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6. Is there any difference between 'residential' and 'commercial' properties as far as stamp duty is concerned?

For residential properties, stamp duty is payable upon the signing of the provisional agreement and/or formal sale and purchase agreement. If a formal agreement is signed within 14 days from the date of the provisional agreement, only the formal agreement has to be stamped.

 

For commercial or non-residential properties, ad valorem stamp duty at the rates under Scale 2 of Head 1(1A) of the First Schedule of the Stamp Duty Ordinance is payable on the sale and purchase agreement of a non-residential property.  No Buyer’s Stamp Duty is payable for non-residential property.

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