FTA ABSD Remission Singapore: Eligibility Rules & Guide | Homejourney

Executive Summary: Your Definitive Guide to FTA ABSD Remission Eligibility in Singapore

Singapore's Additional Buyer's Stamp Duty (ABSD) can reach 60% for foreigners in 2026, but nationals of the US and EFTA countries (Iceland, Liechtenstein, Norway, Switzerland) may qualify for full remission on their first residential property under Free Trade Agreements (FTAs).[1][3] This FTA eligibility ABSD remission treats qualifying buyers like Singapore Citizens, paying zero ABSD—just Buyer's Stamp Duty (BSD).[1][2]

Homejourney, prioritizing user safety and trust, delivers this exhaustive pillar guide with official IRAS rules, step-by-step processes, real examples, and insider tips verified through transparent data.[1][2] Whether you're a first-time US buyer eyeing a condo in Orchard or a Swiss investor in Sentosa Cove, master remission requirements, avoid pitfalls, and navigate 2026 market dynamics confidently with Homejourney's verified insights.

US & EFTA FTAs: How ABSD Remission Works
Strict Eligibility Criteria for FTA ABSD Remission
Required Documents & Proof of Nationality
Step-by-Step Application Process
Eligible Property Types & Restrictions
2026 Market Data & Investment Trends
Financing Options, Costs & CPF Rules
8 Common Mistakes to Avoid
Special Cases: Spouses, Joint Buys & Trusts
Frequently Asked Questions
Next Steps with Homejourney

US & EFTA FTAs: How ABSD Remission Works

The US-Singapore Free Trade Agreement (USSFTA, 2004) and EFTA-Singapore FTA (ESFTA) grant "national treatment," equating eligible foreigners' stamp duty to Singapore Citizens.[1][3] For first residential purchases, this means zero ABSD—only BSD at progressive rates up to 6%.[1][8]

IRAS confirms: Nationals/permanent residents of Iceland, Liechtenstein, Norway, Switzerland (EFTA), and US nationals receive citizen-level treatment on their first property.[1][3] Subsequent buys follow citizen ABSD rates (e.g., 20% on second).[2] This is a legal obligation, not a loophole, with ~250 annual remittances averaging S$150M pre-2023.[5]

In 2026, amid cooling measures, foreigners face 60% ABSD, making FTA remission crucial for affordability—saving S$1.2M on a S$2M condo.[2][8] Homejourney verifies eligibility pre-purchase for safe transactions.

Key Differences: FTA vs Standard Foreign ABSD

Buyer Type	First Property ABSD	Example: S$2M Condo
SG Citizen	0%	S$0
FTA Eligible (US/EFTA)	0% (remitted)	S$0
Other Foreigners	60%	S$1.2M

Source: IRAS 2026 rates.[8] BSD extra on all.

Strict Eligibility Criteria for FTA ABSD Remission

To qualify ABSD exemption, meet these IRAS conditions:[1][3]

Nationality: US citizen (passport holders only, not green card); EFTA: nationals/PR of Iceland, Liechtenstein, Norway, Switzerland.[1][3]
First Property: No prior residential ownership in Singapore (HDB, condo, landed).[1][2]
Individual Buyer: Applies to persons, not companies/trusts (special trust rules apply).[1]
Residential Use: Must be residential property; commercial ineligible.[8]

Insider tip: Prior overseas ownership doesn't count—only Singapore records via IRAS declaration.[2] Homejourney cross-checks via Projects Directory for ownership history.

Example: A Norwegian PR buying their first Singapore condo in District 10 (e.g., near IE MRT, 5-min walk) qualifies fully.[3] Spousal rules allow joint first buys.[7]

Required Documents & Proof of Nationality

Prepare these for FTA conditions property remission:[1][2]

Color copy of valid passport (US/EFTA pages showing nationality).[1]
Sale & Purchase Agreement (SPA) or Option to Purchase.[1]
IRAS declaration: No prior Singapore residential ownership.[2]
For trusts: Trust instrument + SPA.[1]
Financing docs if applicable (bank statements).[2]

Homejourney's secure upload verifies docs pre-SPA, preventing rejections—essential for trust in high-stakes buys.

Step-by-Step Application Process

Remission isn't automatic—apply via IRAS myTax Portal.[1][4]

Pre-Purchase: Confirm eligibility with Homejourney; search verified listings on Property Search .
Exercise Option (Week 0): Pay deposit; note SPA date.
Stamping (14 Weeks): Pay BSD + provisional ABSD via e-Stamping.[8]
Apply Remission (Within 14 Days): myTax Portal > Request > Apply for Assessment/Appeal. Upload docs, specify FTA.[1]
Approval & Refund (2-4 Weeks): IRAS processes; refund to payer.[2][4]
Completion (3-6 Months): Title transfer.

Total timeline: 3-6 months. Track via Homejourney dashboard for transparency.

Eligible Property Types & Restrictions

All residential qualify: Condos, executive condos (post-MOP), landed (with SLA approval for non-CC).[2][8] HDB ineligible for foreigners.[2]

Condos: Ideal first buy (e.g., S$1.8M in Tanjong Pagar, 3-min to MRT).Types of Properties Foreigners Can Buy in Singapore | Homejourney
Landed: Good Class Bungalows need extra approval; remission applies post.[3]
Non-Eligible: Commercial, overseas properties don't count against.[1]

See Projects for FTA-eligible projects with market data.

2026 Market Data & Investment Trends

2026 sees stable prices; Core Central Region (CCR) condos average S$2.2M, up 2% YoY.Straits Times Housing News FTA buyers favor Districts 9-10 (Orchard/Tanglin), with 15% foreign transactions.[5]

Trends: US buyers target rentals (4-5% yields in Novena); EFTA prefer family homes near schools (e.g., Swiss in Bukit Timah).[2] ~250 FTA deals yearly = 2.5% of ABSD properties, saving S$150M.[5]

Original Insight: Post-2023 hikes, FTA remission boosts ROI by 20-30% on leveraged buys—calculate via ABSD Stamp Duty Calculator & Guide 2026 | Homejourney .

Financing Options, Costs & CPF Rules

Foreigners: 75% LTV max, TDSR 55%.No CPF for non-PR.

Cost Item	S$2M Condo Example
BSD	S$102K
ABSD (FTA Remitted)	S$0
Legal Fees	S$5-10K
Total Upfront	S$600K (30%)

Check Bank Rates for foreigner loans (2.5-3.5% rates). Post-purchase, maintain via Aircon Services .

8 Common Mistakes to Avoid

Missing 14-day remission window—refund denied.[1]
Green card holders claiming US eligibility—no, passport only.[2]
Prior Singapore ownership overlooked (even sold).[2]
Trust buys without extra docs—delays.[1]
Ignoring SLA for landed—double approvals.[3]
Joint non-FTA spouse—partial ABSD.[7]
No pre-verification—Homejourney prevents this.
Assuming HDB eligibility—foreigners can't.[2]

Real Example: 2024 US buyer in Holland Village lost S$300K remission for late filing—use Homejourney timelines.

Special Cases: Spouses, Joint Buys & Trusts

Joint with SG spouse: ABSD Spouses Remission may apply separately.[6][7] US/EFTA + non-FTA spouse: FTA covers proportionate share if first property.[7]

Trusts: Submit instrument + SPA; 65% ABSD upfront, remit eligible portion within 6 months.[1][8] Homejourney lawyers handle complexities.

Upgrade Tip: Sell first property within 6 months for second-buy remission (citizen rates).[6]

Frequently Asked Questions

What is FTA eligibility ABSD remission?
Full or partial ABSD refund for US/EFTA nationals on first Singapore residential buy, per FTAs.[1]

Who qualifies for ABSD exemption under FTA?
US citizens; EFTA nationals/PR. First property only.[1][3]

How to apply for FTA ABSD remission?
Via IRAS myTax post-stamping, with passport/SPA.[1]

Can joint buyers both claim FTA remission?
Yes, if both eligible and first property.[2][7]

Does prior US property affect eligibility?
No, only Singapore ownership counts.[2]

2026 ABSD rates for non-FTA foreigners?
60% first property.[8]

Timeline for remission refund?
2-4 weeks post-approval.[2][4]

Can FTA buyers purchase HDB flats?
No, requires PR.[2]

What if buying via trust?
Special application with docs; remission possible.[1]

Next Steps with Homejourney

1. Verify eligibility on Property Search .
2. Explore projects via Projects Directory .
3. Calculate costs with ABSD Stamp Duty Calculator & Guide 2026 | Homejourney .
4. Check financing Bank Rates .
5. Contact Homejourney for verified lawyers—your safe path to property success.

Disclaimer: Not legal/financial advice. Consult professionals. Rules per IRAS 2026; verify updates.[1][8]