Foreign ownership of condo units

Foreign ownership of condo units

What is NOT doing business in the Philippines? Or, is a foreign company's act of purchasing condominium/residential units in the Philippines to be considered as "doing business" in the country?

This Inquirer article is a good summary of the SEC decision "that the South Korean company’s purchase of condominium units and parking slots cannot be considered as doing or transacting business in the Philippines". This decision, says the author with some foreboding, is significant in the context of the on-going "Korean invasion" of the Philippines.