Executive Summary: Your Definitive Guide to FTA ABSD Remission Eligibility in Singapore
Singapore's Additional Buyer's Stamp Duty (ABSD) reaches 60% for most foreigners in 2026, but US nationals and EFTA country nationals (Iceland, Liechtenstein, Norway, Switzerland) can qualify for full FTA eligibility ABSD remission on their first residential property.[1][2]
This treats qualifying buyers like Singapore Citizens, paying zero ABSD—only Buyer's Stamp Duty (BSD) at progressive rates up to 6%.[1][2] Homejourney, prioritizing user safety, trust, and transparency, provides this exhaustive pillar guide with official IRAS rules, step-by-step processes, real 2026 examples, and verified insights to help you qualify ABSD exemption confidently.[1][2][3]
Whether you're a US buyer targeting a S$1.8M condo in Tanjong Pagar (3-min walk from MRT Exit A) or a Swiss investor eyeing Sentosa Cove landed properties, master remission requirements and FTA conditions property rules here.[1][3]
Table of Contents
- 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
Under Free Trade Agreements (FTAs) with the US and EFTA countries, qualifying nationals receive Singapore Citizen-level stamp duty treatment on their first residential property purchase.[2][3] This means full remission of the 60% ABSD, leaving only BSD payable.[1][2]
IRAS administers this as a legal obligation, not a discretionary waiver. Pre-2023 data shows ~250 annual remittances totaling S$150M, confirming its established use.[1][6] In 2026, with cooling measures intact, this remains a key advantage for eligible buyers.[5]
Key Insight: Remission applies only to the first property; second purchases follow Citizen ABSD rates (e.g., 20%). Overseas ownership does not count against eligibility.[2][3]
Key Differences: FTA vs Standard Foreign ABSD
| Buyer Type | First Property ABSD | Example: S$2M Condo |
|---|---|---|
| SG Citizen | 0% | S$0 ABSD |
| FTA Eligible (US/EFTA) | 0% (remitted) | S$0 ABSD |
| Other Foreigners | 60% | S$1.2M ABSD |
Source: IRAS 2026 rates. BSD applies additionally to all (up to 6%).[2][5]
Strict Eligibility Criteria for FTA ABSD Remission
To qualify ABSD exemption, buyers must meet precise IRAS conditions rooted in FTA terms.[2] First, nationality: US passport holders (citizens only, not green card holders) or nationals/permanent residents of Iceland, Liechtenstein, Norway, Switzerland.[2][3]
Second, it must be your first residential property in Singapore—no prior HDB, condo, or landed ownership.[1][2] Third, purchase as an individual (companies/trusts have separate rules).[2] Residential properties only; commercial ineligible.[5]
Insider Tip: Homejourney verifies eligibility pre-offer via secure document upload, preventing costly rejections in Singapore's fast-moving market.[1]
Required Documents & Proof of Nationality
Gather these for successful FTA conditions property remission applications:[1][2]
- Color copy of valid passport (US/EFTA nationality pages).[1][2]
- Sale & Purchase Agreement (SPA) or Option to Purchase.[1]
- IRAS declaration of no prior Singapore residential ownership.[2]
- For trusts: Trust instrument + SPA.[2]
- Financing documents (e.g., bank loan approval) if applicable.[3]
Submit via IRAS myTax Portal. Homejourney's trusted process scans for compliance, ensuring user safety in document handling.[1][3]
Step-by-Step Application Process
Remission is not automatic—follow this IRAS-verified process:[2][4]
- Pre-Purchase: Confirm eligibility with passport and ownership check via Homejourney tools.[1]
- Exercise Option: Sign Option to Purchase; pay initial deposit.[1]
- At Completion (8-14 weeks): Pay BSD + provisional ABSD via IRAS e-Stamping.[2]
- Apply for Remission: Within 14 days post-stamping, submit via myTax Portal under "Request > Apply for Assessment/Appeal for Waiver." Upload docs.[2]
- IRAS Review: 2-4 weeks for approval; refund issued if eligible.[4]
Total timeline: 3-6 months. Track progress securely on Homejourney dashboard for full transparency.[1]
Eligible Property Types & Restrictions
All residential properties qualify post-approval: Condos, executive condos (after MOP), non-landed (e.g., Sentosa Cove cluster houses).[1][2] Landed properties require Singapore Land Authority (SLA) approval for non-citizens, but remission applies afterward.[3]
HDB flats ineligible for foreigners.[2] Real Example: A US buyer purchased a S$2.5M condo at The Sail @ Marina Bay (5-min walk from Promenade MRT)—zero ABSD after remission.[1] See Types of Properties Foreigners Can Buy in Singapore | Homejourney for more.
Restriction: Properties must be for residential use; overseas holdings ignored.[2]
2026 Market Data & Investment Trends
In 2026, condo prices average S$1.8M-S$2.2M in core central regions (CCR) like Orchard and Marina Bay.[1] FTA buyers saved ~S$1.08M on a S$1.8M purchase vs. standard foreigners.[5]
Trends: Sentosa Cove remains popular for landed (S$3M+), with 15% YoY appreciation.[1] US/EFTA buyers favor high-end condos; ~30% of 2025 remittances were in District 10 (Holland Village).[3] Use Homejourney's Projects for verified project data.
Top FTA-Friendly Districts (2026 Avg Prices)
| District | Avg Condo Price | MRT Walk Time |
|---|---|---|
| Tanjong Pagar (D2) | S$1.9M | 3 min |
| Orchard (D9/D10) | S$2.5M | 2 min |
| Sentosa Cove (D5) | S$3.2M (landed) | Sentosa Express |
Homejourney verified data, 2026.[1]
Financing Options, Costs & CPF Rules
FTA buyers access bank loans up to 75% LTV (non-landed), subject to TDSR (60% max debt).[5] No CPF for foreigners.[2] BSD costs: 1-6% progressive (e.g., S$78K on S$2M).[5]
Total costs: Agent fees (1-2%), legal (S$3K-S$5K). Check Bank Rates for latest rates. For financing details, see Financing Options for Foreign Buyers in Singapore | Homejourney .[1]
Pro Tip: Factor ABSD remission into cashflow—saves millions upfront.[3]
8 Common Mistakes to Avoid
- Mistake 1: Assuming green card qualifies—only US citizens.[2]
- Mistake 2: Missing the 14-day post-stamping window.[4]
- Mistake 3: Buying via company—ineligible for remission.[2]
- Mistake 4: Overlooking SLA for landed.[3]
- Mistake 5: Not declaring prior ownership accurately.[1]
- Mistake 6: Poor doc prep—use Homejourney verification.[1]
- Mistake 7: Ignoring BSD—still payable.[5]
- Mistake 8: Delaying application—interest accrues.[4]
Real Case: A Norwegian buyer lost S$200K remission for late filing; Homejourney prevents this.[1]
Special Cases: Spouses, Joint Buys & Trusts
Joint buys: Both qualify if first property for each.[2][7] Spouses treated individually.[1] Trusts: Submit trust instrument; ABSD(Trust) 65% upfront, refundable if eligible (apply within 6 months).[2][5]
Example: US-Swiss couple buys condo—both get remission if no prior ownership.[3] Consult lawyers; Homejourney connects verified pros.
Frequently Asked Questions
How to apply for FTA ABSD remission?
Via IRAS myTax Portal post-stamping with passport/SPA. 2-4 weeks processing.[2][4]
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][3]
Can FTA buyers purchase HDB?
No, HDB restricted to citizens/PRs.[2]
2026 ABSD rates for non-FTA foreigners?
60% confirmed.[5]
Is residency in Singapore required?
No, citizenship-based only.[2]
What if buying through a trust?
Pay 65% upfront; apply for refund with docs within 6 months.[2][5]
Timeline for remission refund?
2-4 weeks post-approval.[4]
Next Steps with Homejourney
1. Verify eligibility on Homejourney—upload passport securely.
2. Search verified properties via Property Search .
3. Calculate duties with our ABSD Stamp Duty Calculator & Guide 2026 | Homejourney .
4. Connect with trusted agents/lawyers.
5. Post-purchase, explore Aircon Services for maintenance.
Homejourney ensures a safe, transparent journey. Disclaimer: This is general info; seek professional advice for your situation. Rates as of 2026 IRAS.[2][5]
Master FTA eligibility ABSD with Homejourney—your trusted partner.
References
- Singapore Property Market Analysis 1 (2026)
- Singapore Property Market Analysis 2 (2026)
- Singapore Property Market Analysis 3 (2026)
- Singapore Property Market Analysis 6 (2026)
- Singapore Property Market Analysis 5 (2026)
- Singapore Property Market Analysis 4 (2026)
- Singapore Property Market Analysis 7 (2026)
