Pan Sutong, billionaire chairman of Hong Kong investment conglomerate Goldin Group, saved himself about US$41 million when he bought a home in the exclusive Hong Kong enclave of Deep Water Bay (above) for a reported US$318 million) – all thanks to legal tax loophole. Photo: Bloomberg

How legal Hong Kong loophole helps super-rich homebuyers save millions of dollars

If a property is held by a shell company then sale is considered a share transfer and taxed at 0.2 per cent – not the usual 15 per cent levy

Topic |   Hong Kong property

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Pan Sutong, billionaire chairman of Hong Kong investment conglomerate Goldin Group, saved himself about US$41 million when he bought a home in the exclusive Hong Kong enclave of Deep Water Bay (above) for a reported US$318 million) – all thanks to legal tax loophole. Photo: Bloomberg
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