How do mainlanders buy Hong Kong real estate?

1. What is the general process for mainlanders to buy a house in Hong Kong?

Buying any commercial house in Hong Kong, whether it is a new house or a second-hand house, generally goes through three stages, which takes about one and a half months (generally speaking), including:

(1) Select a real estate agent and inform the relevant requirements. After the real estate agent helps you screen out the properties that meet the requirements, you can make an appointment to visit Hong Kong.

(2) After the unit to be purchased is selected, a temporary sales contract is signed with the seller through an intermediary, and a temporary deposit (generally 5% of the property price) is required.

(3) Sign a formal sales contract with the designated law firm within five working days after signing the temporary sales contract, and pay the down payment (depending on the requirements of the developer), which is generally 10% ~ 15% of the house price.

(4) Finally, after signing the formal sales contract, pay the balance of the house price within the specified date. (Generally, there are 60-day, 90-day, 180-day payment plans. The shorter the payment time, the higher the discount. )

Note: Generally speaking, the intermediary commission for buying a second-hand building is 1%-2%, which shall be paid by the buyer and the seller respectively; When buying a first-hand property, the buyer does not need to pay the agency fee (free of commission), only the developer needs to pay the commission to the real estate agent.

2. What taxes do mainlanders need to pay when buying a house in Hong Kong?

In order to curb the excessive growth of real estate prices, the Hong Kong government introduced a new tax policy last year. People outside Hong Kong have to pay a tax equivalent to 15%-23% of the property price when purchasing the property. However, considering that the current exchange rate between Hong Kong dollar and RMB is around 0.78, it is quite cost-effective for mainlanders to buy related properties.

(1) Buyer Stamp Duty (BSD): Except for Hong Kong permanent residents, foreigners who purchase properties in Hong Kong in their own name or in the name of a company have to pay 15% of the property price.

The buyer's stamp duty must be paid within 30 days after signing the tax collection document.

If the sales agreement is cancelled, the buyer can apply to pay the buyer's stamp duty within 2 years.

(2) Double Stamp Duty (DSD): Any residential property acquired in the name of an individual or a company on or after February 23rd, 20 13 (unless the residential property was acquired by a permanent resident of Hong Kong who did not own any other residential property in Hong Kong when acquiring the residential property) and non-residential property shall be subject to "ad valorem stamp duty" at the new rate.

(3) Special stamp duty (SSD):20 12, 10 years 10, for residential properties purchased on or after October 27th, 20% SSD； will be levied if they are transferred within half a year after purchase; If you buy it for six months to one year for resale, you must pay15% SSD; ; If you buy a property for one to three years, you must pay 10% SSD when you resell it. This tax will only involve buying second-hand properties, and you don't need to consider buying new buildings. )

3. How to apply for a mortgage? What documents do you need?

Mainland residents in mortgage to buy a house, Hong Kong can mortgage up to 60% of their properties below HK$ 7 million, up to 50% of their properties between HK$ 7 million and HK$ 10 million, and up to 40% of their properties above HK$10 million. The bank will ask the customer to provide the following documents:

Self-employed (business owners)

(1) Copy of domestic ID card and pass

(2) Bank records in the last three to six months.

(3) Proof of domestic address: monthly statement of water, electricity, gas or credit card.

(4) Housing sales contract

Salaried personnel (enterprise employees)

(1) Copy of domestic ID card and pass

(2) Records of private bank accounts in the past six months

(3) The company letter proves the monthly income.

(4) Proof of domestic address: monthly statement of water, electricity, gas or credit card.

(5) Housing sales contracts

The reference comes from Sohu. com:/20170201/n479764480.shtml.