Buying a home: stamp duty and foreign buyers

Stamp duty on the contract

A contract to buy property in Singapore is charged with the same ad valorem duty as if it were the transfer itself, and the buyer pays it.

Stamp Duties Act s 22(1)

All documents charged with duty must be duly stamped.

Stamp Duties Act s 4(2)

Stamping on time

If a document drawn up in Singapore is stamped within 14 days after it is first signed there, only the duty is payable. Stamped later but within 3 months, it also carries a penalty of $10 or the amount of duty owed, whichever is greater. After 3 months, the penalty is $25 or 4 times the duty owed, whichever is greater.

Stamp Duties Act s 46(1)

The Commissioner may reduce or remit a penalty.

Stamp Duties Act s 46(2)

If you are not a citizen

A foreign person must not buy residential property, except as the Residential Property Act allows.

Residential Property Act s 3(1)

A purchase of residential property by a foreign person that breaks this rule is void.

Residential Property Act s 3(2)

A foreign person who wants to buy residential property other than "non-restricted residential property" has to apply to the Minister for approval.

Residential Property Act s 25(2)

This guide does not cover buying a flat from HDB.