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  • If the parent city of the applicant company is a listed company, or it is registered overseas (such as a BVI company), can it apply?
    Yes. BUD will only review the documents for the applicant company, and will not deal with the corporate relationship behind it. However, BUD will trace the shareholder status of the applicant company to the "natural person" level. If the applicant company is controlled by another company, BUD will require the submission of the company's shareholder documents (annual report for listed companies).
  • What information can be used as proof of "substantial business operations"?
    In general, limited companies are required to submit Business Registration Certificate (BR), Company Registration Certificate (CI), Shareholding Information (NAR1), Audit Report (Audit Report), MPF Contribution Record (MPF) and several copies Business operating documents. For unlimited companies, except the shareholding information (NAR1) and audit report (Audit Report) are exempted, other documents are the same, and Form1(a) and tax return records are required to be submitted separately.
  • Do I have to have a registered company in the Mainland or a free trade agreement area when applying?
    Not necessarily. If the application project does not involve any projects that need to be executed by companies in the target area, the enterprise does not need to own a local company. Even if required, companies can include measures to open a local business unit in the application as part of the project.
  • What are the basic qualifications that an applicant company needs to meet?
    The applicant company must be a non-listed company (but not limited to company size) registered in Hong Kong and have substantial business operations in Hong Kong (not a shell company or a holding company) to be eligible.
  • In addition to the BUD special fund, is it possible for an enterprise to apply for other government funding (such as technology vouchers and SME marketing funds) at the same time?
    As long as the item content does not overlap. If there is overlap, neither application will be approved.
  • Are there any restrictions on the industry to apply for?
    Basically none. However, companies applying for BUD are mainly in "traditional industries", such as manufacturing (manufacturers) and import and export trade. For applications from some emerging industries (such as Fin Tech), they tend to ask more carefully to understand the company's operating model.
  • When can a business start a project?
    Regardless of whether the first instalment is required or not, enterprises can start all projects on the day after submitting the application without waiting for the approval result. However, if the plan is ultimately not approved, the business cannot reimburse all expenses.
  • Can the projects already carried out by the company apply for BUD?
    Generally, all projects and expenses incurred before submitting the application cannot be reimbursed by BUD. The only exception is the exhibition: if the company has already made an order for the exhibition, but the exhibition has not yet happened, it can be eligible for BUD application.
  • Can a company submit multiple applications at the same time?
    In principle, yes. Enterprises can submit 2 (or more) applications for the Mainland/FTA scheme at the same time, or 1 application for the Mainland and 1 FTA scheme, the latter is more common. It should be noted that when submitting more than 2 projects, BUD will review the content of the measures more carefully to prevent overlapping measures.
  • What is the process after submitting an application?
    BUD accepts applications throughout the year. After the enterprise submits the application, it will be accepted and reviewed by the BUD special fund implementing agency (i.e. the Hong Kong Productivity Council), including whether the documents are complete and the contents of the application form are appropriate, etc., and a notification will be sent to the applicant enterprise by email within 2-4 weeks . The notice will require the enterprise to supplement information or submit documents, and reply within 14 days. The HKPC will also discuss and implement the application content with enterprises. When all documents are complete, the application will be submitted to the Inter-Departmental Committee (IDC) for further approval, and finally to the Programme Management Committee (Programme Management Committee) composed of government and industry representatives. Committee (PMC)) to confirm the approval result. The whole process takes about 4 to 6 months.
  • What are the evaluation criteria?
    Generally, applicants must meet the following qualifications: 1. The applicant enterprise has substantial business operations. 2. The sales target is indeed the Mainland or the FTA market (not Hong Kong). 3. Legally operate in the target market. 4. Expenditures are clear and measurable.
  • The applicant company is a start-up company and has no income. Can I apply for BUD?
    If the company is engaged in scientific research projects and can prove that there will be income in the foreseeable future, such as a signed sales contract, it is still possible to successfully apply. But traditional industries, such as trade retail, will not accept applications from businesses with no revenue.
  • What is an accredited investment relationship?
    If the project will be carried out by the company's mainland or free trade agreement area unit, the unit must meet the "recognized investment relationship" defined by BUD, and three: 1. The unit is held by more than 50% of the applicant enterprise. 2. The unit is held more than 50% by the major shareholder of the applicant company (natural person holding more than 30% of the shares). 3. The combination of shareholders (limited to natural persons, not companies) of the unit is exactly the same as that of the applicant company (limited to natural persons, not companies).
  • What is a personal guarantee?
    For applications starting from January 20, 2020, if the company receives an initial allocation of more than 1 million yuan, a private guarantee must be signed by the company's major shareholder (natural person holding more than 30% of the shares). If the company needs to return the subsidy to the government for any reason but is unable to repay, all the money will be borne by the guarantor.
  • How should the sales channel be filled out?
    The sales approach to the target market is very important, and involves BUD an important factor in measuring whether the business model of the company is feasible. Businesses need to clearly explain how the product or service will be brought to the target market (e.g. online store, brick-and-mortar store, import through distributors, etc.). Enterprises also need to provide documents related to sales channels, such as customs documents.
  • If there is no audit report (only for companies established for no more than 18 months), how should the turnover be filled in?
    It can be filled out according to the internal financial documents, but need to supplement the bank account and documents.
  • A company has been established in the Mainland or in a free trade agreement area, but there is no operating record. Do I need to fill in?
    Depends on the situation. If the unit will assist in the implementation of the project, it needs to fill in and explain the reason for no business. If the unit does not have any role, it is not required to fill in, to avoid any ramifications.
  • Is there a problem with a business address being a residential address?
    Since there are no restrictions on company registration, many companies (especially unlimited companies) will use their residential address as their company registration address. In principle, there is no problem, but BUD will pay more attention to such applications.
  • What are "licenses/standards/statutory requirements"?
    Enterprises must demonstrate that the product or service has achieved or is prepared to obtain all the conditions for a legitimate business operation in the target market. But not all products and industries need it, depending on the situation.
  • In Part IV, what does it mean to have a % cap on certain parts?
    If the section states "No more than XX% of the total project budget", it means that the total expenditure in this column cannot exceed a certain percentage of the project's total budget.
  • Can companies hold product seminars and brand launches on their own?
    Yes. The cost of renting a venue (such as a hotel) and decoration can be reimbursed and can be placed in the "Others" section of the application form. Food and beverage expenses, however, are non-funded items.
  • Can companies employ "Freelance"?
    No. All purchased suppliers must be registered companies.
  • Whether companies can purchase business class air tickets and stay in 5-star hotels.
    There are no express restrictions, but the use of subsidy should be reasonable and practical, so air tickets and hotels with too high amount will not be approved.
  • Can a company designate to purchase a certain brand of equipment or samples?
    No. All BUD projects cannot name suppliers.
  • Can companies participate in exhibitions in Hong Kong?
    Yes, but the company must participate in the exhibition of the target market. Enterprises can also consider using the EMF SME Marketing Fund to reimburse the expenses of the Hong Kong exhibition.
  • What are the specific requirements for promotional materials produced by enterprises?
    Generally speaking, there must be the primary language of the target market. If the mainland uses simplified Chinese.
  • Can companies employ additional staff in Hong Kong to expand the Mainland/FTA market?
    Yes. Depends on how the application is filled out.
  • What are the common funded/non-funded projects?
    Please refer to "BUD Special Fund: Application Eligibility and Details" on this website.
  • How long does it take for the final report to be approved?
    According to our experience, it takes more than 6 months from submission to final grant.
  • When do final reports need to be submitted?
    The final report should be submitted within 2 months of the completion of the project period. If you need more time to prepare, you can contact the BUD Special Fund Secretariat.
  • What is a project audit?
    After the project is completed, the applicant company needs to appoint a Hong Kong certified public accountant to conduct a special audit for the project expenditure. It should be noted that this audit is not an annual financial audit of the company, but is conducted on the BUD project itself.
  • How can I make an appointment with a Government Funded Expert Advisor?
    You can call 3611 8107 / 2630 8182, WhatsApp to 6482 5981 or email to, we will reply as soon as possible.
  • What promotions are currently available?
    From now until April 30, 2022, the BUD special fund advisory service is "unsuccessful, free of charge". Offers are subject to terms and conditions, please check with us for details.
  • What services do you provide?
    Our professional consultant team provides application consulting services for various government funding programs, including BUD Special Fund, EMF SME Marketing Fund, TVP Technology Voucher Program, 100% Guaranteed Special Loan, ESS Enterprise Support Program, RFS Renewal Industrialisation Funding Scheme, Cyberport Start-up Funding, Research Talent Pool, etc. We have served over 150 businesses and secured over $120 million in grants for them. Feel free to contact us anytime.
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