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While a company may purchase house property in Singapore, there are certain laws and restrictions that apply. The government of Singapore controls foreign ownership of private residences with a view to ensuring that housing remains affordable to citizens and permanent residents. Companies, particularly those which, under Singaporean law, are considered "foreign entities," have certain restrictions when trying to acquire residential properties.

  1. Ownership Restrictions: According to the Residential Property Act, any company that is incorporated outside Singapore, or with foreign shareholders, is considered a foreign company. Generally speaking, it prohibits a foreign company from acquiring landed residential property like bungalows and semi-detached houses unless explicit approval is given by SLA. This is seldom granted and is usually granted to companies contributing much to the country's economy.
  2. Foreign Entities' Approved Properties: Most companies are only allowed to purchase residential property units, which are normally situated within certain non-landed properties, like apartments and condominiums in designated developments. If a foreign company wants to acquire such residential properties, an Additional Buyer's Stamp Duty, or ABSD, of 30% of the value is charged, thus making the transaction quite costly.
  3. Exemptions and Permissions: Resident companies with purely Singaporean or permanent resident shareholders may purchase residential property with fewer hindrances. Again, those entities falling under "housing developers" may buy residential property but again must meet some criteria such as acquiring a Qualifying Certificate or QC from the Controller of Housing.

Summary

Certain conditions also allow a company to purchase residential property in Singapore. The conditions can be approved, and the structure of taxes is based on ownership. Legal and property experts would make sure that all laws related to properties in Singapore are complied with, and suitable investment opportunities, within these guidelines, would be brought out.

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