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Would I be allowed to retain the restricted property if I am no longer a Singapore permanent resident (other than on the ground that I am now a Singapore citizen)?
No. You are required to sell the restricted property within 2 years from the date of cessation of your Singapore permanent residence.
If you fail to do so, you shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 or to imprisonment for a term not exceeding 3 years or both.
If you fail to do so, you shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 or to imprisonment for a term not exceeding 3 years or both.
[ Note : The same will apply if you own restricted property and have ceased to be a Singapore citizen.]
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