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Non PR, is it possible not to pay the 15% tax when buying residential property?

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  1. #1

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    Non PR, is it possible not to pay the 15% tax when buying residential property?

    I talked to a real estate agent who told me that I should go to government office and ask if I can be exempted from paying the new 15% tax on property. I need 2 more years before I can apply for permanent residence.

    Is it possible to be exempted from paying the 15% tax if I'm not a permanent resident?


  2. #2

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    Quote Originally Posted by madmax77:
    I talked to a real estate agent who told me that I should go to government office and ask if I can be exempted from paying the new 15% tax on property. I need 2 more years before I can apply for permanent residence.

    Is it possible to be exempted from paying the 15% tax if I'm not a permanent resident?
    Why do you think you would be exempted, why should the HK Govt treat you special, you still have 2 years to go before even being a PR.

    http://www.scmp.com/news/hong-kong/a...omes-hong-kong

    Your best choice is to wait another 2 years before buying a place or get 15% of the asking price.
    Last edited by wtbhotia; 09-01-2013 at 11:07 PM.
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  3. #3

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    I think its not possible to be exempted from the 15% tax if ur a non PR... The tax was basically to prevent non locals/PRs from buying properties and pushing up.property costs and i doubt they can waive it...

    madmax77 likes this.

  4. #4

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    madmax77 likes this.

  5. #5

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    Thank you wtbhotia and shafiq.


  6. #6

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    Is it possible to buy a house and car package where the house is reduced in price by 15% and the car is being sold for an inflated price to get around the tax? (or house/whatever)?


  7. #7

    A property agent was trying to tell my wife he would show us the "tricks" to get around the tax. I just assumed it was just something dodgy such as getting the property in someone elses name.

    May i should have got her to play along just to hear the details of the scam..


  8. #8

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    From the FAQ linked above:

    BSD is charged at 15% on the stated consideration or the market value of the property (whichever is the higher).

  9. #9

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    Then lots of people are saying 'just get them to reduce the price by 15%' meaning that suggestion is not actually an option? @ Gruntuttock?


  10. #10

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    If it's a transaction between two unconnected parties and involves only the property then I guess that is, by definition, the market price.