Stamp Duty For Tenancy Agreement Hong Kong

2 The start date of the contract does not affect the deadline. An un stamped lease agreement cannot be provided as evidence in civil proceedings and cannot be filed or replicated by an official or entity. STAMP PROCEDURE 3. With effect from 2 August 2004, you can choose one of the following methods to mark a rental agreement: (i) Via the Internet ( ) The most convenient is to submit a STAMPING application to the GovHK via the Internet. This is a 24-hour service and you do not have to present the initial rental agreement to the Stamp Office. The procedures are: Log in and then click on login e-STAMPING now. You can search for a tenant yourself or hire a licensed real estate agent to take care of the rental of your property. In both cases, you need to provide your potential tenant with accurate real estate information before entering into a lease. If you opt for an agent, you should clarify with him the details of the order such as the amount of the commission and the date of payment before signing the brokerage contract. In addition, a rental document must be stamped before it can be filed for registration with the land registry. 6 The rental agreement shall mention the consideration, even if the rent must be paid after the lease. Otherwise, tax identical to that of a sale of a real estate duplicate or equivalent of $5 per unit Note: 1 If the calculated stamp duty contains a fraction of $1, round up the tax to the next $1.

2 The annual rent, the average annual rent and the total rent must be rounded to the next 100 $US. The rental deposit mentioned in the rental agreement is not taken into account in the calculation of stamp duty. [You can refer to the examples in the appendix.] Penalty for late stamping 6. Late stamp and omission of the stamp are subject to the payment of a penalty as follows:- Penalties FOR LATE STAMPNot more than one month 2 times the amount of stamp duty exceed 1 month but not more than 2 months 4 times the amount of stamp duty Any other case 10 times the amount of stamp duty 7. Therefore, a document that draws up a lease agreement for a period of more than 3 years (i.e. a lease) should be registered, otherwise it can be undone by the lessor`s beneficiaries and lose its priority over other registered documents concerning the same property. . . .