Did you actually check what PR stands for? Partial Resident, Prehaps Resident, Passing Resident, Profit Resident?snaw wrote:Guys,
We've recently become PR (April), and interested in buying a cluster house. I know there's restrictions on buying and we'd need to apply.
Can anyone enlighten us as to our chances of approval and things we need to consider (Renting it out if we leave for example?)
Thx SE, kind of the same as what I thought from speaking to people. I think we would get approval, only one way (And $600) of finding out.Strong Eagle wrote:You could start here.
As I understand it, informally of course, a PR would be permitted to buy landed properties if there is a clear demonstration of long term commitment to stay.
For example, I have started a business and run it for almost 7 years in Singapore. Before the current foreign talent hysteria, I think I would have qualified to buy a landed property because I have a stable business that suggests long term residency. Don't know if this has changed since the populist uprisings against foreign talent.
If you are working for a company that could transfer you back out of Singapore, I'd guess your chances for approval would be much less. For example, many MNC's fast track people for 2 to 5 years in Singapore to get that 'Asian' experience before moving them elsewhere. OTOH, were you to be a permanent fixture with your company, your chances might improve. I'd guess the managing director of Stan Chart, who moved headquarters here, is a shoe in to buy landed property.
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