1. What are the financial outlay required when purchasing a commercial office/retail unit? Is it same like private ppty where 1% to get contract, 4% exercise and then rest on completion?
2. Is there a minimum cash percentage that I need to fork out like in private ppty (5%)? I currently own residential ppty but I understand recent ruling on LTV does not affect commercial purchases?
3. Is usage of CPF also subjected to minimum sum scheme for CPF?
4. What does it mean that I have to pay GST? Isn't GST tied to a company? So if I buy a commercial ppty, why do I still need to pay GST? GST is on what price?
5. Is there also stamp duties on the purchase? If yes, how to calculate?
6. If I buy SOHO, what rules apply? That of residential or commercial?
Appreciate your answers as well as any other advice you can give!
Thank you so much!