ROMBLON REAL ESTATE
We are independent real estate client representatives and have lived in many parts of the Philippines. With this extensive experience, we have decided to develop real estate projects in the secluded province of Romblon.
As a foreign real estate client, you should be aware of the Philippine Anti-Dummy-Law that provides severe criminal penalties for circumventing strict rules that ban foreign land ownership. A carefully structured long-term lease agreement can give you and your family the right to use land for 25, 50 or more years. If you want to setup a foundation for land ownership, make sure you appoint truly independent Filipinos as directors of the board and be aware of taxation issues and potential audits. Our attorneys can assist you.
Other potential pitfalls are construction risks. Be aware that many construction projects in the Philippines do not meet international standards, regardless of whether they are managed by locals or foreigners. Few contractors have the expertise to build typhoon-proof quality homes and I will be glad to advise you.
You should also be aware that your new property should have a clean title and that land disputes are common in the Philippines. Our real estate attorneys can advise you on how to minimize risks when you enter into a long-term lease agreement or what you need to check if you wish to purchase land for your Philippine spouse, children, relatives or foundation.
Speaking of family and marriage, be aware of the strict laws and criminal penalties regarding extramarital relationships and realize that divorce does not exist in the Philippines. The legal age of consent in the Philippines is 18 and there are many laws and criminal penalties that are meant to protect Filipinos from abuse, even above that age. Be aware of those laws and consult one of our family lawyers for further details.
Also be aware that any accident could have catastrophic consequences if you are not careful. Medical services in Romblon and especially outside Tablas Island are very limited and even simple surgical procedures are often not performed by local hospitals. In an emergency, you need access to a medical helicopter and should have full medical insurance coverage. We will be glad to share information on international health insurance and repatriation. Primary risks in Romblon province include motorcycle accidents, particularly if you ride without a helmet, falling coconuts (yes, you read correctly), and deadly box jellyfish if you swim or dive without a wetsuit.
Finally, make sure your visa is properly processed and consult with one of our immigration attorneys to make sure you have a valid visa at all times. Be aware that paying any government official to process your visa directly can result in significant criminal penalties if you make additional payments besides from government fees. We recommend that you let one of our attorneys handle all your business with the government.
After carefully considering the risks of living on an island and leasing property in Romblon province, you can enjoy and appreciate the many benefits:
- Your foreign-sourced income is tax-free. Our tax attorneys can advise you on how to avoid reporting requirements and properly structure your financial and business interests.
- The Philippines does not have nuclear power so you don't have to worry about another potential Chernobyl or Fukushima.
- Living in Romblon province means that you are breathing some of the cleanest air on the planet, which will keep you and your loved ones healthy.
- The climate in Romblon province is pleasant all year round - without extreme heat or cold. You can also enjoy a gentle breeze in many areas, especially in coastal regions.
- The real estate value you get for your money is often tremendous. Expect your purchasing power to be 5 - 20 times greater than what comparable properties cost in North America or Europe.
If you are ready to settle down and wish to lease a home, invest in a commercial property or manage your own resort, then let us guide you on how to find the best real estate deals in Romblon province or how to organize construction - with the same reliability and quality that you would expect in your home country.
We look forward to speaking with you to discuss your real estate expectations!
If you have an extraordinary property or land for sale or lease on any island in Romblon province, or a private island in MIMAROPA, contact us so we can connect you with potential clients, or request an invitation to one of the events of 'Romblon Foundation' or our family office 'M'.
LEGAL DISCLAIMER AND DISCLOSURE
We are independent real estate client representatives and do not sell real estate or offer brokerage services. Real estate transactions are exclusively conducted through our attorneys and all fees are disclosed in our consulting agreements. We do not assume liability for the quality of real estate you purchase, or any other aspect of your real estate transaction. We will be glad to refer you to a property surveyor so you can minimize your risks before you purchase land, construct or invest in buildings.