BUD Mainland Highlights
- 50% of cost sponsored by Government
- 75% of total grant as initial payment
- Separate bank account NOT required
- HK$1,000,000 at most for each application
- HK$7,000,000 at most for eligible enterprise
- Applicable to mainland China market
If you need a BUD consultant, please contact BizMagnet.
BUD Fund – Background
In order to raise the competitiveness of Hong Kong companies in mainland China, the HKSAR government launched the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) in 2012. From time being, the Fund has enhanced and the grant has been lifted. The BUD Fund extended to ASEAN, Free Trade Agreement regions and IPPA economies in 2018, 2020 and 2021 respectively. Since 7th July 2022, each eligible enterprise can accept at most HK$7,000,000 from BUD Mainland programme or BUD FTA and IPPA programme.
BUD Fund – Eligibility
- Valid Hong Kong Business registration
- Non-listed company
- Both manufacturer and service provider are eligible
- Business in mainland China is NOT a requirement
BUD Fund – Application document
- Company authorized application form
- Copy of business registration certificate
- Shareholder structure supporting (e.g. NAR1)
- Proof of substantive operation (e.g. MPF record)
- Proof of relation between Hong Kong applicant and China business
Upper limit of Grant for each application
50% of the project total cost, ceiling at HK$1,000,000
BUD Fund Mainland – Application flow
- Submit application to BUD Secretariat
- Application approved
- Initial payment (75% of the total grant)
- Start the BUD project
- Submit progress report and annual audit report
(If more than 18 months) - Complete the BUD project
- Submit the final report and the final audit report
- Receive the remaining grant
BUD Fund Mainland – Scope
- Branding
- Marketing
- New employment
- New machinery
- Online or offline advertisement
- Exhibition and promotion event
BUD Mainland Official website: https://mainland.bud.hkpc.org/
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