Republic Acts1 min read
Section 4Sec./Art. 4
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Coverage. Any foreign investor investing in the Philippines shall be allowed to lease private lands in accordance with the laws of the Republic of the Philippines subject to the following conditions:
1. No lease contract shall be for a period exceeding fifty (50) years, renewable once for a period of not more than twenty- five (25) years;
2. The leased area shall be used solely for the purpose of the investment upon the mutual agreement of the parties;
3. The leased premises shall comprise such area as may reasonably be required for the purpose of the investment subject however to the Comprehensive Agrarian Reform Law and the Local Government Code.
The leasehold right acquired under long-term lease contracts entered into pursuant to this Act may be sold, transferred, or assigned:Provided,That when the buyer, transferee, or assignee is a foreigner or a foreign-owned enterprise, the conditions and limitations in respect to the use of the leased property as provided for under this Act shall continue to apply.
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