Hi Pedram,
Yes Sir, any foreigner can purchase a private apartment/condominium for investment purposes. Your main concerned is after purchasing a property, may the authority automatically convert your citizenship? Is that your question?
Your answer is NO. UNLESS you could fullfilled certain requiremnt. Also, depend whether private or government(HDB) property.
For HDB resale:
In Singapore, you need the authority of labour or a company to verify that you are a worker/employee in the company. Unless you are a BIZman who want to venture in some bizness. The fact is, there are a few category of passes to be valid. 'WP' or 'SP' OR 'PR'. Usually after the SP/PR then u may applied to purchase a HDB flat. Your initial payment after COV is 20% downpayment from your CPF OR CASH. The balance 80% must thru a HDB loan or Bank loan.
For Private Apt/Condominum,
Applicable to new condo only.
Your initial payment on the spot is 5% in CASH OR CHQ. The balance of the 80% progressively.
For Resale Private Apt/Condominum
Your initial payment is 1% downpayment by CSH OR CHQ. Afterwhich is 4%. You need to exercise the OTP(Option). The balance 80% is thru the Bank Loan.Bank loan which comes in a premium.The payment for COV (cash over valuation) it applicable if owner want some cash over the said amount.
All Bank Loan have to get approval of the said bank.
You may wish to contact me at
+65-9002-6999 or email me at doanatan@gmail.com for further discussion.
Best regards.
Doan Tan, ERA
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