The number of Licensed Money Lenders in Singapore has increased over the last couple of years. The government has approved the licensing criteria for such firms, which has helped to make Singapore a preferred location for overseas investors and entrepreneurs. Of course, the laws concerning foreign ownership of residential properties in Singapore have been tightened recently. Still, there are many Singaporean real estate agents who would be happy to help an interested individual in finding a suitable real estate property within the various Singaporean neighborhoods, even those located outside the city center in areas like Tuen Mun and Clarke Quay.
Before taking the final step of procuring financing from one of the licensed money lending firms in Singapore, be sure that you have done your homework regarding the available property selections. Make sure that the area in which you are interested in purchasing a house or apartment is one in which the interest rates are comparatively low – especially if you intend to make a large purchase with the money you receive from your new loan. Take note that some investors may be willing to lend you up to twice the amount of the property’s market value just so that they can have their own “personal” piece of property here in Singapore. Be aware of these sorts of offers, as well as the rules governing late payment, as this could affect your ability to access some types of financing.
One of the best things about licensing your business to a licensed money lender in Singapore is that you will enjoy a number of benefits here. For instance, there is no income tax that you will have to deal with in order to enjoy certain government incentives in Singapore, and you will not have to pay any stamp duty when you buy a property. You will also not be required to present any security for a loan that you borrow here in Singapore, nor will you have to prove your age. As a result, if you plan to expand your business overseas, you can benefit from the various incentives here in Singapore, making your investment more profitable in the long run.