Monday, May 28, 2018

To Be A Property Developer in Singapore

To be a Developer



Q1: Who can be a developer?
Q2: What is the housing developer's licence?
Q3: Do I need to apply for a developer's licence even if I do not intend to sell any one of the units in my project?
Q4: What is a sale licence?
Q5: Where can I apply for a developer's licence?
Q6: My project is currently still under construction, but I have been granted the sale licence. Can I start selling the units in my development?
Q7: What is the fee payable for a developer's licence?
Q8: What are the requirements for a company to apply for the housing developer's Licence?
Q9: Are there any exemption with regards to licencing?
Q10: Do I need to apply for a housing developer's licence for every project that I intend to develop?
Q1: Who can be a developer?
Any individual, group of persons, society, or company can be a housing developer if they engages in or undertakes housing development.
However, a bank or an insurance company is not included if it only lends or provides money for housing development.

Q2: What is the housing developer's licence?
According to the Housing Developers (Control and Licensing Act) any housing developer who develops or provides the financing for the development of more than four residential units needs to apply for a developer's licence. The "housing developer" under the law could be a person; a group of persons, a society, or a company (except a bank or an insurance company), which engages in housing development.

Q3: Do I need to apply for a developer's licence even if I do not intend to sell any one of the units in my project?
As long as you are developing more than four residential units, you will have to apply for a developer's licence. However, you may apply for a non-sale licence if you do not intend to sell any of the units before a Temporary Occupation Permit (TOP) is issued.

Q4: What is a sale licence?
It is one of the two types of licence for developers, which allows the developer to sell units in his development before issue of the Temporary Occupation Permit (TOP). The other type of licence is the no-sale licence which only permits a developer to sell any unit in a development after TOP.

Q5: Where can I apply for a developer's licence?
You may apply to :

The Controller of Housing
Urban Redevelopment Authority
The URA Centre
45 Maxwell Road                                                                                    
Singapore 069118
Tel:(65)2234811
Fax: (65) 2274772
Download the Application Form

Q6: My project is currently still under construction, but I have been granted the sale licence. Can I start selling the units in my development?
No. Even if you have been granted the sale licence, you must still obtain the Building Plan Approval before you can sell the units in your development.

Q7: What is the fee payable for a developer's licence?
Size of housing Fee
a) Not more than 10 units $1,500
b) 11-50 units $3,000
c) 51- 100 units $4,500
d) 101- 200 units $6,000
e) 201- 400 units $7,500
f) More than 400 units $9,000

Q8: What are the requirements for a company to apply for the housing developer's licence?

a) Paid-up capital - The company needs to have a minimum paid-up capital of $1 million, and a minimum of S$100,000 for a sale licence and non-sale licence respectively.
b) Acceptable track record - The company must have completed satisfactory to Temporary Occupation Permit a licenced housing project (five units and above) within the last five years.
For applicants with non-residential development experience or with development experience overseas, their track record would be considered by the Controller of Housing. The acceptability of their track record is at the Controller's discretion.

Q9: Are there any exemption with regards to licensing?
Yes, however, it is rare, if any at all, that a private housing developer is granted such an exemption.

Q10: Do I need to apply for a housing developer's licence for every project that I intend to develop?
Yes. For every project, you must apply for a seperate licence. The licence is granted on a project-by-project basis and only be applicable for one project.

Please refer to our section on Project Account for more details.

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