TVP “related entities” restriction relaxed


According to the official TVP website announcement, the “related entities” restriction is relaxed from 2020/08/14. Now, different companies with the same ultimate natural person holding more than 30% shares will NOT be considered as ONE single entity. These companies have independent cumulative subsidy pool. In other words, suppose you own more than 30% of Alpha Company Limited and Beta Company Limited. Both Alpha and Beta can have at most $600,000 from the TVP Fund.1 However, BizMagnet TVP Consultant cannot find the relevant amendment in the official TVP application guide yet. Stay with BizMagnet and we promise to follow up.

TVP supplier and audit supplier list

At the same time, the TVP website also announces the technology and audit service provider lists for applicant reference. 2 3 Nevertheless, the past performance does not represent the future, and this only reflects that these suppliers were free of bad record before (such as incomplete projects or bid rigging). We must examine the supplier capability in order to successfully apply for the TVP. Kindly contact BizMagnet TVP consultant if you have any questions.

  1. TVP official website, https://tvp.itf.gov.hk/
  2. Approved technology service provider list, https://www.itf.gov.hk/filemanager/tc/content_38/TVP_Technology_Service_Providers_20200714.pdf
  3. Approved audit service provider list, https://www.itf.gov.hk/filemanager/tc/content_38/TVP_Audit_Service_Providers_20200714.pdf

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