For your reading pleasure. More details on ABSD. www.edgeprop.sg/property-news/property-unpacked-bsd-and-absd-industrys-most-dreaded-acronyms
@Susanne-zuku
10 ай бұрын
I watch several KZitem videos on how to trade in the stock market but haven't made any head start because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands
@MaryOlson7
10 ай бұрын
@AustinWalker67 I want to go into stock but i need a certified/registered professional who will guide and handle my account;;
@Susanne-zuku
10 ай бұрын
@@MaryOlson7 What is the name of your broker and how do i connect with him or her ?
@Susanne-zuku
10 ай бұрын
@AustinWalker67 Wow that was easy, i found her website and left a message for her . i hope she reply me. thanks.
@Amelia-Elizabeth
10 ай бұрын
@@Susanne-zuku Bridget Mary Turow her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy
@Kingsman-1981
2 жыл бұрын
Excellent 👌 informative
@mingproperty
2 жыл бұрын
Thank you 🙏😃
@mingproperty
2 жыл бұрын
From 16 December 2021, the Additional Buyer Stamp Duties (ABSD) for Foreigners was revised to 30%, from 20% before that day. Please take note.
@mingproperty
10 ай бұрын
From 27 April 2023, the new ABSD rate for foreigners buying any residential property in Singapore is adjusted to 60%.
@baktithaslim6677
4 ай бұрын
the foreigners should also be inform that they are not eligible for broadband plan, (that means no internet), if they are buying property as a foreigner (short term visit pass).
@mingproperty
4 ай бұрын
If you’re in Singapore for a short term visit, it’s recommended that you get the mobile data plan for tourist or subscribe to eSIM plans that’s quite economical during your stay. It is just not economical to subscribe to a broadband plan when you’re staying here for short term. Broadband plans have contract typically for 2 years.
@andyly6190
2 жыл бұрын
Hi Francis, Two questions; 1) How did the SG gov decided on those 5 countries that were exempt from ABSD? 2) Could a Foreigner open a Singapore Company and purchase property through the company and be exempt from ABSD? Thanks, really enjoyed the video btw.
@mingproperty
2 жыл бұрын
Hi Andy, I don’t have much details for the question 1 but from what I can gather from the IRAS website, it is part of the FTA with those countries. See the link here: www.iras.gov.sg/taxes/stamp-duty/for-property/appeals-refunds-reliefs-and-remissions/common-stamp-duty-remissions-and-reliefs-for-property/foreigners-eligible-for-absd-remission-under-free-trade-agreements-(ftas) For question 2, unfortunately no exemption. Purchase through company will attract higher ABSD. More details: www.iras.gov.sg/taxes/stamp-duty/for-property/buying-or-acquiring-property/additional-buyer's-stamp-duty-(absd)
@jafarjaman8514
2 жыл бұрын
Very wonderful explanation thanks sir
@mingproperty
2 жыл бұрын
Thanks Jafar. 😃👍
@gummo3q524
2 жыл бұрын
Very useful
@mingproperty
2 жыл бұрын
Glad to hear that
@festusclinton4879
3 жыл бұрын
Greetings, I am very grateful to come across this article today, thank you very much. Please, I am from Nigeria and live in Nigeria right now. But myself and my family are working to move to Singapore and resident there. I want to know how I can buy property in Singapore. I am totally a novice in this. I wish to get every help you can give, thank you very much
@mingproperty
3 жыл бұрын
Hello, when do you plan to be in Singapore?
@edselgreaves6503
2 жыл бұрын
Do they accept cash payment upfront for the entire asking price? I want to use my family inheritance to buy a condo in Singapore, but I prefer to buy with cash instead of getting a mortgage loan. I want to rent it out and get SGD rental income in case my country experiences hyperinflation some day.
@mingproperty
2 жыл бұрын
Cash payment is acceptable. However, please note that there will be various checks and verifications from govt authorities on all transactions.
@edselgreaves6503
2 жыл бұрын
@@mingproperty All transactions meaning the rental income I receive? I intend to pay taxes on it. It's all above board.
@mingproperty
2 жыл бұрын
I was referring to the purchase of property in Singapore. It's good to know it is all above board. Just additional information - purchases of property by anyone, local and foreigners, are subjected to AML process.
@rogerfaint499
2 жыл бұрын
Cash payment upfront is acceptable. I made a payment of close $10 million cash upfront for a detached house recently because I bought it as gift for my wife and did not want to have any mortgage on it since it was a gift.
@sudarshann.a.7304
Жыл бұрын
Hi, Very useful video. If a foreigner buys property in Singapore, what kind of a visa is he & his family eligible for? How soon is such a foreigner granted visas?
@mingproperty
Жыл бұрын
Thank you for your message. Buying a property and getting Visas are two separate matters. The best source of information on Visa is to check out www.ICA.gov.sg. You can also search for companies that handles relocation. They are in the best position to advice. Cheers.
@sudarshann.a.7304
Жыл бұрын
@@mingproperty hi, thanks for your prompt revert. Can you kindly suggest some reliable companies for the same?
@mingproperty
Жыл бұрын
Do a quick search on the Internet and you should be able to view some of them. Check a few of them for comparison and have a better understanding of what they have to offer.
@twobatibots626
Жыл бұрын
Hi, very informative video. Just wondering what options i have if Iam the only PR on the family? My wife and 2 kids are foriegner
@mingproperty
Жыл бұрын
Hello, if the purchase is with one PR and one foreigner, and not from any of the 5 countries mentioned, then the higher of the ABSD will apply, that is 30%. If the purchase is by only one PR, then the ABSD is 5% for the first property. Keep in mind also you will need to consider the BSD. This is payable by all, regardless of residential status.
@twobatibots626
Жыл бұрын
@@mingproperty thanks for quick answer. Meaning i could buy property. Right? Is 1PR eligible to buy Hdb or only condo?
@mingproperty
Жыл бұрын
Anyone can buy property in Singapore. 😃 the question is what type of property and its eligibility criteria. You can buy a unit in a condo and you’ll be subjected to the Additional Buyer Stamp Duty (ABSD). For HDB, you and your spouse will need to be a SPR for 3 years or more. If you’re the only PR in your family, you may not be eligible.
@MrCFreaks
Жыл бұрын
Hello, May I ask if me and my spouse are both SPR, what options do we have? And do we need to pay ABSD? Thanks a lot!
@mingproperty
Жыл бұрын
Hello, if both are SPR, you can buy HDB if you’ve been SPR 3 years or more. And, yes, ABSD is payable. Let me know if you need more info.
@source2112
Жыл бұрын
Its true that United State citizens are not subject to the 30% ABSD ?
@mingproperty
Жыл бұрын
Yes it is. Get in touch for more information. Cheers
@YaishKhan-z6r
5 ай бұрын
Minimum how much foreigners can buy apartment or flat or condo
@mingproperty
5 ай бұрын
There’s no minimum. Most private, non-landed properties, new and resale are available to foreigners.
@edyson4776
Жыл бұрын
Hello May i ask, what is the rule for foreingners to rent condo in singapore? Must greend card/permanent residence?
@mingproperty
Жыл бұрын
You’ll need to have a proper long term visit or working passes.
@farymaldonado3749
Жыл бұрын
Is there something close to “assuming” a property in Singapore ? Assuming someone else already established loan.
@mingproperty
Жыл бұрын
Could you elaborate further? We don’t quite understand your question. Thanks.
@farymaldonado3749
Жыл бұрын
@@mingproperty Wondering if there are people who give up on paying their condos and sell the remaining balance and another person takes over the bank payments. Thanks,
@mingproperty
Жыл бұрын
If someone has difficulty in paying off their mortgage, yes, they can decide to sell the property. Depending on the price it was sold, it could settle the remaining balance and settle the bank payments.
@jiti5034
2 жыл бұрын
Can Foreigners ( not working in Singapore) borrow from Singapore banks to purchase Investment property in Singapore?
@mingproperty
2 жыл бұрын
You will need to check with your preferred banks if they can extend their loan facilities to you.
@fonglim2394
Жыл бұрын
Is foreigner subject to tax on the rental and how much.
@mingproperty
Жыл бұрын
Thanks for your question. Anyone who owns a property and earns income from property rental will be subjected to paying income taxes. This includes foreigners. The rates will be either at a resident or non-resident tax rates. You can visit iras.gov.sg for more information.
@adp1261
2 жыл бұрын
Thanks for this informative Vlog on SG Realestate purchase!! Can foreigners purchase a landed property (10yrs aged) or 2Bedrm condo paid cash fully?
@mingproperty
2 жыл бұрын
Foreigners cannot buy a landed property. But there are exceptions, subject to approval. Buying a condo with cash is ok with the usual AML checks to go along.
@davinacampbell2221
2 жыл бұрын
What about a penthouse?
@mingproperty
2 жыл бұрын
Foreigners can own most penthouses in a non-landed private residential property. Additional buyer stamp duties applies.
@Ladakuda-vg4dc
Жыл бұрын
Can I get visa if I buy house in SG ?
@mingproperty
Жыл бұрын
Buying a property and getting a visa is two separate matter.
@silkyouth1
2 жыл бұрын
can foreigns buy resale hdb?
@mingproperty
2 жыл бұрын
Foreigner cannot buy HDB flat unless they are married to a Singapore Citizen.
@englishsongs7303
3 жыл бұрын
After buying a condominium, will I be able to live in Singapore??
@mingproperty
3 жыл бұрын
You’ll need to go through the process of applying for the various visa and long term passes. Just have to ensure you have valid passes to stay long term, then you can live in Singapore.
@englishsongs7303
3 жыл бұрын
@@mingproperty What should be the minimum value of property to be bought??
@mingproperty
3 жыл бұрын
There’s really no minimum. As a foreigner, you can buy most of the non-landed residential properties but you will need to consider both the buyer stamp duty and additional buyer stamp duty.
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