Singapore legislation
Clause 14
Clause 14
Residential property not to be purchased or acquired by a citizen or an approved purchaser as a nominee of a foreign person
(1)
No —
citizen or approved purchaser shall purchase or acquire any estate or interest in any residential property as a nominee of any foreign person with the intention that such citizen or approved purchaser shall hold it in trust for such foreign person; and
foreign person shall authorise or appoint as his nominee any citizen or approved purchaser to purchase or acquire any estate or interest in any residential property with the intention that such citizen or approved purchaser shall hold it in trust for such foreign person.
(2)
Any trust created in whatever manner or form pursuant to subsection (1) of this section shall be null and void and there shall be no resulting trust in favour of the foreign person; and any contract or covenant between such citizen or approved purchaser and the foreign person in respect of such residential property or any estate or interest therein shall be null and void.
(3)
The Registrar, upon discovering that any instrument of transfer contains any such void trust and such instrument is pending final registration or has been finally registered with the Registrar, shall enter a note in such instrument or the registration copy thereof, as the case may be, stating that such trust is null and void by virtue of subsection (2) of this section.