Foreign investors looking to start a business in Hong Kong will often need a suitable office space or even a home in the city. When performing any types of real estate transactions, a real estate due diligence procedure in Hong Kong can help you make sure that the property you are about to buy is suitable, has the right price and won’t bring you any losses.
Our lawyers in Hong Kong are experienced in concluding real estate transactions and can help you find a property that is both risk-free and suited to your best needs.
We invite you to watch a video about the real estate procedure in Hong Kong:
Performing a real estate due diligence in Hong Kong
The real estate due diligence process will target key information about the building you wish to purchase. The process can be performed for commercial real estate as well as for residential real estate, paying attention to the particularities of the space and the differences that exist between these two types of real estate.
The due diligence report will offer you information about the financial records, loans and leases on the property, as well as provide additional details about the technical state of the premises and whether or not they meet the environmental and safety requirements.
A usual due diligence checklist will include:
-information about loans, leases or mortgages;
-property tax verification;
-litigation history (if any);
The experts at our law firm in Hong Kong can also provide additional real estate due diligence services and help you obtain any additional licenses and permits as well as deal with any legal issues or disputes that may arise during the purchase of the property.
The property purchase process in Hong Kong
Foreigners are allowed to purchase land and property in Hong Kong. However, land owners are only given Government Leases for the areas purchased, as all land in the city is owned by the state. The buyer and the seller will need to conclude a provisional agreement and after all the details of the transaction have been agreed upon, sign a finalsale/purchase agreement (the Formal Agreement).
If you are interested in acquiring real estate in Hong Kong you can contact our Hong Kong law firm. Our consultants will be able to assist you throughout the entire purchase procedure and offer you legal advice whenever needed.
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