Restriction of Property (Non-Citizens) Act
On 29 April 2021, the Non-Citizens (Property Restriction) (Amendment) bill was swiftly enacted, in order to promptly close a material loophole, whereby Foundations could potentially be misused to circumvent the principle of the Restriction of Property (Non-Citizens) Act (RPNCA). While the amendment serves a commendable objective, it brought a number of stringent unintended consequences for […]