BUD Mainland – Support HK lawyers to practice in Greater Bay Area

In the 21st meeting, the Standing Committee of the 13th National People’s Congress decided to authorize the State Council to execute a pilot programme in the nine Greater Bay Area (GBA) mainland cities (Guangzhou, Shenzhen, Zhuhai, Foshan, Dongguan, Zhongshan, Jiangmen, Huizhou, and Zhaoqing). The programme allows Hong Kong and Macau lawyers to practice in specific areas after passing qualification exams in the GBA. The pilot programme lasts for 3 years and the State Council will provide the detail for the NPC. ¹

Further reading: Should I apply for the BUD Fund or the TVP?

Sole advantage of Hong Kong legal practitioners

The decision opens the huge South China market to Hong Kong legal practitioners. Since the Reform and Open, Guangdong province is all the time the South gate of Chinese economy. The GDP of Guangdong ranks 13th globally (compared among countries). It is about 1.5 trillion USD in 2019. Guangdong is also the openest economy in China, and the enormous foreign investment requires professional legal service. Hong Kong has a well-developed legal system, an independent judiciary and best legal training in China. Opening the legal service market means a big business opportunity to Hong Kong lawyers to serve the nine municipalities.

BUD Fund Mainland Programme promote the brands

We should know BUD Fund Mainland Programme if we plan to enter the GBA market. The BUD Fund seemed like a dedicated fund for manufacturers. Yes, one major goal of the BUD Fund is to help businesses to transform, and a typical BUD success is from OEM to ODM branding. Nevertheless, there are more and more service providers applying for the BUD in recent years. This includes office establishment and brand promotion. Hong Kong professionals are ready to explore in the GBA. The BUD Fund Mainland Programme provides service providers 50% of the cost (and cumulative maximum HK$ 4 million) to promote brands and develop the business. Subsidizing items are office setup, websites, brand design, online and offline marketing etc. (Detail list of BUD items)

It is lawyer’s duty to handle legal matter; it is BizMagnet BUD consultant‘s duty to help clients to apply for the BUD Fund. Hiring a consultant to help the government fund application can speed up the procedure, reduce the failure risk and utilize resource efficiently. If you are a legal firm partner and plan to enter the GBA, welcome to talk with BizMagnet.

Extra: Government fund consultant & Solicitor

1. (2020) Decision on authorising the State Council on the implementation of pilot measures for Hong Kong and Macao legal practitioners to obtain Mainland practice qualifications and to practise as lawyers in the nine Pearl River Delta municipalities in the Guangdong-Hong Kong-Macao Greater Bay Area, Constitutional and Mainland Affairs Bureau, https://www.bayarea.gov.hk/en/resource/mainland-policies-measures-20200811.html