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Lower transaction fee in selling property

Background
  1. Mr. A is 100% shareholder of H Ltd (a Hong Kong company);
  2. H Ltd owns a Hong Kong property for long term investment and no finance required from bank.
The arrangement
  1. Mr. A needs to sell the property to Mr. B;
  2. Market value of the property is HK$ 5,000,000;
  3. If H Ltd sells the property to Mr. B, stamp duty payable is around 3% of HK$ 5,000,000 = HK$ 150,000 (the rate as at 7/2008);
  4. If Mr. A sells share of H Ltd to Mr. B, then, Mr. B owns the property indirectly.
Benefit
  1. Share transfer stamp duty is HK$ 1 per HK$ 1,000 value;
  2. Therefore, stamp duty will be around HK$ 5,000,000 / 1,000 = HK$ 5,000;
  3. Even both buyer and seller need to pay the stamp duty, it is only around HK$ 10,000;
  4. There is saving of around HK$ 140,000.
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Service in Hong Kong
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AbacusHKCPA - Certified Public Accountants base in Hong Kong (HK) - ACCA, HKICPA, providing services of

company formation, financial management, business advisory, tax planning, auditing and accounting.