1. General Rule – only Filipino citizens and corporations with at least sixty percent of the capital of which is owned by Filipino are entitled to acquire and own land in the Philippines .

2. Exceptions to General Rule – Alien acquisition of real estate in the Philippines is allowed in the following cases:

A) Acquisition before the 1935 Constitution

B) Acquisition thru hereditary succession if the alien acquires is a legal heir.

C) Purchase of not more than forty percent interest in a condominium project.

Example: if a condominium unit has 100 units, different foreigners can own 40 or 40% of these units.)