In the Philippines foriegners can't own property...

[Lancer]

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?

[Japher]

Mexico does.

[Lancer]

"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...

[Whoha]

It is that way over most of the world, the notable exception being the United States of America.

[MichaeltheGreat]

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.

[Lancer]

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?

[Whoha]

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.

[MichaeltheGreat]

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.

[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?

"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!

[MichaeltheGreat]

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.

[Lancer]

"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?

[KrazyHorse]

Originally posted by Whoha
It is that way over most of the world, the notable exception being the United States of America.

Uh...bull****.

[Whoha]

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?

[KrazyHorse]

I mean that you can own property as a foreign citizen in Western Europe, Japan, Canada, Australia, New Zealand...

[Zkribbler]

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