Q: Is this the best time to invest in Singapore ?

Are you looking for good investments? Now is the BEST time to do this because the prices are now steadily recovering from their plunge after the height of year  1996 Q1. The Financial Times dated July 19 2007 reported that the government would relax rules on buying property in an effort to revive the market. Why not invest in the residential property market of Singapore? To get into the market right now is the best decision you would make because the residential and commercial properties in Singapore are starting to appreciate in value which is best for a mid to long term investment. There are NO CAPITAL GAINS TAXES in Singapore and you do not have to pay tax for gains on selling a residential and commercial property. You choose the property that you like from our list of recommendations and we will take care of everything. We can also manage the leasing out of your property, if that is what you want to do with it. We also deal with problems concerning foreign ownership, taxation, financing and other expenses.

Q :Is it difficult to live and work in Singapore ?

The last thing you need while trying to adjust to your new surroundings is the considerable hassle of finding a new home. Settling into a new place involves more than just acquiring a suitable accommodation. 
 
Singapore is a good place for English or Mandarin speaking expatriates to seek accommodation. For one thing, no huge language problems loom to complicate negotiations or make contracts forbidding documents. 
 
Your first step should be to draw up a list of personal options of your immediate needs and your personal preference .

• Do you require short-term or permanent accommodation?
• What’s your budget?
• Where is the location you preferred?
• What's best for you and your family?

You will need to look into a few other factors (see guide below) before taking further action. 
 

Q:How can I manage my purchase property while I am residing outside Singapore?

We can Managing Your Investments on Behalf of You

Our business relationship does not stop with your purchase of the property. We will also manage your investment property, on your behalf, whether you plan to have it leased out or just properly maintained. We will give you up-to-date news on your property, as well as its investment and market value. Managing properties has never been this easy. Need to ask something about your property? Just give us a call and we will give you the information that you need.

Q:Who are those classified as "foreigners"?

A "foreigner" is defined in the Residential Property Act as the follows:

1) Any person who is NOT a citizen of Singapore (including a permanent resident, employment pass holder, work permit holder or a social visit pass holder

2) Any foreign company or converted company or

3) Any society or converted society which has not been granted approval or received exemption by the minister

Q:What are the restrictions for "foreigners" wanting to own properties in Singapore

Foreigners are Not restricted from acquiring:

• Developments approved as a condominium development under the Planning Act
• A flat in a building of 6 levels or more including the ground level and any level below the ground level including HUDC Phase I, Phase II flats and privatised HUDC Phase III and IV flats
• A leasehold estate in restricted residential property for a term not exceeding 7 years including any further term which may be granted by way of an option for renewal
  

A "foreigner" needs to apply to the authority if he/she wants to purchase the following Restricted Residential properties:

• Any landed residential properties including detached houses, semi-detached houses and terrace house
• Any flat in a building of less than six levels
• Any vacant land zoned for residential use

The application forms can be obtained from:

Controller of Residential Property, Land Dealings Unit and applications are evaluated on a case-by-case basis, and the entire process should It takes about three months.

Q:What factors would the government consider when evaluating my application?

The government will consider the following main factors:

1) your ability to make an economic contribution to Singapore

2) your qualifications

3) whether you are a Permanent Resident of Singapore

Q:Are there any restrictions on home loans for foreigners? 

Yes. Foreigners are only allowed one Singapore dollar loan to purchase a residential property. They are also able to borrow loans up to 80% of the purchase price of the property.

Q: Can a company buy a residential property in Singapore?

To be able to purchase or own any residential property in Singapore, a company must obtain :

• Certificate of Clearance from the Controller of the Residential Property, under the Land Dealings Approval Unit. The requirements needed in order to get this Clearance Certificate are that Singaporean citizens should occupy the seats for the Board of Directors and shareholders, filing a statutory declaration that indeed all directors and shareholders are citizens of Singapore, and the property should be intended for residential purposes only.

Q: What is Central Provident Fund (CPF)? 

A: Over the years, CPF has been used to accelerate natioinal growth. To meet the population's needs in housing, healthcare, family protection and investment, several innovative schemes were introduced over the last five decades. For details, please click to see the CPF website. 
 
Q: Do foreigners need to contribute to the CPF? 

A: Foreigners will only need to contribute to the CPF after having assumed permanent resident status. For details, please click to see the CPF website. 

Passiton Property Consultants has a project team to handle all your personal needs from movers to setting your whole office in operation and setting your IT network requirements . We have years of track history to handle many global companies wanting to establish a full operational business in Singapore. 


For further information we are only an email away