Transfer taxes are charged on the transfer itself, regardless of whether the seller makes a gain, and they often fall on the buyer. Share transfers usually attract lower rates than direct transfers of real estate, but several countries treat the sale of a property-rich company as a property transfer. Rates, payers and deadlines differ, and in India and Germany state-level rules add a further layer.
Shares: UK, France and India
UK share purchases usually attract 0.5%, through Stamp Duty Reserve Tax for electronic transfers or Stamp Duty on a stock transfer form above GBP 1,000, with 1.5% where shares go into some depositary receipt or clearance arrangements. France charges registration duty of 0.1% on transfers of shares in companies with share capital, 3% on other company interests after an abatement based on EUR 23,000, and 5% on interests in predominantly real-estate companies, and the transfer deed must be registered within one month.
India's central rates since 1 July 2020 are 0.015% on delivery-based demat transfers and 0.25% on physical share transfers, generally borne by the transferor off-market. Stamp duty on other instruments is largely set by the states, so asset transfer documents can carry very different costs depending on where they are executed or the property sits.12345678
Real estate and property-rich companies: Germany, Saudi Arabia and Singapore
Germany's federal real estate transfer tax rate is 3.5%, though states may set their own rates. Share deals in companies that own German real estate are caught when 90% or more of the shares or partnership interests pass to new owners within ten years, or when one buyer and its affiliates come to hold 90% or more directly, indirectly or economically.
Saudi Arabia charges real estate transaction tax at 5% on disposals of real estate, including long leases of more than 50 years. Singapore charges buyer's stamp duty on property at up to 6% for residential and up to 5% for non-residential property, on the higher of price or market value; its stamp duty on share transfers could not be confirmed on an official page.910111213
| Market | What is taxed | Rate | Source |
|---|---|---|---|
| United Kingdom | Purchase of shares | 0.5% (1.5% into some depositary or clearance schemes) | GOV.UK, Tax when you buy shares |
| France | Shares (SA, SAS) / other interests / real-estate companies | 0.1% / 3% after abatement / 5% | impots.gouv.fr |
| India (central) | Demat delivery transfers / physical share transfers | 0.015% / 0.25% | Law-firm note on Indian Stamp Act amendments |
| India (states) | Most other instruments | Varies by state | Secondary summary |
| Germany | Real estate and 90% share or interest transfers | 3.5% federal rate; state rates may differ | GrEStG §§ 1, 11 |
| Saudi Arabia | Disposal of real estate | 5% | ZATCA |
| Singapore | Purchase of property | Up to 6% residential, up to 5% non-residential | Secondary summary |
Decisions to make
- Which documents will be executed, and where?78Stamp duties attach to instruments, and in India the rate for most instruments depends on the state.
- Does any group company own real estate, directly or indirectly?10115Germany's 90% rules and France's 5% rate for real-estate companies can turn a share deal into a property-taxed transaction.
- Who bears each tax under law and under the contract?7Statutory payers differ (for example the transferor for Indian off-market transfers); the sale agreement should allocate the cost expressly.
- What is the deadline to register or pay?6France requires registration of a share transfer deed within one month; late registration can bring penalties.
Documents usually needed
- Share transfer forms or deeds and sale agreement
- Group structure chart showing every entity that owns real estate
- Property valuations where tax is charged on market value
- Transfer tax returns or registration filings for each country
- Board or shareholder approvals required for the transfer
Common mistakes
- Executing documents in a high-duty location without checking the duty position
- Missing indirect changes of ownership that trigger German real estate transfer tax
- Applying the 0.1% French rate to company interests that attract 3%
- Forgetting to register the French transfer deed within the deadline
- Assuming no transfer tax applies in countries where the research found only property-level duties
Questions businesses ask
Is UK stamp duty payable on a share purchase below GBP 1,000?
For paper transfers on a stock transfer form, Stamp Duty applies only where the transaction is over GBP 1,000. Electronic purchases follow SDRT rules.1
What this guide does not yet confirm
These points need checking with a qualified local professional before you rely on them.
- German state (Länder) real estate transfer tax rates were not confirmed.
- Singapore stamp duty on share transfers could not yet be checked on the IRAS site.
- UAE property transfer fees (set by each emirate, for example the Dubai Land Department) were not confirmed on an official page.
- United States transfer taxes are levied at state and local level and were not researched.
- UK Stamp Duty Land Tax rates on asset deals involving land were not researched.
- Indian share transfer rates come from a 2020 law-firm note and should be confirmed against the current Indian Stamp Act Schedule I.
Sources and review status
Each statement is numbered to the source it was checked against. We use official sources where we can, and each statement says whether it was checked against an official or a secondary source. Sources last checked on 19 October 2026. None of it has been professionally reviewed yet: it is research checked against official and secondary sources by WONE Global, not legal or tax advice.
When shares are bought, tax or duty of 0.5% is usually payable on the transaction: Stamp Duty Reserve Tax for electronic purchases, and Stamp Duty for purchases with a stock transfer form where the transaction is over GBP 1,000. United Kingdom shares. Reliefs and exemptions are not covered here.
Tax at 1.5% applies where shares are transferred into some depositary receipt schemes or clearance services. United Kingdom; special share arrangements.
Registration duty on a transfer of shares (actions) is 0.1%, other than shares in predominantly real-estate companies. France; companies whose capital is divided into shares, such as SA and SAS.
Registration duty on a transfer of company interests in companies whose capital is not divided into shares is 3%, after an abatement for each interest equal to EUR 23,000 divided by the total number of interests in the company. France; for example parts sociales.
Registration duty on a transfer of interests in a predominantly real-estate company is 5%. France.
A transfer of company shares or interests recorded in a written deed must be registered within one month of the date of the deed; a transfer without a written deed must be declared within one month of its date. France.
Since 1 July 2020 stamp duty on a delivery-based transfer of securities in dematerialised form is 0.015%, and on a transfer of shares in physical form 0.25%, payable by the transferor for off-market and physical transfers. Central rates under the Indian Stamp Act as amended by the Finance Act 2019; collected through stock exchanges, clearing corporations and depositories. On-exchange purchases are charged to the buyer.
Secondary source dated 2020; the current Schedule I rates were not confirmed on the Gazette or India Code.
Stamp duty is mainly a state subject in India, so rates differ between states, while the central government fixes rates for specified instruments. State levy on instruments such as share transfers, leases and agreements; central rates for specified instruments.
Secondary source (last reviewed 11 May 2026). Reused from in-tax-016.
The federal Real Estate Transfer Tax Act sets the tax rate at 3.5%, rounded down to full euros. Section 11 GrEStG. The federal states (Länder) may set their own rates; the rates applied by individual states were not confirmed.
Real estate transfer tax is triggered where, within ten years, at least 90% of the interests in a partnership or the shares in a corporation that owns German real estate pass directly or indirectly to new partners or shareholders. Section 1(2a) (partnerships) and 1(2b) (corporations) GrEStG.
Real estate transfer tax is also triggered where a transaction brings, directly or indirectly, at least 90% of the shares in a company owning German real estate into the hands of one acquirer or its affiliates, including holdings of 90% or more in economic terms. Section 1(3) and 1(3a) GrEStG; section 1(3b) prevents double taxation with section 1(2a) and (2b).
Real estate transaction tax is charged at 5% on the disposal of real estate, including transfers of ownership for more than 50 years. Real estate disposals; exemptions apply under the RETT regulations.
Guideline updated to match Royal Decree No. M/84 dated 19/03/1446H. Reused from sa-tax-025.
Buyer's stamp duty on property is charged at up to 6% for residential property and up to 5% for non-residential property, on the higher of price or market value. Additional buyer's stamp duty applies on top for residential purchases by foreigners and entities; those rates were not confirmed.
No IRAS stamp duty page was opened. Reused from sg-regulatory-002.
Questions on this topic
13 statements on transfer taxes and stamp duty
