What KYC is required for foreign buyers in Singapore real estate

Salespersons must take reasonable steps to confirm a foreign buyer’s identity (for example, by checking passport details) and verify that the buyer meets the legal age requirement for property ownership (generally 21). If the foreign buyer is acquiring restricted residential property, they must obtain approval from the Land Dealings (Approval) Unit. If the identity cannot be verified or if suspicious activities are suspected, the salesperson must submit information to the authorities. Failure to do so may lead to investigation or penalties.