Property News · June 6, 2017

Hong Kong should jail those who abuse first-time flat buyer entitlements


Hong Kong Financial Secretary Paul Chan Mo-po recently reminded everyone in his blog that it is a criminal offence to split residential property purchases by using other people’s entitlements or to let others use one’s own first-time buyer entitlement, through private arrangements, to work around the new stamp duty policy of restricting multiple flat purchases by a single buyer.
Once convicted, in addition to having to pay back the difference, one would also be subject to a fine of…

Source : South China Morning Post
Read more…Hong Kong should jail those who abuse first-time flat buyer entitlements

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