Assist The Clients In Applying For Various Non-Repayable Government Funding

 

 

BUD Fund

– Mainland Programme / FTA Programme

Objective :
To provide funding support to individual Hong Kong enterprises in undertaking projects to develop brands, upgrade and restructure their business operations and promote sales in the Mainland China market and all economies with which Hong Kong has signed Free Trade Agreements (FTAs), now and in future, so as to enhance their competitiveness and facilitate their business development in the Mainland China market, the ASEAN markets and the above-mentioned FTA economies.

Eligibility :
All non-listed enterprises registered in Hong Kong under the Business Registration Ordinance (Chapter 310) with substantive business operations in Hong Kong are eligible to apply, irrespective of whether they belong to the manufacturing or service sector or whether they already have any business operations in the Mainland China, the ASEAN markets and the above-mentioned FTA economies.

Funding Amount :
Funding will be provided on a matching basis, i.e. the Government will cover a maximum of 50% of the total approved project cost and the enterprise has to contribute no less than 50% of the total project cost in cash. During the tenure of the BUD Fund, each enterprise may obtain funding for a maximum of ten approved projects and HKD 2 million each for the “Mainland Programme” and the “FTA Programme”.

 

News :

New Round of Enhancements to the BUD Fund was implemented on 20 January 2020:

💰  Extending the geographical coverage of the BUD Fund to all economies with which Hong Kong has signed Free Trade Agreements (FTAs)

💰  Increasing the cumulative funding ceiling per enterprise to HKD 4 million, including:
       💰 HKD 2 million for projects in the Mainland
       💰 HKD 2 million for projects in ASEAN and the above-mentioned FTA markets

💰 Increasing the ratio of initial payment from 25% to up to 75% of the total approved government funding

💰 Removing the requirements for the grantee :
        💰 to open and maintain a separate interest-bearing bank account
        💰 to deposit into the account the required amount of matching funds before receiving the initial payment

💰 All projects, including those opting for initial payment, can commence upon submission of applications

💰 Relaxing the budget cap of individual expenditure items

💰 Allowing more fundable items

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