Singapore legislation
Regulation 2
of Stamp Duties (Free Trade Agreements) (Remission of ABSD) Rules 2013
Regulation 2
Definitions
Subregulation 1
In these Rules —
Definition
“additional buyer’s stamp duty” or “ABSD” means the duty referred to in paragraph (bf), (bh) or (bi) of Article 3 of the First Schedule to the Act;
Definition
“identifiable individual beneficiary” has the meaning given by paragraph (1A) (read with paragraph (1B)) of Article 3 of the First Schedule to the Act;
Definition
“qualifying foreigner” means —
a national of the United States, as defined in Title III of the Immigration and Nationality Act of the United States; or
an individual having the nationality or permanent residence of the Republic of Iceland, the Principality of Liechtenstein, the Kingdom of Norway or the Swiss Confederation,and includes an individual referred to in paragraph (a) or (b) of this definition who is also a permanent resident of Singapore;
Definition
“section 74 Rules” means any Rules made under section 74 of the Act other than these Rules.
Subregulation 2
In these Rules, a reference to joint purchasers, grantees, transferees or lessees is a reference to persons to whom the residential property in question is sold, conveyed, transferred or assigned as joint tenants or as tenants in common.
Subregulation 3
In these Rules, except where the residential property is to be held as property of a business trust or a collective investment scheme or as partnership property, a reference to a purchaser, grantee, transferee or lessee, in a case where he is to hold the residential property on trust, is a reference to the beneficial owner; and where there is more than one beneficial owner (whether or not including the purchaser, grantee, transferee or lessee himself), all the beneficial owners shall be treated as joint purchasers, grantees, transferees or lessees.
Subregulation 4
Paragraph (3) only applies to an instrument executed before 9 May 2022.