Residential Property Act 1976 · 2020 Revised Edition · Part 2 · Prohibition on Purchase or Acquisition of Residential Property by Foreign Persons
5. Disposal of estate or interest in residential property by foreign companies
Feedback & supportWhere, on 11 September 1973, a foreign company is the owner of an estate or interest in any residential property in Singapore, the foreign company is bound to dispose of the same in accordance with this section, unless such foreign company is permitted to retain its estate or interest in the residential property by virtue of section 25 or the residential property or such foreign company is exempted under section 32.
foreign company
“foreign company” means any company (whether a holding company or otherwise) other than a Singapore company;
Where, between 11 September 1973 and 1 October 1976, any foreign company was granted approval by the Minister to purchase or acquire any residential property from another foreign company or a Singapore company pursuant to any scheme or arrangement of whatever nature whereby the second‑mentioned foreign company or Singapore company transfers or agrees to transfer the whole or part of its assets or undertaking to the firstmentioned foreign company, including its interests in residential properties in Singapore, whether for consideration or otherwise, the firstmentioned foreign company is, despite the grant of such approval, subject to this section.
Every foreign company to which this section applies must, within such period as the Minister may, by notification in the Gazette, direct, provide to the Controller a return setting out the size, location and nature of its estate or interest in all its residential properties and such other particulars as the Controller may require.
Controller
“Controller” means the Controller of Residential Property and includes a Deputy and an Assistant Controller of Residential Property appointed under section 29;
Where the Controller is satisfied that a foreign company which is required by subsection (1) to dispose of an estate or interest in any residential property in Singapore has failed to dispose of the same on or before 11 September 1983 (or within such further period as the Minister may, by notification in the Gazette, appoint), the Controller may give directions in writing to the foreign company to transfer all its estate or interest in its residential property to any citizen or approved purchaser within such period as the Controller may specify being a period of not less than 90 days and not more than 6 months of the date of service of the direction on the foreign company.
residential property
“residential property” includes —(a)any vacant land upon which no building or other structure exists or any land upon which exists any building or other structure which is constructed or used contrary to any written law;(b)any house, building or other premises or any part thereof which is permitted to be used pursuant to the Planning Act 1998 or any other written law as a dwelling house or which is lawfully so used;(c)any land zoned for residential purposes in the Master Plan; and(d)such other land or building, in whatever manner zoned in the Master Plan, as the Minister may, by notification in the Gazette, declare to be residential property for the purposes of this Act,but does not include —(e)any land, whether or not vacant, which is zoned for industrial or commercial purposes or both such purposes in the Master Plan or which is permitted to be used pursuant to the Planning Act 1998 or any other written law solely for industrial or commercial purposes or both such purposes;(f)any house, building or other premises, or any part thereof, which is permitted to be used pursuant to the Planning Act 1998 or any other written law solely for industrial or commercial purposes or both such purposes or which is lawfully so used;(g)any hotel registered under the provisions of the Hotels Act 1954; and(h)such other land or building, in whatever manner zoned in the Master Plan, as the Minister may, by notification in the Gazette, declare to be industrial, commercial or non‑residential property for the purposes of this Act;
A direction given by the Controller under subsection (4) must be served upon the foreign company which is required to transfer its estate or interest in any residential property and its subsisting mortgagees or chargees (if any) who appear as such in the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority, as the case may be.
to transfer
“to transfer”, with reference to residential property, means to convey, sell, assign, settle, create by declaration of trust, assent or in any manner dispose of any estate or interest in residential property, and includes the vesting of any estate or interest in residential property, but does not include a transfer by way of mortgage, charge or reconveyance; and
A foreign company which is directed by the Controller to transfer its estate or interest in any residential property and its subsisting mortgagees or chargees who appear as such in the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority (as the case may be) may apply within 60 days of the date of service of the Controller’s direction to the Minister for an extension of the time specified by the Controller under subsection (4) to dispose of the estate or interest in the residential property owned by the foreign company and the Minister may, in his or her discretion, refuse to grant any extension or may grant such an extension of time as the Minister may think fit for the transfer of the estate or interest in the residential property owned by the foreign company to any citizen or approved purchaser.
transfer
“transfer” includes a conveyance, sale, assignment, settlement, declaration of trust, assent, disposition of whatever nature, the vesting of any estate or interest in residential property by an instrument or under a vesting order of court and every instrument capable of vesting any estate or interest in residential property upon registration of such instrument by the Registrar, but does not include a mortgage, charge or reconveyance.
Where a foreign company which is directed under subsection (4) to dispose of its estate or interest in any residential property does not satisfy the Controller that it has transferred its estate or interest within the period or within any extension of time granted under subsection (6), the Minister may issue to the Controller a notice to attach and sell the estate or interest in that residential property, and a copy of the notice must be served on —
notice to attach and sell
“notice to attach and sell” means any notice issued by the Minister under section 3(6), 3A(3), 4(8), 5(7), 9(11), 22(3), 27(3) or 32(2A) directing the Controller to attach and sell in accordance with this Act such estate or interest in such residential property or land as is specified in the notice;
the foreign company which is the owner of the estate or interest in the residential property; and
each subsisting mortgagee or chargee (if any) who appears as such in the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority, as the case may be.