The Inland Revenue Department has launched a new e-Stamping service for tenancy agreements, agreements for sale and assignments of landed properties.
People can now submit a stamping application, pay stamp duty and obtain a stamp certificate in respect of the property documents on the Internet at the ESD website.
Stamping was traditionally a manual process with the imprinting of a stamp on an original instrument. It is comparatively costly and time consuming.
Encryption methodology adopted to ensure security
E-stamping, which provides a faster, more convenient alternative to the traditional manual stamping service, is safe.The system uses end-to-end encryption methodology to ensure data security and secrecy in the course of transmission to the department.
Applicants may submit stamping applications for property documents on the Internet instead of delivering the original instruments in person to the department. Instant stamping is now possible after stamp duty is paid online.
For tenancy agreements, the relevant statutory notification to the Rating & Valuation Department can also be submitted online in one go.
Apply for an e-stamp account now
Solicitor firms and property agency companies can apply for free E-Stamp accounts as a new means of authentication. To download application forms click here.
Individuals can use their Taxpayer Identification Number and Password for authentication when using the new service. Digital certificates are also acceptable.
The Stamp Duty (Amendment) Ordinance 2003, which introduces the electronic mode of stamping, was passed by the Legislative Council in June, 2003, and comes into operation today. An instrument is properly stamped if a stamp certificate has been issued in respect of it. A stamp certificate has the same legal status as a conventional stamp.
For details of the new service click here.
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