Restricted properties include:
A housing developer who intends to purchase restricted property to construct flats or dwelling house for sale.
A housing developer means:
(a) an individual who is not a Singapore citizen; or
(b) a foreign company, a foreign limited liability partnership or a foreign society; or
(c) a Singapore company, limited liability partnership or society which is not holding a clearance certificate.
Each applicant is assessed on a case-by-case basis, taking into consideration, including but not limited to, the following factors:
(a) You should be a permanent resident of Singapore for at least five years; and
(b) You must make exceptional economic contribution to Singapore. This is assessed taking into consideration factors such as your employment income assessable for tax in Singapore.
(a) Complete the construction and obtain the Temporary Occupation Permit or Certificate of Statutory Completion within 5 years from the date of issue of the QC or the collective sale order, whichever is applicable;
(b) Dispose of all the residential units within 2 years from the date of issue of the Temporary Occupation Permit or Certificate of Statutory Completion, whichever is earlier;
(c) Must not, without approval, change the shareholding of the housing developer after QC is issued;
(d) Must not, without approval, sell the land in its vacant or undeveloped state; and
(e) Provide security (Banker’s Guarantee of at least 10% of purchase price of land).
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