BUD Fund - Mainland
- The two million caps for the mainland plan and the free trade agreement plan will be cancelled.
- Each company can plan in the mainland Up to 4 million yuan will be funded.
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- Increase the cumulative funding limit for each company: from 1 million yuan Increase to 2 million yuan
- Increase the initial funding from 25% to a maximum of 75%
- Relax the upper limit of the number of funded projects: increase from 10 to 20
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1. The software file of the application form (MS word format, Chinese or English version)
2. One original copy of the application form signed by the authorized person of the applicant company and stamped by the company
3. Other supporting documents:
－ A copy of the business registration certificate of the applying enterprise
－ A copy of the supporting documents of the major shareholders of the applying company (eg: Annual Return Form AR1 issued by the Companies Registry)
－ A copy of the documents proving that the applicant company has substantive business operations in Hong Kong
－ A copy of the document certifying that the applicant enterprise has a direct investment relationship with the mainland business unit
All non-listed companies that are registered in Hong Kong in accordance with the Business Registration Ordinance (Chapter 310) and have substantial business operations in Hong Kong
HK$1 million is positive. The subsidy is provided on the principle of reciprocity, that is, the government subsidizes up to 50% of the total approved expenditure of an individual project, and the enterprise must bear no less than 50% of the total approved expenditure of the project in the form of cash.
There are a maximum of 20 projects, and the maximum cumulative funding amount for the two projects is HK$4 million.
Method 1-Set up the initial funding:
- Enterprises need to open a separate project account to handle project income and expenses.
- The project can only start after approval and signing of the funding agreement.
Method 2-No initial funding:
- Enterprises do not need to open a bank account dedicated to the project.
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The project can start the day after submitting the application form and sending it to the secretariat (but the application must be approved to receive funding).
Each funded project must be completed in no more than 24 months.
The following 6 unfunded expenditure categories
1. Branches/sales points/display points/business units-related to the lease, decoration, water, electricity and coal expenses of the branches/sales points/display points/business units*
*Except for newly added branches/sales points/display points/business units under the “ASEAN Initiative”
2. Equipment/Equipment-Procurement/rental of desktop and laptop equipment, software and other equipment for general applications (such as cameras, projectors, printers, retail systems, etc., including general equipment for new recruits of the project) fee
3. Marketing, promotion, and exhibition gifts, souvenirs or promotional prizes. Membership registration and annual fees of associations or professional organizations (including one-time or constant fees) Branches/product display fees for sales purposes (including physical stores) And online sales points) commission calculated based on sales performance/profit (such as the commission required by Taobao)
4. Patent and trademark registration-patent and trademark registration fees in Mainland China, ASEAN and outside Hong Kong.
5. Transportation-transportation costs to and from Mainland China/Hong Kong and ASEAN/Hong Kong, product freight and logistics costs (except for freight and logistics costs for exhibitions and other exhibitions and sales activities)
6. Others-Product production/production costs (except for sample production costs for marketing and promotional purposes)
Useful links:
BUD Special Fund Official website
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