Information for foreigners |
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Foreign ownership of private property is governed by the Residential Property Act. Under the Act, foreigners are allowed to purchase apartments in non-condominium developments of less than 6 levels without the need to obtain prior approval. For purchase of restricted property such as HDB flats purchased directly from HDB, vacant land and landed properties, prior approval from the Singapore Land Authority is needed. Foreigners do not need prior approval to purchase the following types of properties: Developments approved as a condominium development under the Planning Act A flat in a building of 6 levels or more including the ground level and any level below the ground level including HUDC Phase I, Phase II flats and privatised HUDC Phase III and IV flats A leasehold estate in restricted residential property (refer to A) for a term not exceeding 7 years including any further term which may be granted by way of an option for renewal Under the Global Investor Programme (GIP) administered by the Economic Development Board (EDB), foreigners can be considered for Permanent Resident (PR) status if they invest a certain minimum sum in business set-ups and/or other investment vehicles such as venture capital funds, foundations or trusts that focus on economic development. Private residential properties investment will be considered for application for Permanent Resident application. A foreigner can be considered for PR status if he invests at least S$2 million in business set-ups, other investment vehicles such as venture capital funds, foundations or trusts, and/or private residential properties. Up to 50% of the investment can be in private residential properties, subject to foreign ownership restrictions under the Residential Property Act (RPA).
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