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1.

Q:

Under what circumstances will an eligible incoming talent be entitled to apply for refund of stamp duty?
 
 

A:

An eligible incoming talent may apply for refund if the following conditions are fulfilled –

  1. he/she as an eligible incoming talent has acquired a residential property in Hong Kong on or after 19 October 2022;
  2. at the time of acquisition of the property concerned, he/she must hold a valid visa under the designated talents admission schemes and does not own any other residential property in Hong Kong (unless he/she acquires the property concerned to replace his/her only residential property in Hong Kong, i.e. to buy a new one and then sell the original one, within 12 months from the date of assignment of the property concerned);
  3. he/she has become a Hong Kong permanent resident (HKPR);
  4. at the time of application for refund of stamp duty, he/she is still the owner of the property concerned; and
  5. he/she can only apply for refund in respect of one residential property.

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2.

Q:

What are the designated talent admission schemes?
 
 

A:

The designated talents admission schemes include the General Employment Policy (GEP), Admission Scheme for Mainland Talents and Professionals (ASMTP), Quality Migrant Admission Scheme (QMAS), Technology Talent Admission Scheme (TechTAS), Immigration Arrangements for Non-local Graduates (IANG), Admission Scheme for the Second Generation of Chinese Hong Kong Permanent Residents (ASSG) and Top Talent Pass Scheme (TTPS).

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3.

Q:

What evidence is required to prove the status as an eligible incoming talent?
 
 

A:

An eligible incoming talent is a non-HKPR admitted to Hong Kong through the designated talents admission schemes. Documentary proof for the status includes label/notification slip for (i) entry visa/permit; or (ii) conditions of stay issued upon extension of stay (where applicable) covering the date of acquisition of the property concerned.

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4.

Q:

What evidence is required to prove the status as a HKPR?
 
 

A:

A valid Hong Kong Permanent Identity Card as defined under the Registration of Persons Ordinance (Cap. 177).

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5.

Q:

Mr. X is an eligible incoming talent and does not own any residential property in Hong Kong. He entered into a Provisional Agreement for Sale and Purchase (PASP) on 18 October 2022 to acquire a residential property. He will sign an Agreement for Sale and Purchase (ASP) with the same terms of the PASP on 31 October 2022 and pay BSD and AVD at Part 1 of Scale 1 rate. Will he be entitled to apply for refund of stamp duty after becoming a HKPR?
 
 

A:

Where there are more than one agreement for sale made between the same parties and on the same terms in respect of the property (e.g. a PASP and an ASP), it is the date of the first of those agreements (i.e. PASP) that is taken as the date of acquisition of the property. In this case, Mr. X has acquired the residential property before 19 October 2022. He is therefore not entitled to apply for refund of the stamp duty after becoming a HKPR.

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6.

Q:

Mr. X, a non-HKPR, owns a residential property in Hong Kong before 19 October 2022 (the first property) but he did not stay in Hong Kong before that date. Assuming that he becomes an eligible incoming talent with effect from 1 November 2022 and stays in Hong Kong since then. He acquires another residential property on 15 November 2022 (the second property) and pays BSD and AVD at Part 1 of Scale 1 rate. Will he be entitled to apply for refund of stamp duty in respect of the second property after becoming a HKPR?
 
 

A:

No. Mr. X will not be entitled to apply for refund since he owns a residential property (the first property) when he acquires the second property.

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7.

Q:

Mr. X is an eligible incoming talent and does not own any residential property in Hong Kong. Assuming that he acquires a residential property on 1 November 2022 and becomes a HKPR on 1 November 2024, but he has sold the property before he becomes a HKPR. Will he be entitled to apply for refund of stamp duty in respect of the property after becoming a HKPR?
 
 

A:

No. Because Mr. X does not hold the property at the time of application for refund of stamp duty.

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8.

Q:

Mr. X is an eligible incoming talent and does not own any residential property in Hong Kong. Assuming that he acquires a residential property on 1 November 2022 (Property A) at a purchase price of $10M. He purchases another residential property on 1 May 2023 (Property B) at a purchase price of $20M. He becomes a HKPR on 1 November 2024 and still owns Property A and Property B. Will he be entitled to apply for refund of stamp duty in respect of Property B?
 
 

A:

No. Mr. X is only entitled to apply for refund of stamp duty in respect of his first property (i.e. Property A).

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9.

Q:

Similar to Question 8, but Mr. X sells Property A on 31 October 2024 and Property B is assigned to him on 15 July 2023. Will he be entitled to apply for refund of stamp duty in respect of Property B after becoming a HKPR?
 
 

A:

No. Since Property A is not disposed of within 12 months from the date of assignment of Property B, Mr. X is not entitled to apply for refund of stamp duty in respect of Property B. Since Property A has been sold before he becomes a HKPR, he cannot claim refund in respect of Property A either.

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10.

Q:

Mr. X, an eligible incoming talent, who does not own any other residential property in Hong Kong, executes one agreement for sale to acquire two residential properties in one single transaction on or after 19 October 2022. Which property will Mr. X be entitled to apply for refund of stamp duty after he has become a HKPR?
 
 

A:

Mr. X is not entitled to apply for refund of stamp duty. This is in line with the treatment under the existing legislation where HKPRs have to pay AVD at Part 1 of Scale 1 rate under a similar situation.

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11.

Q:

Mr. X and Ms. Y do not own any residential property in Hong Kong. While Mr. X is an eligible incoming talent, Ms. Y is a HKPR. They jointly acquire a residential property on 1 November 2022. Will they be entitled to apply for refund of stamp duty?
 
 

A:

Given that Ms. Y is not an eligible incoming talent, Mr. X and Ms. Y are not entitled to apply for refund of stamp duty even after Mr. X has become a HKPR. This is in line with the treatment under the existing legislation where a residential property is jointly acquired by a HKPR and a non-HKPR, the owners have to pay BSD and AVD at Part 1 of Scale 1 rate.

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12.

Q:

Similar to Question 11, but both Mr. X and Ms. Y are eligible incoming talents. Will they be entitled to apply for refund of stamp duty?
 
 

A:

They will be entitled to apply for refund of stamp duty after both of them have fulfilled all the conditions listed in the answer to Question 1 above.

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13.

Q:

Similar to Question 11, but Mr. X and Ms. Y are husband and wife. Will they be entitled to apply for refund of stamp duty?
 
 

A:

Under the existing legislation, where a HKPR acquires a residential property jointly with his/her non-HKPR close relative(s), they are not required to pay BSD. If at the time of acquisition of the residential property, they do not own any other residential property in Hong Kong, they need to pay AVD at Scale 2 rates only. Close relatives are parent, spouse, child, brother or sister. If there are more than two persons, they are closely related if each of the persons is a parent, spouse, child, brother or sister of each of the other persons. In the present case, Mr. X and Ms. Y are close relatives and thus they are not required to pay BSD and AVD at Part 1 of Scale 1 rate in the first place when they acquired the property concerned.

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14.

Q:

Similar to Question 11, but Ms. Y is a non-HKPR while Mr. X and Ms. Y are husband and wife. Will they be entitled to apply for refund of stamp duty?
 
 

A:

An eligible incoming talent who has acquired a residential property in Hong Kong jointly with his/her non-HKPR close relative(s), no matter whether the close relative is an eligible incoming talent, is entitled to apply for refund of stamp duty provided that both (all) of the owners have fulfilled other conditions listed in the answer to Question 1 above (e.g. they do not own any other residential property in Hong Kong and they have become HKPRs). In the present case, Mr. X and Ms. Y will be entitled to apply for refund of stamp duty after they have become HKPRs, provided that they are still holding that jointly owned residential property at the time of application for refund.

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15.

Q:

When can HKPRs (formerly eligible incoming talents) make application to the Inland Revenue Department for tax refund?
 
 

A:

It should be noted that the proposed stamp duty refund measure has to be implemented by way of legislative amendments to the Stamp Duty Ordinance. The Government will introduce the relevant Stamp Duty (Amendment) Bill to the Legislative Council in due course. Details of the amendments are subject to change during the legislative process. The Stamp Office will only accept refund application after gazettal of the new legislation providing for the new refund mechanism.