Cut ties with Singapore and lose your right to own land

SINGAPORE - Those who cut their ties with Singapore should not expect to own the city's scarce land resources.
That, according to analysts, is the message that the Government is sending through its Bill to amend the Residential Property Act, which was tabled in Parliament on Monday.

Individuals who give up their citizenship or PR status in Singapore will now have to dispose of their landed properties within two years.

The Bill, which is expected to be debated in Parliament next month, could be passed by the end of the year. It seeks to impose a penalty of $20,000 or a three-year jail term for failure to adhere to the rules.

Foreigners inheriting landed property will have to sell it in five years instead of the current 10. LINK