BUD Special Fund: "Special Fund for Brand Development, Upgrading and Transformation, and Expanding into Domestic Markets" Funding of up to HK$7 million is available
What is the BUD Special Fund?
The Hong Kong Special Administrative Region Government launched the "Special Fund for Brand Development, Upgrading and Transformation, and Expanding into Domestic Markets" (referred to as the "BUD Special Fund") in June 2012, to help enterprises develop their brands, upgrade their operations, and expand into domestic or foreign markets. Through this program, enterprises can receive funding of up to HK$7 million, with the government subsidizing 25% of the project costs, while the remaining 75% is borne by the enterprise.
Am I Eligible to Apply for the BUD Fund?
1. Possession of a Hong Kong Registered Business Registration Certificate
The applicant must be a legally registered business entity in Hong Kong holding a valid business registration certificate.
2. Proof of Substantial Business Operations
The enterprise needs to provide recent business documents, such as invoices, bank transaction records, lease agreements, and contracts with suppliers or customers, to prove actual business activities in Hong Kong.
3. Non-listed Companies, Government Agencies, and Public Institutions
Listed companies, government departments, and public institutions are not eligible to apply. However, if a listed company has a subsidiary that is not listed and meets other eligibility criteria, it can apply.
Application Requirements for BUD
Application Requirements for BUD
If the application involves local entities executing project measures, the applicant enterprise must have a direct investment relationship with the local entity, meeting one of the following conditions:
1. The applicant enterprise holds more than 50% ownership of the local entity.
2. A shareholder (individual) holding 30% or more of the applicant enterprise also holds more than 50% ownership of the local entity.
3. The applicant enterprise and the local entity are 100% owned by the same group of shareholders (individuals).
Required Application Documents
Required Application Documents
Completed BUD Special Fund application form
BRC Business Registration Certificate
NAR1 Annual Return
Sales invoices or receipts of the applicant company
Lease agreements
Purchase orders
Copy of shareholder/applicant’s identity card
MPF contribution records for employees in Hong Kong
Proof of the direct investment relationship between the applicant enterprise and the local business entity
Copies of documents proving the total business turnover for the previous year