05-05-2005 23:00									#1
	In the Philippines foriegners can't own property... Suffering from ads?

Is this a good policy for the Filipinos? It limits the amount of $ the Phils take in and real estate booms don't happen too much, but the people can still afford property. Do other countries have this policy?

	05-05-2005 23:02									#2
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Mexico does.

	05-05-2005 23:07									#3
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"Mexico does."

Right! I read a book about retiring to Mexico for $400 a month...years ago. They devoted a chapter to not getting ripped off in real estate. I guess alot of people paid alot and got screwed...

	05-05-2005 23:08									#4
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It is that way over most of the world, the notable exception being the United States of America.

	05-05-2005 23:10									#5
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Mexico does only in certain areas, and there are legal ways around it, such as long term land leases coupled with condo style purchases where you own the improvements on the land, but not the land itself.

I think it's a good idea for the Phillipines - the downside is that there's a limit to what some owners can make, but the upside is you limit the opportunities for cash rich foreign speculators to come in, buy all the desirable property and distort the market for everyone else, if not create a bubble that screws the market (and the locals) for years.

	05-05-2005 23:16									#6
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Whoha, is that true? Can you not buy proerty in Germany or Italy for instance? I wonder if you can buy property in China?

MtG, I agree that it's good for the people. I guess a foriegner could lease in the Phils...most of the guys married to Filipinas put everything in the wife's name. That's what we did. Problem becomes when your wife becomes an American citizen as Dolores is now. They fixed that by allowing duel citizenship for expats. They do that in Mexico?

	05-05-2005 23:33									#7
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You may be able to buy property in Europe. Probably not in China though,their laws on Businesses require tech transfers and that Businesses be soley export oriented to be able to own property there.

And the policy is generally a good idea. Dual ctizenship opens up a whole bag of worms though.

	05-05-2005 23:34									#8
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The US is the country most hung up about dual citizenship. AFAIK, Mexico has no problems with private citizens holding dual citizenship as adults. (Even the US doesn't get worked up over dual citizenship for kids, but when you turn 18, it's a problem.)

Another thing is that you can have different citizenship status according to each country's laws, so the Phils might consider her to be dual, while the US considers her to be US, etc.

	06-05-2005 00:14									#9
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"so the Phils might consider her to be dual, while the US considers her to be US, etc."

This is interesting. A friend of Dolores's already has duel citizenship so I guess it will work for everyone in some manner. I'd love to get duel citizenship with the Phils myself. Have you ever heard of such a thing Mike? Americans getting duel with Mexico?

"Probably not in China though,their laws on Businesses require tech transfers and that Businesses be soley export oriented to be able to own property there"

Whoha, this kind of stuff is why the Chinese are eating our lunch!

	06-05-2005 00:17									#10
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quote: Originally posted by Lancer "so the Phils might consider her to be dual, while the US considers her to be US, etc." This is interesting. A friend of Dolores's already has duel citizenship so I guess it will work for everyone in some manner. I'd love to get duel citizenship with the Phils myself. Have you ever heard of such a thing Mike? Americans getting duel with Mexico?

I don't know if it's possible, but under US law, if you naturalize to another country, that is grounds for revocation of your US citizenship. If it was possible, I don't know who'd want to, since you'd put yourself squarely under the taxing authority of Mexico, rather than being able to milk the expat exemption and avoidability of state taxes in the US.

	06-05-2005 00:23									#11
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"I don't know if it's possible, but under US law, if you naturalize to another country, that is grounds for revocation of your US citizenship."


Don't want that!

"If it was possible, I don't know who'd want to, since you'd put yourself squarely under the taxing authority of Mexico, rather than being able to milk the expat exemption and avoidability of state taxes in the US."

Excellent points! This must be why alot of US citizens live just across the border... I heard too that alot of electricity flows north. Did you do that Mike? Are you saving California from itself?

	06-05-2005 04:27									#12
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quote: Originally posted by Whoha It is that way over most of the world, the notable exception being the United States of America.

Uh...bullshit.

	06-05-2005 04:45									#13
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how so KH? Do you mean that I could actually own land in say... Zimbabwe? Or do you mean that we in the US don't allow foreign ownership of property?

	06-05-2005 04:49									#14
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I mean that you can own property as a foreign citizen in Western Europe, Japan, Canada, Australia, New Zealand...

	06-05-2005 06:23									#15
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quote: Originally posted by MichaeltheGreat I think it's a good idea for the Phillipines - the downside is that there's a limit to what some owners can make, but the upside is you limit the opportunities for cash rich foreign speculators to come in, buy all the desirable property and distort the market for everyone else, if not create a bubble that screws the market (and the locals) for years.

A better idea would be to permit individual foreigners (not corporations) to buy a limited amount of land, say an acre. This would bring in retirees and vacationers, who'd then spend

	06-05-2005 07:37									#16
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Sounds like a great idea Zkrib, but I'm a bit biased.

	06-05-2005 08:17									#17
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In China, foreigners can't own land, but the locals can't either.

In the other nations, can foreign corporations own land?

	06-05-2005 08:18									#18
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As usual, us Danes have the upper hand. And this time in a rather ultimate fashion. In Greenland, nobody can own real estate, not even the Greenlanders. You can get some land alloted and build a house on it, but you can never own the land.

I only recently found out this was so, and it surprised me quite a bit. The main reason seems to be that there's no tradition of land ownership among Greenlanders, and there's no real incentive for them to change a system that seems to work fine as it is.

	06-05-2005 08:20									#19
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So in China the government owns everything? Sounds very communist! I thought they were becoming capitalist...

"In the other nations, can foreign corporations own land?"

A good question. Otherwise why would anyone build a factory they can't own?

	06-05-2005 08:23									#20
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Winston, so building the house gives them rights to the property? Or is it because its alloted to them? What if you don't like the land the government allots? Can you sell it? Can you buy a better one?

	06-05-2005 08:23									#21
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Filipinos neither.

	06-05-2005 08:39									#22
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I have to admit I don't have a lot of detailed knowledge of the Greenlandic system, but it's my understanding that you apply for permission to build a house in a certain spot and then you gain only the right to use that particular spot for housing purposes. No ownership of the land itself. So while I suppose you could sell the house if you decided to move, the land would still belong to "nobody".

I guess one advantage is you can't get shot for trespassing this way.

Plus if everyone is accustomed to the way the system is and has always been, it's hard to see it leading to any problems. After all, with a population of ~50,000, land shortage is not the main problem they have to deal with.

	06-05-2005 08:43									#23
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Whatever works. I'd worry about them removing my right to use the property if they wanted to. I like my property rights...

	06-05-2005 09:27									#24
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quote: Originally posted by KrazyHorse I mean that you can own property as a foreign citizen in Western Europe, Japan, Canada, Australia, New Zealand...

Which, of course leaves about 4/5th of the world as a remainder...

	06-05-2005 09:32									#25
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quote: I mean that you can own property as a foreign citizen in Western Europe, Japan, Canada, Australia, New Zealand...

I don't know about property, but I know you can't own some businesses as a foreigner in Japan.

	06-05-2005 09:42									#26
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quote: Originally posted by DanS Which, of course leaves about 4/5th of the world as a remainder...

And not leaving the US as the "1 notable exception"...

	06-05-2005 09:43									#27
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quote: Originally posted by Drake Tungsten quote: I mean that you can own property as a foreign citizen in Western Europe, Japan, Canada, Australia, New Zealand... I don't know about property, but I know you can't own some businesses as a foreigner in Japan.

Any in particular?

	06-05-2005 09:44									#28
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quote: Originally posted by KrazyHorse And not leaving the US as the "1 notable exception"...

Oh, so now these places are instantly notable?

	06-05-2005 09:45									#29
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I don't know about owning property, but its a very big pain in the ass for a foreigner to get a business liscense in Korea, same for a lot of Korean companies to give foreigners work visas, they have to prove that no Korean can fill the job or somesuch (except with us English teachers, we're a separate visa category).

	06-05-2005 09:45									#30
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You don't think that the existence of Western Europe is notable?