International Condominium (IC)

An International Condominium (IC) is a legal arrangement allowing foreigners to own and manage residential property within a country's condominium law, often in places where individual land ownership is restricted. It typically involves a structure where a foreign individual or entity owns a unit or units in a building, along with shared ownership of common areas like hallways and amenities. The IC framework enables international investors and residents to participate in property ownership under specific legal and regulatory conditions, providing a secure and recognized way to invest in or live in foreign real estate markets while complying with local laws.