Home Purchase Process
Searches
The first stage of buying a property in Macau is to have a Promissory Contract. However, before you sign this contract, it's best to ask your property agent to conduct a full search certificate at the Macau Land and Real Estate Registry Office (Conservatoria do Registo Predial de Macau). This will establish that the vendor has clear title to own and sell the property and that there are no other rights or charges on it. This certificate will also describe the property, in terms of the usage, type of tenure, plot size and gross area.
You also have to check that all rates and utility bills have been paid up to date by the vendor. If everything is fine, you can then make an offer and subject to contract.
Promissory Contract
This is a contract drawn up by your lawyer. It must include full details of the vendor and yourself as the buyer, full details of the property, the agreed price, and any special terms and conditions of the contract, including completion date. You will have to make a down payment (usually around 10% of the purchase price) to the vendor at this stage.
Purchase Completion
To complete the sales and purchase of the property, you will have to come in person to sign respective documents. If you choose to mortgage the property for financing, the mortgage documents will have to be signed at the same time. In the presence of the vendor and the bank (if home mortgage has been set up), you will have to sign the Sales and Purchase Deed as well as the Mortgage Deed in front of a Macau Notary Office. These documents are legally-binding documents which have to be prepared in either Chinese or Portuguese, the official languages in Macau, by an appointed lawyer. Your lawyer could also be responsible to attend to all post-completion, stamping, registration and filing and will confirm to you after these necessary items have been completed.
Fees and Taxes
Once the Sales and Purchase Deed has been signed, you will have to pay the following fees and taxes:
1. Stamp Duty
Full transfer of real estate is subject to a stamp duty equal to 3% of the property purchase price or official rateable value, whichever is higher and payable to the Macau Finance Department upon completion of the property purchase.
2. Notary and Registration Fees
It is mandatory to pay the notary and registration fees to the Macau Legal Affairs Bureau according to the structures shown in the tables. Your lawyer can help you with the calculations.
Registration Fee
Property Price Fee
Up to $500,000 0.5% of the amount
$500,001 - $1,000,000 $2,500 + 0.4% of excess over $500,000
$1,000,001 - $2,000,000 $4,500 + 0.3% of excess over $1,000,000
$2,000,001 - $5,000,000 $7,500 + 0.2% of excess over $2,000,000
Over $5,000,000 $13,500 + 0.1% of excess over $5,000,000
Notary Fee
Property Price Fee
Up to $500,000 0.4% of the amount
$500,001 - $1,000,000 $2,000 + 0.3% of excess over $500,000
Over $1,000,000 $3,500 + 0.2% of excess over $1,000,000
3. Taxes on Possession and Operation of Real Estate
Property tax is levied on all types of property and is payable by the owner. The tax rate is 10% on the official rateable value for owner occupied property.
