Renounced PR, re-enter with EP

[sundaymorningstaple]

EP? Possible. PR? doubtful. (at least not without depositing ALL moneys removed from CPF Plus any interest that would have accrued since withdrawing same.

[zzm9980]

I had to surrender my HDB apt (I couldn't sell it in that market condition)

Curious about this. I assume it was resale and you had a loan. Does HDB cancel out your loan then? Do you default and/or still owe the money? Will they arrest you at Changi for being a debtor? If your HDB is paid off I can't imagine you would just give it up since even selling it for a loss would be better than nothing...

[sundaymorningstaple]

I bought mine in 1999 due to the poor economy. Jan-Feb 99 the property market bottomed out and I decided that was the time to buy. Paid valuation only for my 5 room. Has appreciated 35% since then.

[zzm9980]

Paid valuation only for my 5 room. Has appreciated 35% since then.

"Only" heh. I love Singapore. (/sarcasm).

And is that appreciation include current COV?

[sundaymorningstaple]

Nope.

[Mad Scientist]

A few years ago, I had encounter one chap whom had to relinquish his PR due to overseas station and there is no way he could renew his REP when the time came to be renewed as he would be in overseas. Made matter worse his HQ was in Europe not SG base.
He would only return on his 7th year back to SG after his overseas posting and it was written in blood by his Europe HQ
Anyway, he spoken to IRAS then he came to me. IRAS wrote a letter for him and ICA wrote a letter based on his posting and his eventual return back to SG. In that letter ICA did NOT guarrantee immediate reinstatement but his PR application after 2 year of EP will be expedited i.e basically a sure thing. He was the CEO of an MNC on P1. True enough he gained his PR and now a SG citizen. I had another family and was on PR for 10 years when he has to be posted overseas.Children (boys) all are 2nd Gen PR
My point is Gahmen will bent some rules to accommodates those that they think justified to be accommodated . The key thing here is to seek help from IRAS and ICAs . If you think your circumstances is due to reason beyond your choice then there will be room for wiggling. It has to genuine and in all honesty the truth so help me GOD.

[hellodollar]

back in 2005, after renting for nearly 6 years (with approval from HDB), I tried to sell it in the Market. When contacted HDB & I learned more about surrendering process. You have to sign in selling documents that you will sell it back to HDB before they appraise your flat. Whatever the outcome of their appraisal is the FINAL sale price (no negotiation or no turning back ). It is a huge risk and I took it boldly (??) (not a whole lot of choices since the market was terrible). I got a better appraisal from HDB than my private one (which I did before trying to sell in the market). I just lucked out (I guess so!). Sure, I missed few heartbeats before seeing the appraisal results.

@Mad Scientist: Thank you for the details. I had a genuine reason (in my perspective) to move out of Singapore back in '98, as I was running my own small business & couldn't survive during the financial crisis.

[revhappy]

back in 2005, after renting for nearly 6 years (with approval from HDB), I tried to sell it in the Market. When contacted HDB & I learned more about surrendering process. You have to sign in selling documents that you will sell it back to HDB before they appraise your flat. Whatever the outcome of their appraisal is the FINAL sale price (no negotiation or no turning back ). It is a huge risk and I took it boldly (??) (not a whole lot of choices since the market was terrible). I got a better appraisal from HDB than my private one (which I did before trying to sell in the market). I just lucked out (I guess so!). Sure, I missed few heartbeats before seeing the appraisal results.

@Mad Scientist: Thank you for the details. I had a genuine reason (in my perspective) to move out of Singapore back in '98, as I was running my own small business & couldn't survive during the financial crisis.

Hey just curious, would it have been possible to just not renounce your PR? Your REP would have expired, but you are still a PR and hence you could still keep your HDB and keep collecting the rent? HDB rental yields cannot be got anywhere in the world.

[zzm9980]

back in 2005, after renting for nearly 6 years (with approval from HDB), I tried to sell it in the Market. When contacted HDB & I learned more about surrendering process. You have to sign in selling documents that you will sell it back to HDB before they appraise your flat. Whatever the outcome of their appraisal is the FINAL sale price (no negotiation or no turning back ). It is a huge risk and I took it boldly (??) (not a whole lot of choices since the market was terrible). I got a better appraisal from HDB than my private one (which I did before trying to sell in the market). I just lucked out (I guess so!). Sure, I missed few heartbeats before seeing the appraisal results.

@Mad Scientist: Thank you for the details. I had a genuine reason (in my perspective) to move out of Singapore back in '98, as I was running my own small business & couldn't survive during the financial crisis.

Hey just curious, would it have been possible to just not renounce your PR? Your REP would have expired, but you are still a PR and hence you could still keep your HDB and keep collecting the rent? HDB rental yields cannot be got anywhere in the world.

I'm pretty sure thats what those with Masters from Very Famous Universities have already figured out

[sundaymorningstaple]

back in 2005, after renting for nearly 6 years (with approval from HDB), I tried to sell it in the Market. When contacted HDB & I learned more about surrendering process. You have to sign in selling documents that you will sell it back to HDB before they appraise your flat. Whatever the outcome of their appraisal is the FINAL sale price (no negotiation or no turning back ). It is a huge risk and I took it boldly (??) (not a whole lot of choices since the market was terrible). I got a better appraisal from HDB than my private one (which I did before trying to sell in the market). I just lucked out (I guess so!). Sure, I missed few heartbeats before seeing the appraisal results.

@Mad Scientist: Thank you for the details. I had a genuine reason (in my perspective) to move out of Singapore back in '98, as I was running my own small business & couldn't survive during the financial crisis.

Hey just curious, would it have been possible to just not renounce your PR? Your REP would have expired, but you are still a PR and hence you could still keep your HDB and keep collecting the rent? HDB rental yields cannot be got anywhere in the world.

I'm pretty sure thats what those with Masters from Very Famous Universities have already figured out

zzm, you do realize that revhappy is a member of that group, right?

[zzm9980]

I've never seen him make silly posts about his Masters, so no, I didn't

[sundaymorningstaple]

Not so much masters but origins.

[revhappy]

back in 2005, after renting for nearly 6 years (with approval from HDB), I tried to sell it in the Market. When contacted HDB & I learned more about surrendering process. You have to sign in selling documents that you will sell it back to HDB before they appraise your flat. Whatever the outcome of their appraisal is the FINAL sale price (no negotiation or no turning back ). It is a huge risk and I took it boldly (??) (not a whole lot of choices since the market was terrible). I got a better appraisal from HDB than my private one (which I did before trying to sell in the market). I just lucked out (I guess so!). Sure, I missed few heartbeats before seeing the appraisal results.

@Mad Scientist: Thank you for the details. I had a genuine reason (in my perspective) to move out of Singapore back in '98, as I was running my own small business & couldn't survive during the financial crisis.

Hey just curious, would it have been possible to just not renounce your PR? Your REP would have expired, but you are still a PR and hence you could still keep your HDB and keep collecting the rent? HDB rental yields cannot be got anywhere in the world.

I'm pretty sure thats what those with Masters from Very Famous Universities have already figured out

I am not really sure if its possible to lose REP and still retain HDB and hence it was a genuine question to the poster. I am contemplating of applying for PR soon and buy an HDB. In the event that I am not able to complete the minimum occupation and have to go back, I guess, I can seek permission to rent it out as a exception, since I am not in the country. Thats one thing I want to make sure and next thing is what if I am away and not able to get my REP renewed, will I have to force sell like the poster has mentioned?

[hellodollar]

if your REP expired and you can't renew your PR status, then you can't own a HDB flat. Either you have to surrender it back to HDB or sell it.

[zzm9980]

if your REP expired and you can't renew your PR status, then you can't own a HDB flat. Either you have to surrender it back to HDB or sell it.

But PR status doesn't expire, I thought only the REP does? That actually raises a question. If I'm stuck outside the country with an expired REP, can I apply for a job in Singapore, get it, and then use that to renew my REP? Can I just enter on a SVP, or would I need some kind of special visa?

And RevHappy , it wasn't even implied as anything snide, I was making a joke as I actually just learned myself this was a common scam Why even bother with an HDB though? I've looked myself, and it seems for what you need up front for down+COV, might as well just put it down on a private condo