If it is a lease, it should be registered with the land registry within 30 days of the date of execution, otherwise it will lose its importance under the Land Registry Regulation (Cap.128 of Hong Kong Laws). A licence does not transfer any interest in the land and is not responsible for stamp duty. However, if there are doubts about the liability of a rental document with respect to stamp duty, it is a good idea to ask for a decision at the stamping point. The current adjudation fee is $50. Although a rent certificate may be registered in the land registry, Article 3, paragraph 2 of the Land Registry Regulation provides that the principles of termination and priority do not apply to “bona fide-leasing ratios for a maximum tenancy period of 3 years.” A rental agreement must be stamped within 30 days of execution. You can qualify a rental agreement via the Internet, by mail or in person with the Stamp Office of the Inland Revenue Department. Both the landlord and tenant are required to pay stamp duty. Stamp duty is generally shared between the landlord and the tenant. Please click “Online Demonstration” under www.gov.hk/estamping for the demonstration on e-Stamping. A tenancy agreement should define what you and your tenant have agreed as your respective rights and obligations. However, certain rights and obligations are implied in a lease agreement, unless there are provisions to the contrary in the lease.
One of your obligations involves, for example, that your tenant can enjoy the property and the conditions of the property during the apartment. Stamp duty is a tax on certain written documents attesting to transactions. Parties to a rental document are required to pay stamp duty on the document in Schedule 1 of the Stamp Duty Regulation (Chapter 117 of Hong Kong Laws). The rate of stamp duty varies depending on the duration/duration of the lease. The current rates are as follows. Stamp stamp certificates issued by Stamp Revenue`s collector have the same legal status as conventional instrument stamps. To verify the authenticity of the certificates, see www.gov.hk/estamping. According to the land settlement, a lease of more than three years must be registered with the land registry within one month of completion. Other leases, including those with the option of renewing the existing lease, may also be registered.
Please note that a rental agreement must be stamped before being registered in the land registry and, if necessary, recognized as evidence by the courts. Under the Landlords and Tenants Regulations (consolidation decree), your tenancy agreement means that the tenant must pay the rent on the due date and that the tenancy agreement is cancelled after non-payment for 15 days in the absence of an explicit agreement on the payment of the rent.