Does PR allowed to retain property after giving up status ?

 

   -> Tan Chuan-Jin

I have received a few queries about ex-PRs and the status of their properties owned. Let me amplify this further. I understand now that it is a result of the initial inaccurate CNA report that was taken down. Lina Chiam asked a few follow up questions. It was unrelated to her PQ. I asked her to file a separate PQ but replied to the effect that that there was no reason why PRs who are able to own their private properties should not be able to continue to do so.

I guess if a formal PQ was filed, a fuller answer would be along these lines. But these are formal regulations that are in place and will take effect anyway:

When PRs give up their PR-ship, they are effectively foreigners. Obviously, resale HDB flats owned by former PRs have to be sold and they are not allowed to hold on to that (PRs cannot buy BTO flats, only resale ones). It is not even a choice as HDB will effect this.

Foreigners can buy private properties (private condos) so no reason why PRs cannot hold to these.

These are also very specific guidelines on landed property. The long and short of it is that on giving up PR-ship, the individual, if he has a landed property, has to give up that property. Foreigners cannot own landed property (save Sentosa Cove).

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image from  Fabrications About The PAP

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