FREQUENTLY ASKED QUESTIONS
1) How long does it take ?
About 45 minutes for one of our representatives to explain the concept, give you full details and answer any specific queries you may have. Following this, about 30 minutes with a lawyer to sign the lease and Power of Attorney documents and get them notarised. The only delay may be at City Hall where the TCT (Transfer Certificate Title) document needs to be registered. We aim to get the original annotated Title in your possession within one calendar month of your signing up to our custodian service.
2) What do I actually get when I have paid ?
In terms of documentation you will receive the following :
a) 100 year lease in the form of 50 years, plus 25 years automatic renewal, plus 25 years optional renewal in accordance with current Philippine law. The lease document will be signed, dated and notarised in the presence of witnesses at a lawyer's office.
b) 'Full Power of Attorney' document in the form of an IRREVOCABLE Secretary Certificate from Rojo8 Corporation, signed, dated, witnessed and notarised. This gives you the SOLE and EXCUSIVE right to act on behalf of ROJO8 with regards to your property
c) Original annotated property title (TCT) with proof of City Hall registration. This is where your name and identification details will be officially logged at City Hall for total piece of mind. The original of this document will always remain in your possession.
(We sincerely aim to get this in your possession within one month).
In addition to the above documentation, you will also receive complete peace of mind in the full knowledge that you have 100% control of your property. You can fully benefit from future capital appreciation, begin receiving rental income or enjoy living in your new home with no ownership issues. As a valued client you can rest assured that only you can sell your property at a time of your choosing, completely independent of ROJO8 Corporation.
3) What happens if I die ?
At the time of signing up for the ROJO8 custodian service, an " In the Event of Death" document must be completed. In the event of a client's death, ROJO8 will strictly follow your specific instructions, to the letter, with immediate effect. ROJO8 Solutions will only continue the service acting upon explicit instructions.
4) What about property taxes ?
ROJO8 Corporation does not benefit in any way from 'owning' your property other than the collection of the one-time fee paid for the service. It is the responsibility of the client to pay any property taxes that are due directly to City Hall. Capital Gains taxes and utility bill obligations also fall to clients directly. These payments are wholly independent of ROJO8 Corporation.
5) Can I get a refund ?
ROJO8 does not offer refunds once the paperwork is completed. Our service is specifically targeted at property speculators looking to profit from the fast moving real estate market here in the Philippines. The fee paid is less than the cost of incorporation and is a far quicker and smoother process involving no further municipal or central government compliance. Our third party custodian service works for both short term speculators and long term investors in the local property market. Over a ten year period, the cost can be calculated at 1,000 pesos per month. This is less than the cost of keeping an accountant on retainer, about one third of the ongoing cost of keeping a corporation compliant, and less than the cost of filing an annual financial statement with the SEC.
6) What happens if the company is wound up ? Where does this leave me ?
According to the Corporate Code of the Philippines, all Corporations are legal entities for 50 years. Rojo8 was established on March 4th 2014. All documents signed, witnessed and notarised on or prior to March 3rd 2064 are legally valid. The Secretary's Certficate is IRREVOCABLE and gives the SOLE and EXCLUSIVE right to sell to the client. Even if ROJO8 ceases trading for any reason, the documents and property titles in your possession are legally valid and you have full independant control.
Market Outlook :
ROJO8 is a young company with a unique concept fully focused on helping our clients. We own property ourselves and are committed to Philippines real estate for the long term. We intend to be around for many years and accept that the true returns from property come with a ten year investment horizon. ROJO8 aims to keep our policy of an affordable one time fee.
Financial Position :
ROJO8 has zero debt, wholly owned property assets of its own and rental income revenues. Annual Financial Statements and BIR filings can be viewed upon request to confirm the health of the company. Client properties will never be used as collateral on the balance sheet of ROJO8 Corporation. ROJO8 will never take on any debt secured by the property assets controlled by clients.
7) What if the Filipino directors collude to sell my property from under me ?
The Secretary's Certificate issued by ROJO8 is legally binding and IRREVOCABLE.
This situation cannot ever arise. You will always have full control of your property.
ROJO8 cannot ever sell your property. You can sell your property at any time completely independently and without any further intervention of ROJO8 Corporation. You will always have 100% control of your property.
8) How long is the arrangement for once I have signed ?
Until you wish to sell your property, but you may cancel the ROJO8 service at anytime. There is no cancellation fee. The lease is for 50 years in accordance with current Philippine law. The lease document includes an automatic 25 year extension, together with an optional further 25 years to make up a 100 year lease term in total. The whole lease is then renewable for another 50 years upon agreement of the client and ROJO8 Corporation. The lease is effective, technical, practical 'ownership' in the form of 100% legal control and is judicially sound in accordance with current Philippine law.
9) Is the 50+25+25 years lease transferable ?
Yes, of course. The lease document can be transferred to a spouse/ sibling/ partner/ child /friend /another corporation at anytime the client requests. The legal fees associated with the initial lease document are included as part of the ROJO8 fee. However, any legal costs that arise with further transfers are to be met by the client.
10) Can I see your company permits, documentation and corporate filings ?
Yes, of course. Our corporate information is available for viewing by all prospective clients.
ROJO8 aims to make you completely comfortable investing in the Philippine real estate market.
One of our representatives will be happy to show you the originals of the following upon request :
SEC Certificate of Incorporation
BIR Certificate of Registration
AFS - Annual Financial Statement
GIS - General Information Sheet
Business Licence Plate
Fire Safety Inspection Certificate
Certificate of Zoning Compliance
historic 7102Q quarterly tax filing documents in full compliance with BIR regulations