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indeed

Submitted by peter on Tue, 12/30/2008 - 17:04.

Yes, the constitution prohibits foreigners from owning land, or a majority of the shares of a corporation. In my case, my wife and I would buy the land and it would be in her name. We almost bought land a few times last time we were in the Phils, but ultimately were discouraged by bad titles and inordinate bureaucracy. We'll see whether we have more tolerance for those issues this next time.

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