The Finance (Miscellaneous Provisions) Act 2023 (Act No. 12 of 2023)

Finance (Miscellaneous Provisions) Act 2023 (93 sections amending many Acts; mostly tax, customs and other matters, not in scope). In scope: s. 24 EDB Act (Premium Investor Scheme objects (business incentive); First Schedule: investor USD 50,000 with proof of funds and transfer within 60 days, high-tech option with USD 25,000 within 60 days (from 1 Aug 2023); retiree criteria replaced by bank statement showing USD 18,000 or guaranteed income USD 1,500 a month; professional and self-employed changes not in scope); s. 37 Immigration Act 2022 (Sustainable City Scheme added: event added; senior-living PDS property above USD 200,000 for over-50s, already in data). s. 93(18) says s. 37(b)(iii) (senior living) is deemed in operation from 27 April 2019, but the existing senior-living term and event are dated 20 Jul 2023: needs a decision. s. 59 Non-Citizens (Property Restriction) Act: residents may buy one other residential property from USD 500,000 (was USD 350,000), and s. 70 Registration Duty Act s. 14A threshold raised from USD 350,000 to USD 500,000 (purchase permission and duty for existing residents, not a residence route: noted, not taken). Second Schedule passenger fees (USD 13-60) not in scope.