buy Philippine Homes is a website dedicated for home buyers and sellers.Buying / Selling a property can now be simplified through online marketing. One can acquire a Philippine property without leaving ones home, let alone ones country of residence. Buyers can be provided with complete details of the property and assist buyer with the process of the purchase and documentations as well. For more information, please Contact Us @ +63917-8125791 or email us @ info@buyphilippinehomes.com

Baguio - The Ideal Place for your Retirement

8:43 PM

Retiring is good thing for most people, it’s a time that comes after years and years of hard work and slavery to a job. It is something that most people at the age of 58 and 59 begin to look forward and anticipated for a long time. Having the time to spend with your family and indulge in your passions, without the stress of worrying what your boss thinks or worrying about how you’re going to survive if you lose your job...

When you are at your retirement age,one of the most important thing to consider is the place where you can settle at your retirement, a place where you can relax and enjoy with your loved ones - where is the best place to retire? I suggest, BAGUIO. Baguio is a city on the Cordillera mountain range in the middle of the island of Luzon, in the Philippines. Due to its cool mountain weather, beautiful sceneries and peaceful atmosphere, Baguio is considered as the summer capital of the Philippines. It is also called the City of Pines because of many pine trees planted all over the city.See yourself playing golf, enjoying a horse back ride, planting your own farm or just simply sitting down at your veranda beside your loved ones enjoying this beautiful environment that Baguio is offering you. Truly a relaxing place to spend every minute of your day.

International Real Property Exchange (IRPeX), the leading Philippine Real Estate firm has a wide range of list of Philippine properties specially in Baguio City. House and lot, Baguio condominiums, Baguio rest house, Baguio vacation houses, farm houses in Baguio and even for rent houses in Baguio... We are willing to help you find your Dream Retirement Home.

For more information about IRPeX regarding Baguio Real Estate, please check on our listing here or contact us.

Guidelines on Settlement of Estates

7:39 AM

WHAT IS AN ESTATE?

An Estate is comprised of the real and personal properties of a decedent.
A life insurance policy or a pre-need plan or a mutual fund placement is considered personal property.

WHEN IS THE SETTLEMENT OF AN ESTATE REQUIRED? The settlement of an estate is required by Sun Life under the following circumstances:

The beneficiary who will receive the proceeds under a life insurance policy or pre-need plan is an Estate.
The owner of the life insurance policy or pre-need plan or mutual fund placement has become an Estate and needs to transact business with the company.

HOW IS AN ESTATE SETTLED? An Estate may be settled judicially or extra judicially:

I. EXTRAJUDICIAL SETTLEMENT.

“Extrajudicial” means “outside of court.”
The heirs do not have to go to court to partition the properties left
by the decedent.
There are two (2) kinds of extrajudicial settlement:

A. COMMON REQUIREMENTS FOR AN EXTRAJUDICIAL SETTLEMENT TO BE VALID:

The decedent died intestate, i.e., without a valid will;
The estate has no outstanding debts at the time of the extrajudicial settlement;
The heir/s are all of age, or the minor heirs are represented by their judicial guardians or legal representatives;
The extrajudicial settlement is made in a public instrument, stipulation or affidavit duly filed with the Register of Deeds;
The fact of such extrajudicial settlement must be published in a newspaper of general circulation once a week for three (3) consecutive weeks; and
The parties to the extrajudicial settlement shall file a bond with the Register of Deeds in an amount equivalent to the value of the personal property involved.

This bond should be filed simultaneously with the extrajudicial settlement instrument(document). Such bond will answer for the payment of any just claim at any time within two (2) years after the settlement and distribution of an estate.

B. WHO MAY EXECUTE AN EXTRAJUDICIAL SETTLEMENT?

THE SOLE HEIR. The one and only heir may adjudicate the entire estate to himself by means of an affidavit (called an “Affidavit of Self-Adjudication”) filed in the Register of Deeds of the place where the decedent resided.
THE HEIRS* AGREEING AMONG THEMSELVES. The heirs may divide the estate among themselves by means of a notarized instrument filed in the Register of Deeds.

The steps to follow are:

a. Prepare a “Deed of Extrajudicial Settlement of Estate and Adjudication of Estate” to be signed by all of the which must contain the following information:

That the decedent left no will;
That the decedent left no debt;
Each heir’s relationship to the decedent (e.g. spouse, son, daughter, father, mother etc.);
That they are the decedent’s only surviving heirs;
An enumeration and a brief description of the decedent‘s properties, both real and personal, which the heirs are now dividing among themselves. The decedent’s Sun Life Financial life insurance policy; pre-need plan number; or mutual fund.

* Heirs for purposes of the discussion on extrajudicial settlement, may refer to the following:

if the deceased was single without children – surviving parents;
if the deceased was single with children– legitimate and illegitimate children only;
if the deceased was single with illegitimate children and surviving parents – surviving parents and illegitimate children only;
if the deceased was married with children - legal spouse and illegitimate and legitimate children only; and
if the deceased was married with illegitimate children – legitimate spouse, surviving parents and illegitimate children. Claimants are encouraged to seek the advice of their own legal counsel.

Placement certificate number must be specifically mentioned; and How the properties are to be divided among the heirs including a specific mention of who will assume ownership and/or all the benefits resulting from the Sun Life Financial life insurance policy; pre-need plan; or mutual fund placement.

b. Have the “Deed of Extrajudicial Settlement and Adjudication of Estate” notarized before a Notary Public after all the heirs have signed it.

c. Secure a bond from a reputable bonding company acceptable to the Register of Deeds. The amount of the bond is equivalent to the value of the personal property included in the extrajudicial settlement.

d. Register the notarized “Deed of Extrajudicial Settlement and Adjudication of Estate” with the Register of Deeds. The bond is simultaneously filed with the “Deed of Extrajudicial Settlement and Adjudication of Estate”.

e. Publish the “Deed of Extrajudicial Settlement and Adjudication of Estate” in a newspaper of general circulation once a week for three (3) consecutive weeks.

II. JUDICIAL SETTLEMENT OF ESTATE.

There are times when resort to court is unavoidable, particularly when the deceased left a will or debts and/or the heirs are in dispute.

A. COMMON REQUIREMENTS FOR JUDICIAL SETTLEMENT:

By means of a petition filed in court.
Where filed?

If the decedent was a resident of the Philippines at the time of his death, the petition must be filed before the Regional Trial Court in the place where he resided at the time of his death.
If the decedent was a resident of a foreign country at the time of his death, the petition must be filed in any Regional Trial Court in the province where he had estate.

3. Publication. Notice of the filing of the petition for settlement of estate and the proceedings thereof are
required to be published in a newspaper of general circulation once a week for three consecutive weeks.

B. WHEN IS THERE A JUDICIAL SETTLEMENT?

SUMMARY SETTLEMENT OF ESTATES OF SMALL VALUE. An estate of small value is worth Ten Thousand Pesos or less, regardless of whether or not the decedent left a will.

The steps to follow are:

File a petition in court alleging that the estate is of small value.
Publish a notice of the settlement proceedings in a newspaper of general circulation once a week for three (3) consecutive weeks.
After completion of publication, the court may set the case for hearing and proceed summarily to settle the estate.

2. PROBATE OF WILL. If the decedent left a will, such must be probated, i.e., allowed or disallowed.

The steps to follow are:

File a petition in court praying for the probate of the will and settlement of estate of the decedent.
The court will set a time and place for the probate and shall cause notice of such to be published in a newspaper of general circulation once a week for three (3) consecutive weeks.
On the hearing date, the court will proceed with the probate of the will and distribute the estate to the heirs/legatees accordingly.

3. DECEDENT LEFT NO WILL. If the decedent left no will, the steps are the same as the above, except that the petition will pray for the settlement of the estate of the decedent.

Multiple Listing Service

8:36 PM

What is MLS?

Multiple Listing Service is a service provided for International REALTOR® Members .

a facility for the orderly correlation and dissemination of listing information so participants may better serve their clients and customers and the public

a means by which authorized participants make blanket unilateral offers of compensation to other participants or

a means of enhancing cooperation among participants

a means by which information is accumulated and disseminated to enable authorized participants to prepare appraisals, analysis, and other valuations of real property for bonafide clients and customers

a means by which participants engaging in real estate appraisal contribute to common databases

The most basic element of an MLS is that it is a compilation of the currently listed properties for sale or lease in an area. This information can be compiled in hard copy publication or more often today in a computerize and often web-based system.

MLS is more than just a list of properties for sale. There are numerous publications or websites where you can go to find properties for sale, and those aren’t MLS. They’re missing a key element to what makes an MLS unique and that is a unilateral offer of compensation from the listing broker to cooperating brokers who find the buyer. In an MLS, listing brokers agree to pay cooperating brokers a percentage of the sales price or a flat Peso amount if they find the buyer for a property they have listed.

MLS – simply put – is the exchange of property information for sale or lease and offers of compensation that lead to cooperative sales and lease transactions.

MISSION

To empower, support and educate our International REALTOR Members to achieve their goals by providing cutting edge resources that improve and enhance their Real Estate Business to the next level.

VISION

By embracing the acceleration of Information technology change, we lift the professional standards that fosters an environment that guarantees integrity and enlightenment and keeps our International REALTOR Members in the forefront of real estate as the premier source of accurate real estate data.

IRPeX - Buy Philippine Homes on YouTube

3:30 PM

Get a glimpse of your future home and investment with Buy Philippine Homes' YouTube Channel. Browse and watch project profiles and walk-through of our property listing and get connected to your future home and investment with a licensed Real Estate Broker. Don't forget to subscribe and leave your mark! Happy viewing!

Rules Governing Philippine Citizenship

12:41 PM

Republic of the Philippines
Department of Justice
BUREAU OF IMMIGRATION
Manila

MEMORANDUM CIRCULAR NO. AFF-04-01

RULES GOVERNING PHILIPPINE CITIZENSHIP UNDER REPUBLIC ACT R.A. No. 9225 AND ADMINISTRATIVE ORDER (A.O.) NO. 91, SERIES OF 2004.

WHEREAS, R.A. No. 9225 declares that natural-born citizens of the Philippines who become citizens of another country shall be deemed not to have lost their Philippine citizenship under conditions provided therein;

WHEREAS, A.O. No. 91, Section 1 designated the Bureau of Immigration (BI), in consultation with the Department of Foreign Affairs (DFA), Department of Justice (DOJ), Office of the Civil Registrar-General, National Statistics Office (NSO), as the implementing agency of R.A. No. 9225

WHEREAS, A.O. No. 91, Section 2 authorizes the BI to promulgate and issue rules and regulations to implement R.A. No. 9225 ;

WHEREFORE, by authority of A.O. No. 91 Section 2 in relation to Commonwealth Act. No. 613, Section 3, as amended, the following rules are hereby adopted to carry out the provisions of R.A. No. 9225

Section 1. Coverage. – These rules shall apply to former natural-born citizens of the Philippines, as define by Philippine law and jurisprudence, who have lost their Philippine citizenship by reason of their naturalization as citizens of a foreign country.

Sec. 2. Former natural-born Philippine citizen already in the Philippines and a BI-registered alien – A former natural-born citizen of the Philippines who is already in the Philippines and registered in the BI shall file a petition under oath to the Commissioner of Immigration for the cancellation of Alien Certificate of Registration (ACR) and issuance of an Identification Certificate (IC), as the case may be, under R.A. No. 9225

Sec. 3. Former natural-born Philippine citizen who is abroad but a BI registered alien – A former natural-born citizen of the Philippines who is abroad but is a BI-registered alien shall file a petition under oath to the nearest Philippine Foreign Post for evaluation. Thereafter, it shall forward the entire records to the Commissioner of Immigration for the cancellation of Alien Certificate of Registration (ACR) and issuance of an IC under R.A. No. 9225

Sec. 4. Former natural-born Philippine citizen already in the Philippines and not a BI-registered alien – A former natural-born citizen of the Philippines who is already in the Philippines but has not registered with the BI within sixty (60) days from date of his arrival shall file a petition under oath to the Commissioner of Immigration for the issuance of an IC under R.A. No. 9225

Sec. 5. Former Natural-born Philippine citizen who is abroad and not a BI-registered alien – A former natural-born citizen of the Philippines who is abroad and is not a BI-registered alien shall file a petition under oath to the nearest Philippine Foreign Post for the issuance of an IC under R.A. No. 9225

Sec. 6. Forwarding address. Photographs. – In all petitions under Sections 2 to 5 hereof, the applicant must indicate his or her latest forwarding address. Three (3) recent 2” x ”2 photographs of the applicant (front, left side, and right side views over white background) shall be attached to the petition.

Sec. 7. Fees. – Each applicant under these Rules shall pay a one-time fee for the processing of the application and issuance of the corresponding IC.

Applicants already in the Philippines shall attach the official receipt for the amount of P2,500.00 as proof of payment of processing fee. Applicants who are abroad shall attach the official receipt for the amount of US$50 or its equivalent in foreign currency acceptable to the Philippine Foreign Post concerned.

Sec. 8. Proof as natural-born citizen of the Philippines. – A former natural-born citizen of the Philippines, who was born in the Philippines, shall submit the NSO-authenticated copy of his or her birth certificate.

On the other hand, a former natural-born citizen of the Philippines, who was born abroad, shall submit the original copy of the Report of Birth issued by the Philippine Foreign Post and in applicable cases, the Birth Certificate issued by competent foreign authorities.

These documents shall be sufficient to establish that the applicant is a natural-born citizen of the Philippines for purposes of these Rules.

Sec. 9. Submission of the Oath of Allegiance – Applicants under these Rules shall also sign and attach an Oath of Allegiance to the Republic of the Philippines as follows:

“I, (name of the applicant) solemnly swear (or affirm) that I will support and defend the Constitution of the Republic of the Philippines and obey the laws and local orders promulgated by the duly constituted authorities of the Philippines, and I hereby declare that I recognize and accept the supreme authority of the Philippines and will maintain true faith and allegiance thereto, and that I impose this obligation upon myself voluntarily without mental reservation or purpose of evasion.”

Sec. 10. Strict compliance. Effect of non-compliance. – All petitions must strictly comply with the preceding requirements prior to filing at the Office of the Commissioner or at the nearest Philippine Foreign Post, as the case may be. After the filing of the petition, the same shall be assigned to an evaluating officer who shall evaluate the petition without further proceedings.

In the case of petitions that do not comply with the requirements, the applicant shall be notified to submit the required documents within thirty (30) days from receipt thereof. Otherwise, the petition shall not be favorably acted upon by the Bureau of Immigration or by the Philippine Foreign Post.

If after evaluation, the documents submitted fail to establish that the applicant is a natural-born citizen of the Philippines, the applicant shall be notified of such fact in writing by the Commissioner of Immigration or by the Philippine Foreign Post.

Sec. 11. Approval Procedures. – If the petition is found to be sufficient in form and in substance, the evaluating officer shall submit the findings and recommendation to the Commissioner of Immigration or Consul-General, as the case may be, within five (5) days from date of assignment.

For Applications filed under Section 2 and 4 of these Rules, the Commissioner of Immigration shall issue, within five (5) days from receipt thereof, an Order of Approval indicating that the petition complies with the provisions of R.A. No 9225 and its IRR, and further direct the chief of the Alien Registration Division (ARD) to cancel the subject ACR and/or to issue the corresponding IC to the applicant.

Each cancelled ACR shall, however, be attached to the Order of Approval to form part of the records of the applicant.

For applications filed under Section 3 and 5 of these Rules, the Consul-General shall issue, within five (5) days from receipt thereof, the Order of Approval indicating that the petition complies with the provisions of R.A. No. 9225 and its IRR. He shall then transmit copies of the Order of Approval, Oath of Allegiance, including the authenticated Record of Birth or Birth Certificate to the BI. Immediately upon receipt thereof, the BI shall issue the corresponding IC to the applicant and forward the same to the Philippine Foreign Post concerned. If the applicant is a BI-registered alien, the BI shall also cancel the subject ACR.

Sec. 12. Conferment of Philippine citizenship. Conditions. – Subject to full compliance with these Rules, the Oath of Allegiance shall be the final act that confers Philippine citizenship.

In case the applicant is in the Philippines, he may take his Oath of Allegiance before the Commissioner of the Immigration or any officer authorized under existing laws to administer oath. In the latter case, the applicant must submit the Oath of Allegiance to the BI to form part of his records.

In case the applicant is abroad, only the Consul General or a duly commissioned foreign service officer of the Philippine Foreign Post concerned shall administer the Oath of Allegiance.

The Oath of Allegiance shall thereafter be registered in accordance with the provisions of the Civil Registry laws.

Sec. 13. Repository of Records – The BI Records Section shall maintain the integrity of all the documents filed under these Rules. It shall send official copies of the Order of Approval and Oath of Allegiance to the NSO.

Sec. 14. Copies for the Applicant. Identification Certificate. Correction of errors. – The applicant shall be provided with an official copies of the Order of Approval and the Oath of Allegiance. Further, all IC’s issued under these Rules shall indicate Philippine citizenship under R.A. No. 9225 and A.O. N0. 91 s. 2004. Any clerical error or errors in the entries of the IC may be corrected, upon written request to and approval by the Commissioner of Immigration. The NSO shall be promptly provided with a copy of the corrected IC.

Sec. 15. Confidentiality of Records. – Any application, document of information given before the Bureau of Immigration or any Philippine Foreign Post shall not be divulged in any manner to any person or entity without the express written consent of the person to whom such application, record or information belongs.

Sec. 16. Other beneficiaries of R.A. No. 9225 – This memorandum circular shall equally apply to the unmarried child, whether legitimate, illegitimate or adopted, below eighteen (18) years of age, of those who re-acquire Philippine citizenship upon the activity of R.A. No. 9225

Sec. 17. Exemption from administrative review. Limitations. – The conferment of Philippine citizenship under these Rules shall no longer be subject to the affirmation by the Secretary of Justice pursuant to the DOJ Policy Directive of 7 September 1970 and Opinion No. 108, s. 1996.

However, Philippine citizenship under these Rules may be revoked by competent authority upon a substantive finding of fraud, misrepresentation or concealment on the part of the applicant.

Sec. 18. Effectivity. – This memorandum circular takes effect fifteen (15) days after its publication in the two (2) newspapers of general circulation.

Source: http://immigration.gov.ph

Buying Philippine Real Estate Properties

8:10 PM

Buying real estate is more than just finding a place to call home. Investing in Philippine Real Estate Properties has become increasingly popular over the past years and has become a common investment vehicle. Find a property to call your home or invest for your future.

The first major advantage to investing in Philippine real estate is that you are purchasing an extremely expensive product. "It is the best option in protecting your hard earned money. Unlike stocks or bonds which may go down in value and are too risky, properties provide hard assets which you can use or sell or rent out. It’s a productive asset. It is the foundation of wealth, in which will generate cash flow once you invest the right way. The key factors for high returns is when you invest in a property with a good location, good quality of development and from a developer with proven track record of on time delivery and property management to ensure your property will gain high resale value and rental income upon turn over.”

Secondly, “The income you will benefit from buying a good property in the Philippines is called PROPERTY VALUE. When you invest on a project at pre-selling stage (buying the property while under construction) you have the opportunity to own the property at introductory price, affordable payment terms and more units available to choose from. The value of the property increases as the delivery date draws near. Upon completion, your P3M investment today may escalate to P5M to P6M upon delivery of the project.

Another income you will benefit from real estate properties is called RENTAL INCOME. “Rental from properties is stable source of monthly income. As unit owner, your property generates income every month approximately 1% of your present property value.

Here in International Real Property Exchange (IRPeX) - your Real Estate Partner for Philippine Property Investment, we can help you…IRPeX is the leading Philippine Real Estate website which takes pride on managing major properties all over the Philippines. IRPeX contains wide range of searchable location of properties from Manila to Baguio, Luzon, Visayas or even in Mindanao. IRPeX is a real estate website that has unique insight on Philippine properties that would be willing to help you find the property that you want to have.

For more information about International Real Property Exchange, please Contact Us.

Buyers Guide: Philippine Real Estate Laws

3:20 AM

Filipino Citizens

Only Filipino citizens and corporations (at least 60% Philippine-owned) are entitled to acquire land in the Philippines.

Non-Filipinos

Non-Filipinos can acquire a Philippine real estate property if he/she has a Filipino partner. Either both partners share the property with equal rights, or the partner owns 51% or more and the remainder is owned by the non-Filipino partner.
Non-Filipinos can likewise acquire Philippine real estate if he/she has a Filipino spouse who can make the purchase.
Special visas are available for non-Filipinos who want complete and total control of a Philippine real estate property like condominiums and townhouse units. Qualifications for this visa are as follows:
Applicant must be at least 35 years old.
Applicant should meet the bank deposit requirements which can be withdrawn at a later date for your investments.
Owning of houses or buildings is possible as long as the non-Filipino does not own the land on which the house is built.The land can be leased by the foreigner on a long term contract, and the house can be legally his.
As an exception to this rule, a foreign acquisition of a Philippine real estate is allowed in the following cases:
Acquisition before the implementation of the 1935 constitution.
Acquisition through hereditary succession if the foreign acquire is a legal or natural heir. This simply means that when the non-Filipino is married to a Filipino citizen and the spouse dies, the non-Filipino as the natural heir will become the legal owner of the property. The same is true for the children. Every natural child (legitimate or illegitimate) can inherit the property of his/her Filipino father/mother even if he/she does not any Filipino citizenship.
Purchase of not more than 40% interest in a condominium project.
Purchase by a former natural-born Filipino citizen subject to the limitations prescribed by law.
Filipinos who are married to aliens who retain their Filipino citizenship, unless by their act or omission, they have renounced their Filipino citizenship.

Dual Citizens

Dual citizenship means having two citizenships and passports from two different countries. Dual citizenship allows the citizenship holder full rights of possession of Philippine real property. This is a new law and it is still unclear as to the procedures involved to implement it. Dual citizenship is now available for the following:
Former Filipino citizens born in the Philippines, who have immigrated to another country and obtained citizenship of that country.
A foreign spouse married to a Filipino citizen.

Former Filipino Citizens

Former natural-born Filipino citizens, a.k.a. "balikbayans," are entitled to own a maximum of 1,000 square meters of residential land and one hectare of agricultural or farm land.
For business purposes, a maximum of 5,000 square meters of urban land or three hectares of rural land is allowed by law. In the case of married couples, one or both of them may avail of the privilege provided that if both avail, the total area acquired shall not exceed the maximum.
In the case of a transferee already owning an urban or rural land for business or other purposes, he/she shall still be entitled to be a transferee provided that when added to those already owned by him/her shall not exceed the maximum.

Non-Filipino Married to a Filipino Citizen

If holding title as an individual, a typical situation would be that a foreigner married to a Filipino citizen would hold title in the Filipino spouse's name. The foreign spouse's name cannot be on the Title but can be on the contract to buy the property. In the event of death of the Filipino spouse, the foreign spouse is allowed a reasonable amount of time to dispose of the property and collect the proceeds or the property will pass to any Filipino heirs and or relatives.

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

A foreign national and or corporation may enter into a lease agreement with Filipino landowners for an initial period of up to 50 years and renewable for another 25 years.

Note: This document is for information purposes only. The user assumes all risks for its use. International Real Property Exchange assumes no responsibility for such use.

Special Resident Retiree's Visa

10:17 PM

SRR VISA

2010-08-18

Under the Presidential Executive Order No. 1037 (also known as PRA Charter), the Philippine Retirement Authority is mandated to make available a comprehensive and attractive retirement package for potential foreign retirees who seek an easy and comfortable lifestyle. With this in mind, the PRA is committed to provide its retirees a wholistic retirement environment.

The SRRV Application Process

In order to apply for the SRR Visa, you may visit the PRA One Stop Shop center at the 29th Floor, Citibank Tower, Paseo de Roxas, Makati City, Philippines. You may secure an SRR Visa application form and also apply for the National Bureau of Investigation (NBI) clearance. You may likewise obtain a schedule for your medical exam. Our staff will then evaluate and process your application when these documents are submitted. For SRR Visa Enrollment Options.

Once these documentary requirements are met, and the necessary fees settled, the endorsement of the SRR Visa application is prepared and sent to the Bureau of Immigration for approval. The approval of the SSR Visa normally takes 5 to 7 working days. Once the SRR Visa is approved, then the PRA ID card is issued. This card will serve as the Alien Certificate of Registration (ACR) which exempts the bearer from the Annual Registration requirement, Exit Clearance and Re-entry Permit, and from the application of the I-card as otherwise required by the Bureau of Immigration.

Benefits

Once you are an SRRV Visa holder, it opens the door to vast opportunities and benefits. These include:

1. Option to Retire Permanently

You may live, work and study in the Philippines

2. Multiple Entry Privileges

You may travel outside the Philippines and re-enter anytime

3. Exemptions from:

Income tax over your pension and annuities;

Exit and re-entry permits of the Bureau of Immigration;

Annual registration requirement of the Bureau of Immigration;

Customs Duties and Taxes with regard to the importation of household goods and personal effects up to US$7,000.00;

Travel tax, if you stay in the Philippines is less than one year from the last entry date; and

I-Card

As an SRR Visa holder, the PRA can assist you in obtaining basic documents from other government agencies. These include, but are not limited to:

Alien Employment Permit

Driver's License

Tax Exemption/Extension Certificate

Tax Identification Number

National Bureau of Investigation (NBI) Clearance

Enrollment Options

A retiree who applies for a Special Resident Retiree Visa (SRRV) has the option to enroll to the program based from his retirement status.

Retirement Option and their Required Time Deposit

1. With Pension – 50 years. Old and above – the required time deposit is US$10, 000.00 plus a monthly pension of US$800.00 for a single applicant and US$1,000.00 for couple

2. Without Pension

35 to 49 years old – US$50, 000.00 time deposit
50 years old and above – US$20, 000.00 time deposit
Former Filipino Citizens (at least 35 years old, regardless of the number of dependents – US$1,500.00)
Ambassadors of foreign countries who served and retired in the Philippines, current and former staff members of international organizations including ADB (at least 50 years old) - US$1,500.00

3. A resident retiree can bring with him, without additional deposit, his spouse and a child who is unmarried and below 21 years old or if the spouse is not joining, two (2) children (provided they are unmarried and under 21 years of age.) Additional children with the same qualifications may also be allowed to join the principal retiree provided there is an additional deposit of US$15,000.00 per child. The said time deposit however, is subject the same and conditions with that of the principal deposit. This does not apply to former Filipino Citizens.

Eligibility

Former Filipino citizens and foreign national except those classified as restricted by the Philippine Department of Foreign Affairs and the Bureau of Immigration are eligible to apply for the SRR Visa. Also, he or she should be:

At least 35 years old

Without criminal record

Meeting medical standards

Meeting the investment requirement

Documentary Requirements

PRINCIPAL RETIREE APPLICANT

   1. Duly accomplished SRRV Application Form.
   2. Original Passport with Valid Entry Visa
   3. Medical Examination Clearance

Can be secured abroad (with English translation) duly authenticated by the Philippine Embassy/Consular Office.

Can also be secured in the Philippines at the PRA One-Stop Service Center or at any clinic/hospital.

4. Police Clearance and National Bureau of Investigation (NBI) Clearance

Police Clearance only, for retiree-applicants whose stay in the Philippines is thirty (30) days or less from date of last entry, which must be secured from the applicant’s country of origin (with English translation) duly authenticated by the Philippine Embassy or Consular Office.

Police Clearance (from the applicant’s country of origin) and National Bureau of Investigation (NBI) Clearance for retiree applicants whose stay in the Philippines is more than 30 days from date of last entry.

5. ID Pictures - twelve (12) pieces of 2"x2"
6. Bank Certificate of Time Deposit Inwardly Remitted to any PRA Accredited Banks

A retiree applicant is required to remit deposit through telegraphic transfer to any PRA Accredited Banks (download telegraphic transfer form)
Non-Withdrawability of Retiree’s Deposit – The Retiree’s deposit or account shall not be withdrawn by the retiree for the duration of his participation in the Program and the depository bank shall not allow such withdrawal except upon proper notice or approval by the PRA.
However, the interest earning of the Time Deposit is withdrawable without PRA clearance.

7. Fees:

US$1,400.00 application fee or equivalent Philippine Peso. (one time)
The Application Fee is non-refundable

ADDITIONAL REQUIREMENTS FOR PRINCIPAL RETIREE APPLICANTS UNDER THE WITH PENSION PROGRAM:

Certification of Retirement Benefits issued by the concerned government and/or private entity which clearly states your identity, date of effectivity of the payment of pension and the amount of monthly pension; and
Proof of your monthly pension remitted to the Philippines.

NOTE:
ALL DOCUMENTS OBTAINED / ISSUED ABROAD MUST HAVE AN ENGLISH TRANSLATION DULY AUTHENTICATED BY THE PHILIPPINE EMBASSY / CONSULAR OFFICE.

SPOUSE

Duly accomplished SRRV Application Form.
Original Passport with Valid Entry Visa
Medical Examination Clearance

Can be secured abroad (with English translation) duly authenticated by the Philippine Embassy/Consular Office. If the applicant is in the Philippines, it can be secured at the PRA One-Stop Service Center or at any clinic/hospital

4. Police Clearance and National Bureau of Investigation (NBI) Clearance

Police Clearance only, for retiree-applicants whose stay in the Philippines is thirty (30) days or less from date of last entry, which must be secured from the applicant’s country of origin (with English translation) duly authenticated by the Philippine Embassy or Consular Office.
Police Clearance (from the applicant’s country of origin) and National Bureau of Investigation (NBI) Clearance for retiree applicants whose stay in the Philippines is more than 30 days from date of last entry.

5. ID Pictures - twelve (12) pieces of 2"x2"
6. Marriage Certificate or in its absence, any of the following:

For Koreans & Japanese - Family Register/Domicile
For Taiwanese - Household Register
For P.R.O.C. Chinese - Certificate of Relationship
For Japanese - Koseki Tohon

7. Fees:

US$300.00 application fee or equivalent Philippine Peso (one time)
The Application Fee is non-refundable

NOTE:
ALL DOCUMENTS OBTAINED / ISSUED ABROAD MUST HAVE AN ENGLISH TRANSLATION DULY AUTHENTICATED BY THE PHILIPPINE EMBASSY / CONSULAR OFFICE.

DEPENDENT/S

   1. Duly accomplished SRRV Application Form.
   2. Original Passport with Valid Entry Visa
   3. Medical Examination Clearance

Can be secured abroad (with English translation) duly authenticated by the Philippine Embassy/Consular Office. If the applicant is in the Philippines, it can be secured at the PRA One-Stop Service Center or at any clinic/hospital

4. Police Clearance and National Bureau of Investigation (NBI) Clearance(applies only for 18yrs. old and above)

Police Clearance only, for retiree-applicants whose stay in the Philippines is thirty (30) days or less from date of last entry, which must be secured from the applicant’s country of origin (with English translation) duly authenticated by the Philippine Embassy or Consular Office.
Police Clearance (from the applicant’s country of origin) and National Bureau of Investigation (NBI) Clearance for retiree applicants whose stay in the Philippines is more than 30 days from date of last entry.

5. ID Pictures - twelve (12) pieces of 2"x2"
6. Birth Certificate or in its absence, any of the following:

Family Register/Domicile (for Koreans & Japanese)
Household Register (for Taiwanese)
Certificate of Relationship (for P.R.O.C. Chinese)
Koseki Tohon (for Japanese)

7. Fees:

US$ 300.00 application fee or equivalent Philippine Peso(one time)
The Application Fee is non-refundable

8. Additional Dollar Deposit

For every additional dependent (in excess of two) an additional US$15,000.00 deposit under the name of the Principal, shall be required per dependent except for former Filipino citizens.

NOTE:
ALL DOCUMENTS OBTAINED / ISSUED ABROAD MUST HAVE AN ENGLISH TRANSLATION DULY AUTHENTICATED BY THE PHILIPPINE EMBASSY / CONSULAR OFFICE.

Members Obligations

1. Yearly renewal of the PRA ID Card

Retirees may request for a 3-year validity of the ID card upon the accomplishment of a Deed of Undertaking that the required deposit will remain in the bank for another 3 years.

2. Payment of Annual Visitorial Fee

Retirees are obliged to pay the annual visitorial fee and submit specific documents if the required deposit has been converted into active investment.

3. Notification of Changes in Personal Information