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Stamp Duty Exemption on Exchange Traded Funds (ETFs)
1.
Q:
What are exchange traded funds (ETFs)?
A:
According to Schedule 8 to the Stamp Duty Ordinance (Cap. 117), ETFs are open-ended collective investment schemes the shares or units of which are listed or traded on the Stock Exchange of Hong Kong. ETFs that are offered to Hong Kong public are required to be authorized by the Securities and Futures Commission.
2.
Q:
Will stamp duty be payable on transfer of ETFs?
A:
Starting from 13 February 2015, stamp duty for sale, purchase or transfer of all classes of shares or units of an ETF (as defined in FAQ1) is waived, regardless of whether the ETF is transacted through the Stock Exchange of Hong Kong or over-the-counter.
3.
Q:
Does the stamp duty wavier apply to a tokenised ETF?
A:
A tokenised ETF refers to an ETF that has a tokenised class of shares or units represented digitally by tokens issued and recorded on a blockchain or distributed ledger technology platform. The sale, purchase or transfer of shares or units of all ETFs (as defined in FAQ1), including those of the tokenised shares or units of such ETFs (if any) taking place on licensed digital asset trading platforms or through other channels, are exempt from stamp duty.