An investor who is registered with the Economic Development Board may apply for an authorisation to acquire an immovable property or part of a building for business purposes, or for the lease of immovable property or part of a building for a period exceeding 20 years for business purposes.
Business purpose means the acquisition or holding of property by non-citizens for:-
(a) the development of high activity commercial use building including, but not limited to, shopping mall, office building or warehouse, for own use, sale, rental or lease;
(b) the development of residential properties developed under the Property Development Scheme and Smart City Scheme; and
(c) any other activity carried out for reward, gain or profit but excluding –
i. the acquisition for resale or lease or rental of any bare land or serviced land; or
ii. the acquisition of immovable property to be used as apartments, penthouses, villas, flat, tenement or similar properties to be used or available for use as residence except where they are developed under the Property Development Scheme, Smart City Scheme or Invest Hotel Scheme.
A non citizen can also apply for an authorisation to acquire a guest house, tourist residence , hotel or restaurant but conditions apply.
