A Clearance Certificate allows a Singapore company/limited liability partnership/society to acquire and retain residential properties subject to the provisions of the Residential Property Act.
(a) Companies incorporated in Singapore, all of whose directors are Singapore citizens and all of whose members are Singapore citizens/Singapore company/Singapore Limited Liability Partnership;
(b) Limited Liability Partnerships (LLP) incorporated in Singapore, all of whose partners are Singapore citizens/Singapore LLP/Singapore company; and
(c) Societies incorporated in Singapore, all of whose members are Singapore citizens and all of whose trustees are Singapore citizens or a trust company licensed under the Trust Companies Act.
The Singapore company, limited liability partnership or society issued with a Clearance Certificate must ensure that all its directors, shareholders, members, partners or trustees remain as Singapore citizens and/or a trust company licensed under the Trust Companies Act (Cap. 336), as the case may be.
If the entity does not own any restricted property, it can apply online to cancel the clearance certificate. A non-refundable application fee is payable. If the entity owns restricted property, it must apply to become a converted foreign entity before it admits the foreign person by submitting an online application. A non-refundable application fee is payable.