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Joseph Lau to buy property shell from Chinese Estates (0127), avoiding HK$669.8m Double Stamp Duty
Company announcement, 12-Dec-2014
The property is valued at HK$7.88bn, but he is buying the BVI company that owns it. This avoids 8.5% Double Stamp Duty, an interventionist Government tool which many can legally avoid, unless they need to buy bare property without a corporate wrapper.
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