Here's a breakdown of your questions regarding your condo and the implications of losing your SPR status:
1. **Do I need to sell my condo if I lose my SPR status?**
No, you are not required to sell your condo just because you lose your SPR (Singapore Permanent Resident) status. You can continue to own the property and rent it out, even as a non-resident, as long as you comply with local regulations.
2. **Do I need to refund CPF used for the condo when I lose my SPR status?**
If you lose your SPR status and are required to close your CPF account, any CPF money used for the purchase of the property doesn't necessarily have to be refunded immediately. Generally, CPF will "return" the funds used for the property purchase to you upon closure of your CPF account. However, it’s essential to check directly with **CPF Board** for precise details regarding your specific case, as they will provide the most accurate and up-to-date advice based on the rules at the time.
3. **Will I face issues if I sell the condo 10-15 years later as a foreigner?**
As of current regulations, there are no restrictions preventing you from selling the condo as a foreigner if you no longer hold SPR status and have closed your CPF account. However, you will not be able to use CPF funds for the next property purchase, and the sale might be subject to different tax or ownership laws depending on your status at the time.
To ensure you're fully prepared, it’s a good idea to directly reach out to the **CPF Board** and **Singapore Land Authority (SLA)** for official guidance when the time comes.
WhatsApp me at: ABLE Toh
(65) 9856-9255
or through this link.:https://wa.me/6598569255
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(1) "If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh (65) 9856*9255 or through this link.:https://wa.me/6598569255
(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )
(2) (***) You can READ my REVIEWS here:
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.
(3) For PRIVATE Home Buyers, I offer solutions for sourcing resale and new PRIVATE homes at ZERO charge (Because Most PRIVATE seller Agent are willing to share commission with Buyer Agent)
*** You can reach me at my Singapore mobile:
(65) 9856 9255
or email me at Able.selling@gmail.com.
From: ABLE Toh- Your Property ASSISTANT : ）
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”
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