Today we take a look at the Residential Property Act, what is it about, who can buy landed properties in Singapore?

What and Who?

What is the Residential Property Act (Part 1)

  • 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)
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