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Good morning Poonam,

It will be best to buy solely under your brother's name as he will be accorded the same tax treatment for Singaporean.

Why?

Only married couple (Foreigner + SC or Foreigner + SPR) will be subject to ABSD remission as IRAS will treat it as their matrimonial home.

Will you guys consider to buy under just one name?

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
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ABSD will be based on the higher tier applicable, which in this case, will be 30%. If your bother buys the condo under his own name, then he will be accorded the same tax treatment as a Singapore Citizen, meaning no ABSD for the 1st residential property purchase.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Good morning,

It will be ideal to purchase under your brother's sole name as US citizen purchase will not attract ABSD due to our free trade agreement. Might this option be considered? Otherwise the ABSD rate will be 30% as IRAS takes ths higher ABSD profile of the two.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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Hi Poonam,
As a US citizen, your brother will not incur ABSD. He will be treated similar to a Singaporean for the first property. As a foreigner you will incur 30% ABSD. So, together, the higher of the ABSD applies that is 30%. So, owning a property together is not a very good decision.

Please contact me so that we can further explore this investment.
Cheers!

Elan Govan
MABA (Lancaster)
 90170747 
jayelan@gmail.com
www.goodpropertiesguide.com Read More

Hi Sharma,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes it is possible and no issue with that but do take note of the ABSD payable.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi Poonam,
ABSD rate will be 30% if you are buying together with your brother.
I would be glad to assist you.
Feel free to contact me at 97100155  .
Hope to hear from you soon.
Pei
Associate Group Director
Propnex Realty Pte Ltd

https://linktr.ee/peiproperty
https://r011838b.propnex.net Read More