The Inland Revenue Authority of Singapore has published updated guidance on Applying for a Certificate of Residence and Tax Reclaim Form. The update concerns additional requirements from 2025 for Foreign-Owned Investment Holding Companies, which are generally not eligible for a certificate of residence unless certain conditions are met. --- Foreign-Owned Investment Holding Companies Foreign-owned investment holding companies with purely passive sources of income and receiving only foreign-sourced income are not eligible for a COR. A foreign-owned company is a company where 50% or more of its shares are held by: Foreign companies that are incorporated outside Singapore; or Individual shareholders...