Application for Foreign Person Purchase

What are restricted properties?

Restricted properties include:

vacant residential land;

terrace house;

semi-detached house;

bungalow/detached house;

strata landed house which is not within an approved condominium development under the Planning Act;

townhouse;

residential shophouse;

association premises;

place of worship; and

worker’s dormitory/service apartments/boarding house (not registered under the provisions of the Hotels Act).

What are the criteria for approval?
You must be a permanent resident of Singapore; and you must make adequate economic contribution to Singapore.
Can I apply even though I do not have a property in mind?
Yes, you may apply for an approval in-principle. In fact, you are encouraged to do so before entering into any contract to purchase a restricted property so as to avoid any forfeiture of monies paid in the event you are not granted approval to acquire the property. 
If approval is granted, you have to submit the details of the property you intend to purchase within 6 months from the date of the letter of approval. Otherwise, the approval will lapse and you will have to make a fresh application. There is no extension of validity for the approval in-principle granted.

What is the processing time?
About 20 working days from the date all information and documents are received by us. The processing time includes verifying the information with other agencies, checking if the applicant or his spouse owns restricted property, as well as the assessment of the application by the Residential Property Advisory Committee before the final recommendation is sent to the Minister for consideration.

Is there any restriction on the property that I can buy?
Yes. The land area of the property must not exceed 1,393.5 sq metres or 15,000 sq feet. In addition, the property must not be situated within a good class bungalow (GCB) area.

What are the conditions of approval?
The conditions are that – you shall use the property solely for your own occupation and that of the members of your family as a dwelling house and not for rental or any other purpose; you shall not dispose of the property within 5 years from the date of legal completion of the purchase of the property or, if the property is under construction, 5 years from the date of issue of the Temporary Occupation Permit or Certificate of Statutory Completion (whichever is issued earlier) for the property; andyou shall not subdivide the property without approval.

Can I buy vacant land to build my house?
Yes. If approval is granted, you will be required to complete the construction of the dwelling house on the property within 3 years from the date of the letter conveying the decision.

I own a restricted property. Can I apply to purchase another restricted property?
Yes, you may, provided you have fulfilled the 5-year non-disposal condition. However, if you are granted approval for the purchase, you will be required to dispose of your existing restricted property as follows: on or before the date of legal completion of the purchase of the new property; or within 3 months from the date of issue of the Temporary Occupation Permit or Certificate of Statutory Completion (whichever is issued earlier) if the property is under construction; or within 3 months from the date the seller delivers vacant possession of the new property for which the Temporary Occupation Permit has been issued but separate title has not been issued yet.

 

Application for Foreign Person Purchase (Sentosa Cove)

Can I apply even though I do not have a property in mind?
Yes, you may apply for an approval in-principle. In fact, you are encouraged to do so before entering into any contract to purchase a restricted property so as to avoid any forfeiture of monies paid in the event you are not granted approval to acquire the property. 
If approval is granted, you have to submit the details of the property you intend to purchase within 6 months from the date of the letter of approval. Otherwise, the approval will lapse and you will have to make a fresh application. There is no extension of validity for the approval in-principle granted.

What is the processing time?
About 20 working days from the date all information and documents are received by us. The processing time includes verifying the information with other agencies, checking if the applicant or his spouse owns restricted property, as well as the assessment of the application by the Residential Property Advisory Committee before the final recommendation is sent to the Minister for consideration.

Is there any restriction on the property that I can buy?
Yes. The land area of the property must not exceed 1,672.3 sq metres or 18,000 sq feet.

What are the conditions of approval?
You shall use the property solely for your own occupation and that of the members of your family as a dwelling house and not for rental or any other purpose.

I own a restricted property. Can I apply to purchase another restricted property?
Yes, you may. However, if you are granted approval for the purchase, you will be required to dispose of your existing restricted property on or before the date of legal completion of the purchase of the new property.

What are the penalties if I breach the condition?
Depending on which condition is breached, you may be required to pay a financial penalty or be liable, upon conviction by a court, to a fine of up to $200,000 and/or imprisonment for a term of up to 3 years.

Can a foreign entity purchase residential property?
Yes, subject to approval. The entity is required to submit an application. A non-refundable application fee is payable.