Author: BWorld 5/28/2007

By 5 a.m., the Zobel brothers are already up, perusing the latest news from around the globe, catching up on paperwork, and reading reports. When a detail needs to be clarified, it is not uncommon for them to send a text message to their managers asking if it's OK to call -- a small habit that implies an awareness that the rest of Ayala corporation does not run on their time, even if they head the country's largest conglomerate. "They're gentlemen down to their fingertips," said Victoria Garchitorena, Ayala Foundation, Inc. president, who remembers that when her office was located at the Ayala Museum , she was rarely summoned by the brothers to their offices when they wanted to meet. "They would walk from their office to mine, it was no skin off their nose. And I guess they also knew that it was good for the foundation staff to see them once in a while." Even before corporate social responsibility (CSR) was pushed into the limelight, the brothers already wanted Ayala's core business competencies to contribute to the greater good, "The full flowering of that idea is doing business at the bottom of the pyramid," said Ms. Garchitorena. Manila Water's "Tubig Para sa Barangay," and Globe Telecom's Bridging communities (BridgeCom) program are two concrete examples of how Ayala-led companies have CSR projects that are congruent to their business plans. "That's the perfect situation because your business goals and your social development goals are aligned." "One of the things that make them different from other owners or CEOs is that they're so eager to learn from everyone. They're not know-it-alls or the 'listen-to-me-and-I'll-tell-you-what-you-need-to-do' type," said Ms. Garchitorena. During management meetings, neither Jaime nor Fernando will hesitate to ask questions when they don't quite get what's being said. "They really have deep respect for their management team. They're open to ideas and they also have the humility and the self-confidence to say, 'Wait a minute, I don't understand. Please explain.'" Ms. Garchitorena added that the brothers share the same sense of humor, which manifests itself in the form of tricks, teasing, and verbal repartee, in turn, they're also willing to be the object of jokes. Jaime and Fernando always present a united front when it comes to Ayala Corporation. Although they may initially have different ideas, they are committed to threshing things out until they reach a decision that is amenable to both of them. And once that decision is reached, they support each other all the way. The Zobels possess a winning combination of good genes and a good upbringing. Ms. Garchitorena credits Don Jaime and Bea Zobel, Jaime and Fernando's parents, for the brothers' shared work ethic and down-to-earth demeanor. "They didn't feel that they were entitled to all these privileges because they were Zobels. They're very hardworking," she said. For example, when Jaime was a child, he sent his mother a letter apologizing for the extra cost that they would be burdened with because he had enrolled in an additional class; Ms. Garchitorena believes it was gardening. "He had no idea how wealthy they were. I thought that was so telling of how they were brought up. They don't take things for granted. I think that's indicative of why they are what they are now," she said. Asked to expound, Ms. Garchitorena replied: "They're good looking, they're intelligent, they're articulate, they're rich, they're successful, they're charming, they're disciplined, they're sincere and honest, they're generous, they're good sons and husbands and fathers, and they have a heart for the poor. Need I say more?"

Labels: Alveo Land, Ayala Land, Bonifacio Global City, Canlubang, condominium for sale, for rent, fort bonifacio, house for sale, Meranti, Nuvali, One Serendra, Sequoia, Serendra, Tagaytay, Two Serendra

Movie theaters, fashion boutiques, cafés, video game arcades and all other types of entertainment and diversions come to us easily. But while all these distractions are positive fruits of a modern and ever-evolving society, these should never take the place of personally interacting with family and friends.




Where Space Brings People Closer

When you hear the word "space," the image that probably comes to mind is an empty area or gaps. But with The Meranti at Two Serendra, Alveo Land's third and newest phase of its high-rise development in Fort Bonifacio Global City, the word "space" has come to mean the something different entirely.

Interaction and the pursuit of life's many pleasures are the focus of The Meranti. Featuring Two Serendra's trademark of lush greens, as well as a highly thematic aesthetic, The Meranti offers residents an ideal environment where they can share time, conversation and even fun with family, old friends and new neighbors. Well-designed units allow for a comfortable setting for enjoyable family talks and activities as well as a place for intimate parties with friends and relatives. This inherent social equity is extended beyond the front door. The Meranti's different social zones, located within thedevelopment's Living Museum, also provide residents with the perfect venues for interaction.
For more info, email us at: twoserendra@myserendra.com



Where Connections Are Made

Foodies can indulge their culinary calling and entertain guests at The Culinary Studio, which features a fully equipped, professional-grade kitchen and grill area as well as a cozy dining room. Nature lovers, on the other hand, may relax in the peaceful serenity of the lush verdure and flowers of The Meranti's Tropical Garden, a virtual paradise enclosed in glass. The Tropical Garden is also an ideal venue for big and memorable events, gatherings and a romantic setting for intimate walks. Holding casual meetings or brainstorm ideas with contemporaries take on a different, luxurious spin at the Enterprise Lounge, a business facility that provides a bar, a chiller, a pool table and even a flat-screen television for after-work bonding sessions. Learning, growing and interacting with children and other members of the family can be enjoyed at The Discovery Hall, which also provides a cozy library and a lounge with WiFi connection, so residents can research or catch up with neighbors. The Stellar Peak is another ideal place to talk with friends or chill out with your loved ones at night. This comfortable, landscaped rooftop deck offers an amazing view of the Manila sky--the perfect venue for a romantic rendezvous.


 For more info, email us at: twoserendra@myserendra.com

Outside The Meranti, one can find even more places and areas conducive for interaction and bonding. Restaurants at Serendra offer a variety of cuisines for a delectable dinner with family, while cafes give you venues for intimate conversation with close friends.
Although we do have all the leisure and entertainment options open to us, we shouldn't lose sight of what is really important--our ties with our family and our friends. At The Meranti, you can enjoy all the pleasures that the modern world has to offer while talking, interacting and keeping in touch with peers and loved ones.
The Meranti at Two Serendra
Alveo Land Corp. sets the benchmark for innovation in Ayala Land. Armed with sharper foresight, unparalleled excellence and total commitment, Alveo Land Corp. is a real estate company that doesn't just find the means to provide the most innovative homes, it looks for ways to make you live the life you deserve.

For more info, email us at: twoserendra@myserendra.com

Labels: Alveo Land, Ayala Land, Bonifacio Global City, Canlubang, condominium for sale, for rent, fort bonifacio, house for sale, Meranti, Nuvali, One Serendra, Sequoia, Serendra, Tagaytay, Two Serendra

Party in Paradise
Man, it has been stated time and time again, is a social being. His growth and development is greatly helped by the interactions with the people he loves, respects and cares for, as well as the new friends he makes throughout his life. That being said, there is no other richer environment for socialization and interaction than get-togethers—from intimate tête-à-têtes with close friends to fun-filled celebrations with a larger group of people.

Interestingly enough, just like good wine is largely dependent on the terroir (to quote another French word) in which grapes are grown, an excellent and successful party or gathering is also influenced by the setting in which it is held. And, with themed gardens, reflective ponds, function rooms and social halls, Two Serendra has definitely created ideal venues for socializing and interacting with friends, family, business associates and neighbors. Located in the bustling Bonifacio Global City, Alveo Land's latest high-rise condominium development gives you a home within a community that fosters friendships and builds ideal places for interaction and gatherings. Three different, well-design buildings (The Aston, The Red Oak and The Meranti) offer various spaces to hold your perfect party.

Hold Affairs to Remember at The Aston

Spend quality time with your family through casual barbeques at The Aston at Two Serendra. Enjoy the cluster's glorious water features and reflecting ponds and let your kids interact with your neighbors as they play in the river boat, which is docked by a splash pool or the fun tree house. Sculptural fountains surrounding the children's pools create thrilling venues for exciting experiences, which your kids will definitely remember fondly as they grow older.

Enhance Your Body, Mind and Spirit at The Red Oak

With a relaxing ambience enhanced by suburban open spaces and refreshing water elements, The Red Oak creates an ideal environment to pursue a completely healthy and peaceful life. With body spa pavilions, meditation gardens, floating cabanas as well as walking paths and dance or exercise studios, The Red Oak gives residents various options wherein each one can pursue total wellness-be it within the body, mind or spirit.

This translates to conducive areas for small-knit gatherings surrounded by a peaceful environment, enhanced by the camaraderie of guests. Hold small bridal or baby showers within the pavilions or celebrate your birthday with a unique wellness theme by treating your close friends to a yoga session at the exercise studios. The Red Oak helps you create one-of-a-kind tête-à-têtes that promote health, wellness and togetherness.

Celebrate Life at The Meranti

Hold elegant affairs, like debuts and wedding anniversaries in the Tropical Garden of The Meranti at Two Serendra. Featuring a lush, well-landscaped garden enclosed in glass, the Tropical Garden provides the perfect backdrop for stylish parties and exquisite soirees. Plan an elegant affair with delectable cocktails and food or exquisite wine and cheese pairings while enjoying the company of friends and relatives in a glass paradise. Engage your friends in a little astronomy, as well, at the Stellar Peak, a landscaped rooftop deck that offers a breathtaking view of the night sky, creating a cozy setting for chill-out shindigs complete with yummy canapés and cocktails or more informal bashes with ice-cold beer and chips.

Good wine, company and conversation, most say, create the perfect ambience for a great party. And just as climate, soil type and topography produce an ideal terroir for excellent wine, The Aston, The Red Oak and The Meranti of Two Serendra offer gorgeous and exquisite landscapes, huge trees, water gardens, open lawns, as well as ponds and streams, create your own party paradise that is close to home.

Labels: Alveo Land, Ayala Land, Bonifacio Global City, Canlubang, condominium for sale, for rent, fort bonifacio, house for sale, Meranti, Nuvali, One Serendra, Sequoia, Serendra, Tagaytay, Two Serendra

Taking its place at the heart of the "Home of the Passionate Minds" in BGC,High Street South will soon become BGC's Cultural District.

BGC comprises the country's first world class science museum, public art, and interactive sculptural elements that reconnect you to the country's rich history and culture.

Alongside are top corporations that offer great opportunities for vibrant careers, lush expansive parks, and a football field where you can keep an active lifestyle.

Feel like true citizen of the world as High Street South celebrates creativity and possibility.

High Street South Block will be on eight parcels of land to create a world renown destination of community and commercial areas. Thoughtfully zoned areas highlight integrated features of the district.

Two Maridien will be located at the center of the action. The buildings are located at the central block of High Street South with direct views of two prominent parks at the heart of BGC.

The main park is created for families and children to explore their creativity and is surrounded by galleries, theaters, dance halls, music lounges and jazz clubs.

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Two Maridien presents a rare opportunity for you to make the best out of your city life. As the second tower in High Street South, it promises to feature prime qualities of residential living.


Need more info? Suggestions / comments?

Email us at twomaridien@myserendra.com

Labels: Alveo Land, Ayala Land, Bonifacio Global City, Canlubang, condominium for sale, for rent, fort bonifacio, house for sale, Meranti, Nuvali, One Serendra, Sequoia, Serendra, Two Maridien, Two Serendra

Timeless Tagaytay Experience
A low density residential condo where you can rediscover the spaces, connecting with your surroundings, with friends, families, and with yourself. It is all about touching lives.

Quiet Tagaytay Location
Tagaytay Calamba Road, San Jose, Tagaytay City. Fronting Estancia Hotel, around 1.3 kilometers away from the rotunda

Masterplanned for Natural Living
An intimate cluster of low-rise condos on lush natural terrain made over 80% open spaces, parks, roadways and amenities.

Relaxed and Effortless Condo Lifestyle.
A Low density community with views of amenities, refreshing indoor and outdoor spaces, features custom made for leisure.

Quaint Retail Setting
Quaint destinations for leisurely, natural pursuits. Alfresco boutiques and bistro row to compliment the Tagaytay experience

Spacious Units Planned for a Leisure Condo Experience
Kasa Luntian will be a low-rise and low-density community with 5-7 floors per building and 11 units per floor.

Amenities Inspired by Nature
True to its leisure proposition, the ambience within the development will be relaxed and casual, filled with lush and naturally landscaped open spaces and amenities geared toward passive recreation, family gatherings, and laid-back social encounters amid tranquil mountain atmosphere.


Need more info? Suggestions / comments?

Email us at kasaluntian@myserendra.com

Labels: Alveo Land, Ayala Land, Bonifacio Global City, Canlubang, condominium for sale, for rent, fort bonifacio, house for sale, Meranti, Nuvali, One Serendra, Sequoia, Serendra, Tagaytay, Two Serendra

Bonifacio High Street Serendra truly epitomizes the spirit of Bonifacio Global City and the balanced live-work-play lifestyle it encourages. Pioneering the concept of mixed-use developments in a unique main street setting, Bonifacio High Street is comprised of nearly a kilometer long landscaped park with restaurants and retail stores on the first floor, and offices on the second floor -- including large and pioneering companies like Del Monte Philippines and BayanTrade to name a few. The calm scenery has an obviously uplifting and relaxing effect on the office workers of Bonifacio High Street. "I love coming to work!" asserts Michelle Dabuet, Marketing Head for BayanTrade. "We actually encourage our employees to bring their family members," adds Dante Briones, President and CEO for BayanTrade. The park features family-friendly interactive artworks that encourage thinking and exploration. This unique experience becomes a strong factor for drawing people to the location. "Bonifacio High Street attracts people from as far as Quezon City in the north, and Alabang plus other areas further south." says Jun Bisnar, Head of Commercial Operations for Fort Bonifacio Development Corporation (FBDC). [caption id="attachment_129" align="alignnone" width="300"] MySerendra.com | Bonifacio High Street Balanced rock fountain photo near Ayala Serendra[/caption] Bonifacio High Street sets the stage for a balanced lifestyle that is conducive to mental and physical well-being. While mostly urban in nature, the pace of work and life is manageable, or as aptly stated by Marivic Anonuevo, Group Head for Corporate Business of Ayala Land, "It's fast-paced but Bonifacio High Street provides more stress breaks and relievers." Live, Work, Eat! At Bonifacio Global City , dining has come to mean more than the typical hour-long break. In this city, the dining experience provides another opportunity for residents, tenants and visitors alike to bask in the relaxed aura of Bonifacio Global City . From the high-energy spots of The Fort Square to new dining establishments in Bonifacio High Street , Bonifacio Global City will never fail to disappoint varied tastes. CJ Jesena, Senior Division Manager for the Ayala Malls Group, describes some of the unique culinary spots of Bonifacio High Street. "Mary Grace which started as a kiosk in malls, opened their first cafe in Serendra, Bonifacio High Street called Cafe Mary Grace," Jesena explains. "From the L'Opera group, they opened Balducci, which features a more casual, rustic and laid-back feel." Larry J. Cruz opened two restaurants, including Larry's Cafe & Bar, which offers light dining and Abe Restaurant, which specializes in Kapampangan fare. Further down Bonifacio High Street you'll find Texas Roadhouse Grill and Mini Shabu-Shabu -- just two of the many unique restaurants which have recently opened. Proposing this unique dining concept to owners of restaurants and cafes was met with positive response. "Anna Rocha (owner of Tatami] loved the concept while Larry Cruz saw the opportunity," he says, proudly. Wired and Ready to Go 2012 Ongoing developments at Ayala Alveo land Serendra Fort Bonifacio Global City As the country's next premier CBD, Bonifacio Global City is fully equipped with amenities that encourage the wireless lifestyle. At par with the technological-savvy of the modern urbanite, several areas in Bonifacio Global City are Wi-Fi hotspots, allowing for high-speed internet surfing -- an unquestionable tool in this era of efficient technology. Moreover, plans to fully wire the city are underway and soon enough, internet surfing will be possible at any point within the territory. Complementing the technological advancement is the fact that a 25-hectare portion of Bonifacio Global City is a PEZA-accredited IT Zone. As an IT Zone, Bonifacio Global City locators enjoy generous government incentives like tax holidays and other benefits," says Henry Yap. Head of Property Planning and Design for FBDC. "It is also easier for foreign companies to bring in their foreign executives because of the ease in obtaining work permits. The companies or locators also get tax incentives when they purchase land or export products," Yap explains.

Labels: Alveo Land, Ayala Land, Bonifacio Global City, Canlubang, condominium for sale, for rent, fort bonifacio, house for sale, Meranti, Nuvali, One Serendra, Sequoia, Serendra, Tagaytay, Two Serendra

Here are some renderings from the soon to be launched, ONE GLOBAL PLACE in Fort Bonifacio Global City! From the developers of Taipan Place, Orient Square and Regent Parkway comes... Located at Fifth Avenue corner 25th Street near Essensa, Regent Parkway, Hyundai showroom Ground Floor tenant will be BPI The second to 7th floor will be parking levels. Main entrance to OGP will be at 25th street with a planned two-way lane. As with all Daiichi Properties projects, this building will have 100% full back-up power! 5 state of the art lifts Unitized Curtain Walls - Solar Reflective and Energy Efficient Mulit-carrier communication lines ONLY 6 office units to a floor with a minimum 130sqm cut. Introductory price will be around P88,000 tp P95,000/sqm to think that this will be pure office units and along the main road! :) Smallest office unit has an area of 130sqmFloor plate is 1000sqm Proposed turnover date is first quarter 2010 BUT Daiichi will target a December 2009 finish. PEZA accreditation in process. for more info, email us at oneglobal@pinoybroker.com

Labels: fort bonifacio, global city, net one, one global place

Labels: Alveo Land, Ayala Land, Bonifacio Global City, Canlubang, condominium for sale, for rent, fort bonifacio, house for sale, Meranti, Nuvali, One Serendra, Sequoia, Serendra, Tagaytay, Two Serendra

BUYING OR LEASING REAL PROPERTY

Ownership of real property

Buying real property (land, building, house, condominium unit, town houses, warehouse, etc.) is a major financial undertaking and buyers/investors should proceed with extreme caution. As a general rule, foreigners are restricted from ownership of land. However, a corporation , which is 40 percent owned by foreigners and 60 percent by Filipino citizens is considered a Philippine national and is therefore allowed to acquire land.

Foreigners re allowed to acquire condominium units and any improvements constructed on the land. However, one disadvantage of course of this limitation is that without ownership of the land, a businessman can hardly obtain loans or financing from the local banks. Banks, in general, will lend money only with real property for security. The restriction on land ownership has long been the subject6 of debate and is the single most important factor that restricts the flow of investment in the country. Liberalization of investment is expected to continue with the Philippines being integrated slowly to the global economy. With this, we expect that the land ownership, eventually will be opened to foreigners.

The restriction on land ownership has long been the subject6 of debate and is the single most important factor that restricts the flow of investment in the country. Liberalization of investment is expected to continue with the Philippines being integrated slowly to the global economy. With this, we expect that the land ownership, eventually will be opened to foreigners.



Registered or Titled Land vs. Unregistered Land.

The presumption is all lands belong to the State (under the Regalian legal doctrine). Subsequently, certain parcels of land are declared and classified as alienable and disposable. Then occupants of said land can proceed by applying for titles on the land under various modes 9judicial or administrative). A successful applicant is then issued an Original Torrens Title (OCTs) putting said land under the Torrens system. Subsequent buyers of the land are issued Torrens Certificate of Title (TCTs).

The Torrens Certificate of Title is designed to protect buyers of land in good faith against adverse claimants. Once registered, it is notice to the whole world of the person's ownership.

If an alienable or disposable land is not yet registered under Torrens system, then it is considered as unregistered. Ownership is not yet perfected as the state or other private claimants can still object to the titling of the land. Ownership claims on unregistered lands, oftentimes are evidenced by tax declarations. Certain types of land, such as those forming part of marine waters, forest, military reservations, etc. cannot be alienated, hence, cannot be titled to private persons. For safety reasons, buyers must deal, as much as possible with lands that are covered by TCTs or those registered. The risk of legal claims and conflicts are greater when acquiring an unregistered land.



Buying Tips

1. Assistance of a Real Estate Lawyer:

For peace of mind, hiring an experienced lawyer can take most of the worry out of the proposed transaction. If the proposed deal involves a huge amount of money, then the lawyer's assistance may be necessity. Not just an ordinary attorney, but a lawyer, who specialized in real estate transaction should be hired right from the start of serious negotiations. The seller's attorney prepares almost all contracts of sale and their provisions are intended to protect the seller's interest. The buyer's attorney should be able to balance the situation and protect his client's interest in the deal. Land cases may involve 5 to 20 years or even more, for court to resolve. Legal remedies in court may not provide adequate relief for grievances. The involvement of an experienced lawyer in a land deal will greatly minimize legal conflicts, which are very costly.

2. Investigate the Title and Ownership

Fake titles abound in many parts of the country. Although the Philippines has adopted the Torrens system of title, unscrupulous individuals or criminal syndicates are out to tinker with the system. With a fake title on hand, possessors or even squatters are entitled to be heard in court (which could be protracted). This is principal reason why the title or ownership must be investigated for possible aw or claims. There could be liens or charges against the properties, which should be cleared prior to acquisition.

3. Inspect the Land, Building or Site

There could be illegal occupants or squatters possessing the property. Ejecting them is not an easy task, especially so that they can only be ejected after due process of the law. There is also the Lina Law, which prohibits ejecting squatters without giving them land in another place for settlement. A thorough inspection may disclose claims from joining owners, boundary disputes, such as if present, buyers can ask the owner or seller to resolve the disputes prior to acquisition. The area you intend to buy may be landlocked, meaning there is no right of way. A geodetic engineer may be asked to assist if the technical description in the title corresponds to the land or site identified by seller to the buyer. The use of substandard construction materials is prevalent.

Buyers of finished houses and buildings are cheated when developers or contractors used substandard materials like reinforcing steel bars, hollow blocks, untreated lumber, low quality fixtures, and undersized electrical wirings. Finished structures should be inspected carefully. The buyer, by visiting the site, can at least determine the quality of neighborhood. Criminality such as petty theft, robberies, and drug-related crimes abound in places proximate to depressed areas. The availability of utility services such as telephone, water and electricity must be evaluated. Environment problems such as flooding during rainy season (not only on the site but in the road system leading to the site), threat of erosions and mudslides must be approximated. Traffic problems in the vicinity and accessibility to churches, market, malls and other establishment must be considered.



4. Determine Market Value and Taxes

Are you buying the property for your money's worth? Unscrupulous real estate brokers can unnecessarily jack up the price of a property by paying themselves hefty commissions. Be careful in dealing with real estate brokers. If in doubts, ask for the real value of the property, then hiring the services of the reputable and independent appraisal company is advisable. An appraisal company charges fees commencing from USD 100 up depending on several factors surrounding the property.

Unpaid real property taxes, capital gains tax, documentary stamp tax, registration fees, transfer taxes must be paid before ownership or title can be transferred. You can have preliminary calculations of these amounts (depending on the sales value, market value or zonal value of the property) and consider the same negotiating for the final consideration of selling price.



5. Be careful of investing in Undeveloped Properties

In pre-selling scams, developers entice investors with discounted prices and promises of huge profits through the purchase and sale of real estate properties. Developers of real estate dealers use prominent politicians and personalities, deceiving advertisements as tools to attract buyers. The developer goes bankrupt (as the land foreclosed by a creditor bank) and abandons the project, leaving the purchaser to lose his entire investment. In pre-selling or subdivision projects, the precise title number or technical description is unknown to the buyer, allowing opportunities for real estate fraud. In the multiple sales scheme, one lot is sold to several buyers and hope that they may not be able to keep up with the installment and developer rescinds the contract and forfeits the payments already made.

An installment buyer, who has fully paid his property would find later that another persons has the registered title over it. The Housing and Land Use Regulatory Board (HLURB) has exclusive jurisdiction over real estate developers. However, even if a projects has a Permit to Develop or Permit to Sell issued by government, the same does not guarantee that the developer can finish the project or keep up to his promises. One must select a reputable, honest, and legitimate developer or builder.



6. Beware of the fine prints in real estate contracts

The buyer can disagree with escalation clauses, which allows the seller to increase prices in case of extraordinary inflation, peso devaluation, etc. There are grossly disadvantageous provisions such as forfeiture of installment payments, exorbitant interest and penalties. The buyer must not be fooled in accepting these conditions.



Real Property Mortgage

A Buyer or real property may need financing to acquire the same. He may therefore enter into a loan agreement with a bank or lender constituting a mortgage over the property to secure the payment of the principal obligation. If the loan is not paid in accordance with the agreement, the lender may foreclose the property by selling it in a public auction in various modes provided by law (judicial or extra-judicial). The proceeds of sale is applied to the loan and the excess if any is returned to the property owner.

Funds from 50 percent to 80 percent of the real property value may be loaned. Type of properties, usage and location are some of the factors that determine its loan value. Bargain for the interest rates and period to fit the buyer's paying capacity. Documents need when borrowing from financial institutions include:

Torrens Certificate of Tittle or Condominium Certificate of Title, Tax Declaration, Location and Vicinity Map, Real Property Tax Clearance and others.



Leasing Properties

Lease of land is contract by which a person (owner) temporarily grants the use or enjoyment of certain property to another who undertakes to pay rent or price therefore. Again, if the proposed deal involves a huge sum of money, then the lawyer's assistance may be necessity. This is so especially if the lessor intends to introduce substantial improvements or building in the leased land. The investor does not want to be kicked out of the property prior to the termination of the lease without justifiable grounds. A long-term lease contract must be subject to review by a competent lawyer. As a general rule, if the lessor is a Filipino corporation or citizen, the maximum period of leased allowed is 99 years (Art. 1643, Civil Code of the Philippines).

Long-term leases of properties (more than one year) must be annotated as a lien or encumbrance in the Torrens Certificate of Title of the owner to be valid against third parties. In case ownership of land is transferred to another person during the lifetime of the lease, the new owner has to respect the lease terms and conditions. Long-Term Lease for Specific Approved Investment or Business by Foreigners, republic Act No. 7652 (Investors' Lease Act) allows foreign investors to lease private lands in the Philippines for maximum of 75 years. Under tis law, any foreign investor infusing capital into the country can lease private lands, in observance of the Philippine laws and the following:

1. Lease contract shall be for 50 years renewable only once for another 25 years.

2. Leased area will be used solely for investment upon mutual agreements of the parties; and

3. The leased premises such area as may reasonably be required for the purpose of the investment subject to compliance with the Comprehensive Agrarian Reform Law and the Local Government Code.

from "Discover Philippines"

DUAL CITIZENSHIP AND OTHER CONCERNS OF FOREIGN-BASED FILIPINOS

1. Are you a Filipino migrant who has lost Philippine Citizenship and now wants to regain your status and privileges as a Filipino?

The newly-enacted Republic Act No. 9225 dated August 29, 2003 now allows you to become a “dual citizen” that will regain for you your status as a Filipino and allow you to enjoy all the rights and privileges as such.



2. Can one be a Filipino and a foreign citizen at the same time?

Yes. Under Republic Act. no. 9225 or the “Citizenship Retention and Reacquisition act. Of 2003”, natural-born Filipinos who are naturalized citizens of a foreign country before the effectivity of this law may re-acquire their Filipino citizenship by taking their oath of allegiance to the Republic of the Philippines.

Those who after effectivity of this law become naturalized citizens of a foreign country may retain their Filipino citizenship by taking their oath of allegiance to the Republic.

This new law amended a 65-year old law – Commonwealth Act. No. 63- that divest from naturalization as foreign citizens. Thus, under the old law, many Filipinos have been automatically stripped of their Filipino citizenship by the mere act of having obtained citizenship in another State, without regard to the reasons that compelled them to acquire foreign citizenship.

The new law corrects this problem by recognizing dual citizenship and allowing a Filipino to re-acquire or retain Philippine citizenship even after his naturalization in a foreign country.



3. What benefits will I obtain from re-acquiring or retaining my Filipino citizenship?

Once you have re-acquired or retain your Filipino citizenship, you will be able to fully enjoy all civil and political rights and privileges just like any other Filipino such as ownership of real estate properties in the country, being able to engage in certain areas of business that are reserved for Filipino citizens or Filipino-owned corporations ( public utility, media, advertising, educational institutions, transportation, telecommunications), right to practice your profession (provided that the necessary license or permit is obtained from the proper authorities), and right to vote and seek an elective or appointive office in the government.



4. Will my foreign citizenship be adversely affected if I apply for dual citizenship?

If you are naturalized citizen of a country that recognizes dual citizenship, your re-acquiring of your Filipino citizenship will not divest you of your foreign citizenship. Many countries allow dual citizenship. Aside from Philippines, around 89 other countries allow their citizens to hold dual citizenship such as USA, UK, Canada, France, Switzerland, Germany, Ireland, Russia, New Zealand, Taiwan, Vietnam, Israel, Cuba, and 14 out of 17 Latin American nations.



5. If I become a dual citizen, do I need to pay tax to the Philippine government?

No. The Tax Reform Act of 1997 exempts Filipino citizens residing abroad from paying taxes for income earned outside the Philippines. This amends the old tax law that required Filipinos to pay taxes for income earned in and out of the Philippines. Thus, your re-acquiring of your Filipino citizenship will not result in your paying of taxes to the Philippine government for income that you earn in a foreign country.



6. What steps will i take to re-acquire or retain my Filipino citizenship?

It depends on where you are presently based in the Philippines or Abroad. If you are a former natural-born Filipino who is already in the Philippines, you should file a petition under oath with the Bureau of Immigration (BIR) for the issuance of an Identification Certificate under R.A. No. 9225 and the cancellation of your Alien Certificate of Registration if you are registered alien in the BI. If you are based abroad, you will file the petition at the nearest Philippine Consulate for evaluation.

Upon a finding of Consulate that your petition complies with all the requirements, it shall issue an order of Approval which shall be transmitted to the Philippines as a pre-requisite for the issuance by the BI of you Identification Certificate under R.A. No. 9225. In either case, whether you are based in the Philippines or abroad, the final act that confers Philippine citizenship is the issuance by the Bureau of Immigration of your Identification Certificate under R.A. No. 9225.

Labels: Alveo Land, Ayala Land, Bonifacio Global City, Canlubang, condominium for sale, for rent, fort bonifacio, house for sale, Meranti, Nuvali, One Serendra, Sequoia, Serendra, Tagaytay, Two Serendra