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Property Purchase

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vb2011
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Property Purchase

Postby vb2011 » Mon, 16 Apr 2012 2:44 am

Dear All,

Has anyone tried to purchase a property here in Singapore while you are still working here in any Singapore pass?

Can anyone share how they have able to do it?

Their contacts and who to go to?



P.S Dear Admin,

I could not find the area of which to post this. Please feel free to move it to another section that is connected to my query . thanks
Vincent

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Postby bluenose » Mon, 16 Apr 2012 7:05 am

I purchased a condo here last year...no issues if you have the money.

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Postby sundaymorningstaple » Mon, 16 Apr 2012 8:14 am

Our hosts here at Singapore Expats will get you sorted with no problem.

vb2011
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Postby vb2011 » Mon, 16 Apr 2012 12:41 pm

bluenose wrote:I purchased a condo here last year...no issues if you have the money.


Hi Bluenose,

Can you share me on how you did it? Who are your contacts that help you ?

Like lawyers who helped you, I am afraid that it might be a problem working here and purchase a condo for rent.

It state in the MOM that we could not engage in any business or self employed in this country while still working in Singapore

Please advise.

Thanks
Vincent

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Postby JR8 » Mon, 16 Apr 2012 4:36 pm

So your question is, is operating as a landlord considered as running a business?

I'd imagine if you did it in a personal capacity rather than incorporating it the answer would be no, but if I were you I'd contact MoM and ask them.

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Postby vb2011 » Mon, 16 Apr 2012 7:38 pm

JR8 wrote:So your question is, is operating as a landlord considered as running a business?

I'd imagine if you did it in a personal capacity rather than incorporating it the answer would be no, but if I were you I'd contact MoM and ask them.


Is a landlord considered as a self employed? It stated in the MOM that we as pass holders could not engage in any business or self employed.

Do you think its better to contact a lawyer if this is possible?

Has anyone tried this yet?
Vincent

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Postby JR8 » Mon, 16 Apr 2012 7:44 pm

vb2011 wrote:
JR8 wrote:So your question is, is operating as a landlord considered as running a business?

I'd imagine if you did it in a personal capacity rather than incorporating it the answer would be no, but if I were you I'd contact MoM and ask them.


Is a landlord considered as a self employed? It stated in the MOM that we as pass holders could not engage in any business or self employed.

Do you think its better to contact a lawyer if this is possible?

Has anyone tried this yet?



No I think you should simply ask MoM. It is a very black and white question.

I appreciate that sub-continentals always prefer to engage agents, intermediaries, experts, gurus, friends, and what ever else rather than just dealing directly with the people that have the immediate answer... but really...

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Postby vb2011 » Mon, 16 Apr 2012 7:49 pm

JR8 wrote:
vb2011 wrote:
JR8 wrote:So your question is, is operating as a landlord considered as running a business?

I'd imagine if you did it in a personal capacity rather than incorporating it the answer would be no, but if I were you I'd contact MoM and ask them.


Is a landlord considered as a self employed? It stated in the MOM that we as pass holders could not engage in any business or self employed.

Do you think its better to contact a lawyer if this is possible?

Has anyone tried this yet?



No I think you should simply ask MoM. It is a very black and white question.

I appreciate that sub-continentals always prefer to engage agents, intermediaries, experts, gurus, friends, and what ever else rather than just dealing directly with the people that have the immediate answer... but really...



Thanks,

I'll give it a try...
Vincent

vb2011
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Postby vb2011 » Mon, 16 Apr 2012 7:50 pm

vb2011 wrote:
bluenose wrote:I purchased a condo here last year...no issues if you have the money.


Hi Bluenose,

Can you share me on how you did it? Who are your contacts that help you ?

Like lawyers who helped you, I am afraid that it might be a problem working here and purchase a condo for rent.

It state in the MOM that we could not engage in any business or self employed in this country while still working in Singapore

Please advise.

Thanks


Hi Bluenose,

can you share me how you did it?

Have you also let your property be rented?

Please let me know.

Thanks
Vincent

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JR8
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Postby JR8 » Mon, 16 Apr 2012 7:53 pm

:roll:


lol! :lol:

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Postby vb2011 » Mon, 16 Apr 2012 7:54 pm

JR8 wrote::roll:


lol! :lol:


hehehe,

just want to know how he did it as well..
Vincent

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Postby sundaymorningstaple » Mon, 16 Apr 2012 8:09 pm

This one DEFINITELY has a masters! :roll:

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Re: Property Purchase

Postby Strong Eagle » Mon, 16 Apr 2012 10:22 pm

vb2011 wrote:Dear All,

Has anyone tried to purchase a property here in Singapore while you are still working here in any Singapore pass?

Can anyone share how they have able to do it?

Their contacts and who to go to?



P.S Dear Admin,

I could not find the area of which to post this. Please feel free to move it to another section that is connected to my query . thanks


Anyone can purchase certain types of properties in Singapore. Other types, like semi-D's and landed properties like shop houses can only be purchased by Singapore citizens.

How do you do it? You find something you want to buy. You go to the owner's agent and make an offer. You pay them money. Presto. You own an property. That answers the questions you asked, doesn't it?

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Re: Property Purchase

Postby vb2011 » Mon, 16 Apr 2012 11:49 pm

Strong Eagle wrote:
vb2011 wrote:Dear All,

Has anyone tried to purchase a property here in Singapore while you are still working here in any Singapore pass?

Can anyone share how they have able to do it?

Their contacts and who to go to?



P.S Dear Admin,

I could not find the area of which to post this. Please feel free to move it to another section that is connected to my query . thanks


Anyone can purchase certain types of properties in Singapore. Other types, like semi-D's and landed properties like shop houses can only be purchased by Singapore citizens.

How do you do it? You find something you want to buy. You go to the owner's agent and make an offer. You pay them money. Presto. You own an property. That answers the questions you asked, doesn't it?


Hi Strong Eagle,

I am looking for a property to buy and have it rented. The thing is i heard it can be done. I am looking for someone who have already tried it.

Singapore law when it comes to this always have so many things to consider. Especially foreign work pass and MOM has a law against working or self employed.

If I have a property and have it for rent. There is also rental tax that need to be payed as well.am I right?

So if anyone has the knowledge of doing this it sure would be a great help.

I haven't known someone who is a Foreigner working in Singapore and bought a property here and change and have it rented.
Vincent

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Postby bluenose » Tue, 17 Apr 2012 7:09 am

I have posted a reply to you via PM to answer your questions...


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