Documents Subject to Stamp Duty
The Stamp Duty Ordinance imposes duty on certain types of
documents, which are mainly as follows:-
(1) Conveyance on sale,
(2) Agreement for sale of residential property,
(3) Lease of immovable property, and
(4) Transfer of Hong Kong stock.
How to Stamp Documents
You may present the documents for stamping to the Stamp Office in
person. Alternatively, you may send in the documents by post. If the
documents are forwarded by post, the documents will be assessed and
you will be advised of the amount of stamp duty payable. Once your
remittance is received, the document will be stamped and returned by
registered post, usually within seven working days after receiving
payment of the stamp duty.
Documents to be brought along for stamping transfer of Hong Kong
stock or lease of immovable property:
| Nature of
Document for Stamping |
Documents
Required |
| Transfer of Hong Kong stock |
(1) the executed contract
notes and/or instrument of transfer,
(2) a copy of the Memorandum and Articles of Association, and
(3) a copy of the latest audited accounts of the company.
|
| Lease |
Just the signed lease and
any executed copies of the lease |
Documents to be brought along for stamping transfer of Hong Kong
stock or lease of immovable property
Rates of Stamp Duty
Immovable Property
The rates of duty apply to the consideration for the sale of
immovable property in Hong Kong remain unchanged as follows:
year 2001/2002 and year 2000/2001
Property Value
(HK$) |
Stamp Duty
(HK$) |
Property Value
(HK$) |
Stamp Duty
(HK$) |
| $1,000,000 or
below |
$100 |
$1,000,000 or
below |
$100 |
| $1,000,001 -
$1,080,010 |
$100 + 10% on
balance in excess of $1M |
$1,000,001 -
$1,080,010 |
$100 + 10% on
balance in excess of $1M |
| $1,080,011 -
$2,000,000 |
0.75% on
property value |
$1,080,011 -
$2,000,000 |
0.75% on
property value |
| $2,000,001 -
$2,176,470 |
$15,000 + 10% on
balance in excess of $2M |
$2,000,001 -
$2,176,470 |
$15,000 + 10% on
balance in excess of $2M |
| $2,176,481 -
$3,000,000 |
1.5% on property
value |
$2,176,481 -
$3,000,000 |
1.5% on property
value |
| $3,000,001 -
$3,290,320 |
$45,000 + 10% on
balance in excess of $3M |
$3,000,001 -
$3,290,320 |
$45,000 + 10% on
balance in excess of $3M |
| $3,290,311 -
$4,000,000 |
2.25% on
property value |
$3,290,311 -
$4,000,000 |
2.25% on
property value |
| $4,000,001 -
$4,428,570 |
$90,000 + 10% on
balance in excess of $4M |
$4,000,001 -
$4,428,570 |
$90,000 + 10% on
balance in excess of $4M |
| $4,428,571 -
$6,700,000 |
3% on property
value |
$4,428,571 -
$6,700,000 |
3% on property
value |
| $6,000,001 -
$6,720,000 |
$180,000 + 10%
on balance in excess of $6M |
$6,000,001 -
$6,720,000 |
$180,000 + 10%
on balance in excess of $6M |
| $6,720,001 or
above |
3.75% on
property value |
$6,720,001 or
above |
3.75% on
property value |
The payment of stamp duty due on the purchase of a residential
property has been deferred until the assignment of the property is
executed.
Duty of 0.2% (2000/2001: 0.225%) of the consideration applies for
the sale of Hong Kong stock payable half by the vendor and half by
the purchaser.
Duty of 3% (2000/2001: 3%) of the market value is charged on the
issue of any Hong Kong bearer instrument.
Transfer of Hong Kong stock
With effect from 1 September 2001, stamp duty on sale or purchase of
any Hong Kong stock is charged at rate which vary with the amount or
value of the consideration as follows:-
Nature of Document |
Rate |
| Contract Note for sale or
purchase of any Hong Kong stock |
0.1% of the amount of the
consideration or of its value on every sold note and every
bought note |
| Transfer operating as a
voluntary disposition inter vivos |
$5 + 0.2% of the value of
the stock sold |
| Transfer of any other kind |
$5 |
|
