I would like to renounce citizenship but wondering whether I should do it before the completion of my sales of hdb or after the completion of the sales and money credit back in to cpf first or is there any difference at all? Anyone with similiar experience, pls share. Cheers!
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When to renounce citizenship?
- Thread starter kingat33
- Start date
more advisable to do it after you have transferred all relevant proceeds to cpf. otherwise, do not close and cash out your cpf account until after you have sold your flat and ensured the relevant amount has been credited to your cpf account. there's no rush to close your cpf account once you have renounced. but you must remain diligent to take action if changes to cpf withdrawal rules happen rapidly.
Do you have a foreign certificate of citizenship? Some people have had issues with the foreign certificate and demand it even if you have a foreign passport. If so you can renounce via the closest Singapore embassy or in person at ICA and it takes 8 weeks. They will do an internal check with all stat boards such as HDB before they grant the renounciation and if you owe any IRAS taxes they settle those from your CPF funds. After successful renounciation it takes a further two weeks to process your CPF.
Thanks london, any idea is it four weeks to renounce and another 8 weeks to withdraw CPF or total is 8 weeks? I'm confused mate and can just do all these without stepping into singapore? Cheers!
Have you secured citizenship in another country?
Mine took about 2 months but I did not have a flat to complicate things
Oh and they also ask you to fill out a questionaire in the packet
"why do you want to renounce" etc
I did mine about a year ago
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