Common requirements
The direction must generally be made within two months of the contract, the contract must be fully stamped, and no consideration can pass to the nominee. Company cases need purchase-time intention and more than 50% beneficial share capital and voting rights held through the relevant TOP or transfer date. Family cases cover spouse, parent, child or sibling and require an original purchaser to remain.
ABSD limitations
For directions from 21 December 2015, ABSD remission is capped by ABSD paid on the original contract. Company cases can leave a difference against the entity rate; family cases use the specific X + Y − Z formula. Housing-development companies use their separate developer regime. Submit the direction, contract, certificate and intention or relationship evidence when stamping.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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