367. Power of foreign companies to hold immovable property Flashcards
1
Q
- Power of foreign companies to hold immovable property
A
General overview
[367.01] Section 367 allows a foreign company that is registered under Division 2 of Part XI of the Act to hold immovable property in Singapore. Since “foreign company” within the meaning of s 4 includes an unincorporated body, such unincorporated bodies may also hold property in Singapore even if they are not separate legal entities under the law of the place in which they were incorporated. However, a foreign company will not be deemed to be carrying on business in Singapore solely by virtue of the property it holds, pursuant to s 366(2)(i).
