Tenancy Agreement Stamp Duty Hong Kong

If you have questions about rental issues or need help, you can contact the Rating and Evaluation Service (RVD) for free application, assistance and intermediation services. You can also get free legal advice from the Duty Lawyer service. Stamp duty on the document for the sale, sale and lease of real estate and the transfer of Hong Kong shares is levied at different rates. To learn more about stamp rates, click here. You should inform your tenant if you decide to sell your rented property. If no new agreement is reached between your tenant and the new owner of the property, the terms of the existing lease will continue to apply. Don`t forget to clarify with the tenant and the new landlord the responsibility for the repayment of the deposit to the tenant. If your property is still under mortgage, you must remediat the borrower`s prior consent. Otherwise, you may violate your mortgage agreement and your mortgage could recover the property. You can apply for a stamp, pay online and get a stamp certificate immediately. Stamp stamp certificates issued by Stamp Revenue`s collector have the same legal status as conventional instrument stamps.

To verify the authenticity of the certificates, see www.gov.hk/estamping. You should submit a notice of a new lease or renewal agreement to the rating and valuation department for approval within one month of the execution of a lease agreement. In case of late filing, a fee of 310 HK is charged. If a copy of the notification is returned after approval, you have the right to take legal action to claim rent if necessary. Although a rent certificate may be registered in the land registry, Article 3, paragraph 2 of the Land Registry Regulation provides that the principles of termination and priority do not apply to “bona fide-leasing ratios for a maximum tenancy period of 3 years.” The e-Stamping system generates stamp certificates to replace traditional stamps. Stamp certificates are issued online or within 2 business days of receiving the stamp duty offline upon receipt of the stamp duty. The laws governing the registration of documents in the national register are mainly contained in the land regulation (cap.128 of Hong Kong laws). Strictly speaking, there is no provision in the Cadastre regulation requiring the registration of documents. Only the consequences of non-registration are exposed. The question should therefore be: why should certain rental documents be registered in the land registry? On the other hand, a document creating a lease contract of less than 3 years or less (i.e. a lease agreement) does not earn anything by registration.

A rental document is usually executed in counter-parts, both transferred to the Stamp Office of the Inland Revenue Department within 30 days of the execution date. You can claim a stamp duty refund or file an appeal against an assessment of the stamp collector or request an auction for certain instruments. Details can be found here. Instant Stamp Service by GovHK (www.gov.hk/etax) Under the Landlord and Tenant Regulation (Amendment) Regulations 2004, you and your tenant can decide whether you wish to renew a lease created on July 9, 2004. However, if there is a possibility of renewal of the clause in your existing tenancy agreement or in any other written agreement, your tenant retains the right to renew the tenancy agreement. 4.25% of the consideration if the rent is also payable under the tenancy agreement. Otherwise, the same obligation as for the sale of land In addition, a lease agreement must be stamped before it can be submitted to the land registry. 10 stamp duty is $425 Example 6 [ 7,000 x 12 x $5 (for copy]).