Grasp the final opportunity to understand if you meet the application criteria for the "One-for-One" Scheme.
Inquire Now
Inquire NowTo encourage the public to switch to electric vehicles, promote green transportation, and improve air quality, the government launched the electric vehicle "One-for-One" Scheme from February 28, 2018 to March 31, 2026 (inclusive of both dates). Eligible car owners who arrange to scrap and cancel the registration of their old internal combustion engine (ICE) private cars and purchase a new electric vehicle may receive a First Registration Tax (FRT) concession of up to HK$172,500. If the new car price of the purchased electric vehicle does not exceed $274,500, no FRT is required to be paid for the electric vehicle.
💡 The 3 Major Conditions for Meeting the "One-for-One" Scheme Criteria
Condition 1 – The old ICE vehicle must be at least 6 years old
When applying for the "One-for-One" scheme, do not confuse the "Date of First Registration" with the "Year of Manufacture". The scheme requires the period between the date of first registration and the date of cancellation of registration of the old vehicle to be a minimum of 6 years. When using any vehicle to participate in the scheme, it is crucial to verify the "Date of First Registration" to avoid disqualification.
When applying for the "One-for-One" scheme, do not confuse the "Date of First Registration" with the "Year of Manufacture". The scheme requires the period between the date of first registration and the date of cancellation of registration of the old vehicle to be a minimum of 6 years. When using any vehicle to participate in the scheme, it is crucial to verify the "Date of First Registration" to avoid disqualification.
Condition 2 – The old ICE vehicle must have been owned continuously for at least 18 months or more
The old ICE vehicle registered under the car owner’s name must have been held continuously for at least 18 months or more (one and a half years), calculated based on the "Date registered as Owner" shown on the vehicle registration document (VRD).
The old ICE vehicle registered under the car owner’s name must have been held continuously for at least 18 months or more (one and a half years), calculated based on the "Date registered as Owner" shown on the vehicle registration document (VRD).
Condition 3 – The old ICE vehicle must have accumulated at least 10 months of valid vehicle license
Within the 12 months immediately before the date of cancellation of registration of the old vehicle, the vehicle must have held a valid vehicle license for an aggregate period of at least 10 months, which can be continuous or non-continuous.
Within the 12 months immediately before the date of cancellation of registration of the old vehicle, the vehicle must have held a valid vehicle license for an aggregate period of at least 10 months, which can be continuous or non-continuous.
If the old private car meets the above 3 major conditions, you can participate in the "One-for-One" Scheme#.
💡 Are the procedures for the "One-for-One" Scheme complicated?
Contact our sales consultants to provide you with one-stop service.
Contact our sales consultants to provide you with one-stop service.
🔥 Hot Recommendation:
The top choice for Hong Kong families, the BYD SEALION 7 STANDARD, originally priced from $345,480 (before FRT deduction). After the "One-for-One" tax concession, own a champion-level SUV for only $218,000 up. Click here to learn more about the BYD SEALION 7.
The top choice for Hong Kong families, the BYD SEALION 7 STANDARD, originally priced from $345,480 (before FRT deduction). After the "One-for-One" tax concession, own a champion-level SUV for only $218,000 up. Click here to learn more about the BYD SEALION 7.
#Scheme details are subject to the Hong Kong Transport Department.
Next article: LAST CHANCE ! 4-Steps of the "One-for-One" Scheme
