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Foreign Ownership Guide

When it comes to buying a property in Singapore for a foreigner, many people do not know what they should do and what they should not do. This is especially true if you have not been in the country for a long period of time. On the other hand, this does not mean that

you can not own a home here because you can.

So who can be considered as a foreigner?

• A person who is not a citizen of Singapore.
• An entity that is not a Singapore company.
• An entity that is not a limited liability partnership in Singapore.
• An entity that is not a Singapore society.

Most of the time, you will find that foreign individuals are not limited from various kinds of real estate properties in Singapore and these may include:

• A dwelling house or a flat.

• An apartment in a building.

One thing that you have to keep in mind is that as a foreign person, you can not buy all the apartments in a building and neither can you purchase the entire units from a condominium development. For this purpose, you will need to take the consent of the minister of law before hand. If you have found a leasehold property in Singapore then you need to know that you can not lease it for a period that is more than seven years.

There are certain properties in Singapore that you as a foreigner, you can not buy and these are as follows:

• If a building has less than six levels then it is not possible for you to buy units here.

• A residential land that is vacant like a terrace house, semi-detached house, detached house, etc.etc.

• A landed Singapore property.

• A landed property that has not been accepted as condominium developments.

At the time of reviewing your application, there are so many factors that the Singaporean government will take in to account. You will have more chances of getting your application approved if:

• You are a permanent resident of Singapore.

• You have certain qualifications or some professional skill that is considered to offer benefits to the country of Singapore.

• If you are someone who is believed to be someone that has the ability to offer economic benefits to the country or contribute something good.

Obviously, it may not be possible to find all the information by yourself in a very short period of time. It is always recommended that if you are a foreigner and you want to buy a real estate property in Singapore then you should take the assistance of someone who is an expert in this field. This way you can be sure that your project will be carried out smoothly.
If you are looking some kind of help then it is best that you get in touch with a professional expert and this is where we can help you. Helping foreigners buy a property in Singapore is our forte so get in touch with us.

 
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