Housing secretary Winnie Ho said on Thursday that there’ll be sufficient safeguards in place to prevent incoming professionals from evading stamp duty payments if they buy homes here.

Speaking at a press briefing to elaborate on a measure to allow non-local talent to defer their stamp duty payment, Ho said they are required to register with the Inland Revenue Department (IRD) and Land Registry before purchasing a flat.

Ho made clear that if they fail to get permanent residency within nine years of arriving in Hong Kong, the Immigration Department and the IRD will take follow-up action.

"[The professionals] will have to pay the tax within 30 days. They have to pay the tax, otherwise it's a late payment of the tax, and a long delay of late payment will come up with a (fine) ten times the original tax. That's a really strong penalty,” Ho said.

The housing chief explained that the government has provided a two-year buffer period for non-local talent, in addition to the required seven-year residency period, to become permanent residents in the city.