Simply put, you're considered a foreigner if you are not a Singapore citizen, a Singapore company, a Singapore limited liability partnership or a Singapore association. As such, Singapore Permanent Residents (SPRs) are also considered foreigners.
ABSD is a tax that’s levied on top of Buyer's Stamp Duty (a tax that property buyers have to pay when they buy a property), and it's computed based on the valuation or the selling price of the property, whichever is higher.
|What Singapore PRs can buy||What non-Singapore PRs can buy|
|Resale HDB flats (with another Singapore PR or Singaporean)||Private condos|
|Resale ECs that has reached their 5-year MOP||Private ECs|
|Privatised ECs||Landed properties in Sentosa Cove|
|Private condos||Landed properties (with special permission from Singapore Land Authority)|
|Landed properties in Sentosa Cove|
|Landed properties (with special permission from Singapore Land Authority|
However, Nationals or Permanent Residents of five countries will be accorded the same Stamp Duty treatment as Singapore Citizens. This is a result of the Free Trade Agreements signed with the United States of America and the European Free Trade Association (EFTA)
No ABSD FOR
Foreign investors who are eligible can submit an application of remission through your legal representative who can manage your stump duty transactions with the Inland Revenue Authority of Singapore (IRAS) on your behalf.
From Jan 2022, Foreigners: 30% ABSD for any property purchase.
Purchase a property at $1.5 mil
Stamp Duty Calculation
|1% of the first S$180,000||$180,000 x 1% = S$1,800|
|2% of the next S$180,000||$180,000 x 2% = S$3,600|
|3% of the next S$640,000||$640,000 x 3% = S$19,200|
|Remaining Amount of S$1,000,000||$500,000 x 4% = S$20,000|
|30% of the Purchase Price||$1500000 x30 % = S$450000|
|Total Stamp Fee for S$1.5 MILLIONS worth Property Purchase: S$494,600|