What and Who?
- This Act is the legislation that restricts foreign ownership of land in Singapore
- In Singapore, not everyone can own landed properties Landed properties are restricted properties under the definition of the Residential Property Act
- A foreign person cannot acquire an interest in any development for a term exceeding 7 years (including any option to renew) without the prior approval of the Controller of Residential Property who is under Land Dealings Approval Unit (LDAU – SLA)
What is the Residential Property Act (Part 1)
| A foreign person means any person who is not: | A foreign person includes: |
| · Singapore Citizen (SC)
· Singapore Company · Singapore Limited Liability Partnership · Singapore Society |
· Singapore Permanent Resident (SPR)
· Company with foreign shareholders · Foreign Limited Liability Partnership · Foreign Society |