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 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.
Print Friendly