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.
(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).
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.
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