The sign for en bloc.

[Arcachon]

13 Mar 2017

Singapore property market finally sees slight easing - and a new stamp duty

https://s3-ap-southeast-1.amazonaws.com/static.streetsine/Online%20Communication%20Channels/MCR/2017-03-13/130317094012-3.1-Property-Cooling-Measures-700x810.jpg

[Arcachon]

CapitaLand had in January sold its 100 per cent stake in Nassim Hill Realty, which owned the remaining 45 units at The Nassim, to Wee Cho Yaw's family firm Kheng Leong for S$411.6 million.

Only a tax of 0.2 per cent of the net asset value was levied for this transfer. If it was a direct purchase of a residential property, it would have incurred a buyer's stamp duty and also the ABSD.

In an extremely rare move on Friday, an amendment to the Stamp Duties Bill was introduced - and passed - within the same sitting in Parliament. This will close up the stamp duty rate differential, said Lawrence Wong, Second Minister for Finance, who introduced the amendment.

https://www.iras.gov.sg/irashome/uploadedFiles/IRASHome/e-Tax_Guides/Additional%20Conveyance%20Duties%20(ACD)%20On%20Residential%20Property-Holding%20Entities.pdf

[Werther]

CapitaLand had in January sold its 100 per cent stake in Nassim Hill Realty, which owned the remaining 45 units at The Nassim, to Wee Cho Yaw's family firm Kheng Leong for S$411.6 million.

Only a tax of 0.2 per cent of the net asset value was levied for this transfer. If it was a direct purchase of a residential property, it would have incurred a buyer's stamp duty and also the ABSD.

In an extremely rare move on Friday, an amendment to the Stamp Duties Bill was introduced - and passed - within the same sitting in Parliament. This will close up the stamp duty rate differential, said Lawrence Wong, Second Minister for Finance, who introduced the amendment.

https://www.iras.gov.sg/irashome/uploadedFiles/IRASHome/e-Tax_Guides/Additional%20Conveyance%20Duties%20(ACD)%20On%20Residential%20Property-Holding%20Entities.pdf

Bro, I dont quite understand the above. Can explain in simple term bo?

As for the PR new measures, is it true that invest $2.5M can get PR ?

Thank you

[Arcachon]

As for the PR new measures, is it true that invest $2.5M can get PR ?

Thank you

https://www.straitstimes.com/business/economy/pr-scheme-updated-to-woo-new-groups-of-foreign-investors

https://www.straitstimes.com/sites/default/files/articles/2020/01/29/st_20200129_ytgip15fn_54105.jpg

https://www.straitstimes.com/business/global-investor-programme-approved-fund-under-scrutiny

The GIP aims to attract high-level investors and entrepreneurs to live in Singapore, allowing foreigners to apply for permanent residency if they invest at least $2.5 million to start or expand a business here, or in a GIP fund that invests in Singapore-based companies. It is run by Contact Singapore, a division of the Economic Development Board (EDB).

[Arcachon]

Bro, I dont quite understand the above. Can explain in simple term bo?

Thank you

The above are loopholes closed by the government.

Wee Cho Yaw's family firm Kheng Leong was able to purchase the property paying Only a tax of 0.2 per cent of the net asset value was levied for this transfer for S$411.6 million.