BUD Funding Overview
ELIGIBILITY CHECK
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Verify that the company is registered in Hong Kong and meets the necessary eligibility criteria.
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The company should have substantive business operations in Hong Kong
01
PROJECT PLANNING AND DOCUMENTATION
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Define the project’s scope, focusing on branding, upgrading, or market expansion.
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Prepare a detailed project proposal, including objectives, target markets, budget, expected outcomes, and a timeline.
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Gather required documents, such as financial statements, business registration proof, and certifications
02
APPLICATION SUBMISSION
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Submit the application via the BUD Fund’s online system. Applications are accepted on a rolling basis.
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Multiple applications can be submitted simultaneously
03
FUND DISBURSEMENT
Funds are disbursed in installments upon achieving milestones, with a final reimbursement provided after the project’s final report is approved
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06
IMPLEMENTATION AND REPORTING
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Implement the project according to the approved proposal.
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Submit regular progress reports and a final report upon completion, detailing outcomes and any variances
APPROVAL AND AGREEMENT
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Upon approval, the company enters a funding agreement with TID, specifying fund disbursement, milestones, and reporting requirements.
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Up to 75% of the BUD Fund amount is available upon agreement signing, based on the total BUD allocation (not the project amount)
05
EVALUATION PROCESS
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The Trade and Industry Department (TID) will assess the project’s feasibility and alignment with BUD Fund objectives.
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Additional information may be requested, and a timely response is essential for smooth processing.
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Review timelines vary, with initial feedback usually within 2-3 months, depending on volume and complexity