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My husband and I are working in Singapore as foreigners. Our son is a US citizen (2 years old). We plan to buy a investment property (condo) under his name to avoid foreigner stamp duties. Is there anyway to get a mortgage? Our income is above 500K SGD per year and we have several oversea properties which can be used as collateral.
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4 Answers

YT Tan (陈永达)
Good morning Investor,

It's true that US citizen will be entitled to ABSD exemption if they purchase a residential property in Singapore.

But I am afraid to inform you that the legal age to own a property in Singapore is 21 years old thus you still have to purchase under your names.

Moreover, only owners with income can take up mortgage. Guarantors for a housing loan is not allowed anymore.

To reduce on ABSD, probably one of you can consider to convert into SPR.

Hope my sharing is beneficial towards your property investment.

Wish I can continue to value add in this investment property.

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com Read More
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Hi Mdm,

1. May I know which citizenship are you holding on to?

2. You may consider buying it under a trust with your son as the beneficiary as you will not be able to purchase a property under your son's name as he has not reached the legal age of 21 years old.

3. Please feel free to contact me so that I can understand your needs better and link you up with my banker to work out on your eligible loan amount.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nicktan@propertyavenue.com.sg / nick96444854@gmail.com
(W) www.nick-tan.com / www.propertyavenue.com.sg

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Hi there, I assume that you are looking for ways to save on the additional stamp duties at the same time looking for opportunities to add on to your property portfolio. There are actually ways to save on ABSD and some very attractive real estate opportunities out there with projected better than average capital appreciation and rental yield out there. Do give me a call or e mail in order for me to share with you more details for your consideration with no obligation at all.
Cheers
Rix Jim
 9687 1379 
rix.jim@hotmail.com
Propnex Read More
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hi do contact me to discuss on your investment plans

Mark Ng
 +65 97970200 
Shenton Realty Homes Read More
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