It would be advisable for the applicants to complete and follow up on the applications so as to acquire in-depth personal understanding of the projects and facilitate more effective follow-up. Applicants are expected to prepare the application on their own and have full knowledge of the applications. It is the responsibility of the applicant itself to complete an application form timely and truthfully, and to provide all supporting documents for the application. The owner/shareholder/director of the applicant may be liable for any misrepresentation, false declarations and omissions, with possible legal consequences and sanctions.

The applicant should assign its staff members as the project coordinator and deputy project coordinator who will act as the main contact points between the applicant and HKPC after the application is lodged and throughout the project implementation period if it is approved. In this regard, the applicant should provide valid and direct contact telephone numbers and email addresses of the project coordinator and deputy project coordinator in the application form.

The project coordinator or the deputy should not delegate the overall project leadership responsibility to any third party. At any stage of application, project implementation and monitoring, HKPC may request to meet, interview and/or visit the project coordinator and/or the deputy in person. An application may be rejected if the project coordinator and/or the deputy cannot be directly reached by the telephone numbers provided; is/are unavailable for or refuse to attend the aforementioned meeting, interview or visit in person without reasonable explanation; and/or cannot address enquiries related to the applicant and the application satisfactorily during these sessions

We offer ample assistance to prospective applicants in drawing up their applications. Firstly, we have provided information online through the Scope of Funding (Summary) and Budget Planning Tool provided by the Application Tips webpage. For more tailored assistance, prospective applicants may access the free one-to-one consultation services of SME ReachOut or the BUD Fund Consultation sessions. During these sessions, officers from HKPC provide assistance to applicants in completing application forms, and offer advice on developing enterprises' business plans relevant to the BUD applications.

Projects facilitating business development in Hong Kong are not eligible for the BUD Fund – only projects developing the Mainland, FTA and/or IPPA markets are eligible. Enterprises in need of extra capital may consider other SME funding schemes.

The majority of applicant enterprises with the intention of developing the Mainland, FTA and/or IPPA markets can simply create projects for application by adjusting their current business plans to fulfil the BUD Fund requirements.

Applicant enterprises unfamiliar with the target markets can submit Type (i) Project Applications to engage qualified service providers to help develop holistic business plans. Refer to paragraphs 1.4 and 2.2 of Guide to Application for details.

Effective from 16 November 2024, the markets covered under the FTA and IPPA Programme of the BUD Fund include the ten member states of the Association of Southeast Asian Nations (Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam), Australia, Austria, Bahrain, Belgo-Luxembourg Economic Union, Canada, Chile, Denmark, the four member states of the European Free Trade Association (Iceland, Liechtenstein, Norway and Switzerland), Finland, France, Georgia, Germany, Italy, Japan, Korea, Kuwait, Macao, Mexico, the Netherlands, New Zealand, Peru, Sweden, Türkiye, the United Arab Emirates and the United Kingdom.

In order to meet the BUD Fund application requirements, an applicant enterprise may need to set up a local entity with eligible investment relationship in the target market before implementing project measures and obtaining local business licences/permits.

Enterprises wishing to set up a branch company in their target markets through the BUD Fund may refer to 2.1.3, Annex 3, Annex 4 and Annex 5 of Guide to Application for details.

Some businesses (such as regulated industries* or those involving sales of products or licensed brand) may require relevant documentary proof (such specific health or safety certificates, licensing/agency agreements, licences, etc.) from the target market in order to operate legally. If relevant licence/qualification/certification is not obtained when submitting application, the project may be considered infeasible and the application would be rejected. In addition, projects will not be funded without documentary proof of relevant licences/qualification/certifications.

* Common regulated industries include:food, medical, e-commerce, professional services (such as auditing, financial services, etc.), toys, maternal and infant products, education, publishing, etc.

The funding ceiling for each approved general application and “E-commerce Easy” application are HK$800,000, while “Easy BUD” application is HK$100,000. Each enterprise is entitled to a maximum of 70 approved projects, and the cumulative funding ceiling for each enterprise under the BUD Fund is HK$7 million.

Large-scale projects may be broken down into smaller ones for subsequent applications.

Initial payment is not applicable for “Easy BUD” application.

You may opt for initial payment if applying for “general application”.