Gift a property

I have a flat I bought a few years ago and wish to gift it to my parents.

Is there a liablity for stamp duty?

Stamp Duty still would apply even though the property is gifted to your parents. Stamp duty is calculated on the value of the property. On Sale or Transfer of Immovable Property in Hong Kong, rates of Stamp Duty as follows [Where the stamp duty calculated includes a fraction of $1, round-up the duty to the nearest $1.]

Amount or value of the consideration Rate

Exceeds Does not exceed

. $2,000,000 $100

$2,000,000 $2,351,760 $100 + 10% of excess over

$2,000,000

$2,351,760 $3,000,000 1.5%

$3,000,000 $3,290,320 $45,000 + 10% of excess over

$3,000,000

$3,290,320 $4,000,000 2.25%

$4,000,000 $4,428,570 $90,000 + 10% of excess over

$4,000,000

$4,428,570 $6,000,000 3%

$6,000,000 $6,720,000 $180,000 + 10% of excess over

$6,000,000

$6,720,000 . 3.75%


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Hong Kong

Tel : 2526-1767

Fax : 2868-3568

email : weirlaw@hongkonglaw.com

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