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Bud Fund In Hong Kong, What Is It About?

Bud Fund In Hong Kong, What Is It About?

From early 2020 to 2022, the Hong Kong government issued their support to open their branch, entering Hong Kong, and then later for Mainland China and South East Asia. This includes the release of Bud Fund which was launched way back then in 2012, as the funding for foreign companies to open their company on Hong Kong, South East Asia, and Mainland China soil.

So, what is Bud Fund and how does it work? Well, BUD is an acronym for Branding, Upgrading, and Domestic Sales, so the Bud is funds that have been launched to support the Branding, Upgrading, and then Domestic sales for a foreign private company that wants to establish their company in Hong Kong soils, or later into Mainland China. 

These funds were used to support several non-listed Hong Kong companies and enterprises to open their market to the growing sales and productions in Mainland China. These funds would help support the Hong Kong enterprises to create their projects, develop their brands, promote domestic sales growth, and promote their sales into Mainland China, supported by the Bud Fund. 

What Is The Bud Fund?

So what are exactly Branding, Upgrading, and Domestic sales fund? Between 2018 and 2020 the Hong Kong government issued a verdict to boost their economic and geographical scope, especially among the ASEAN (Association of South East Asian Nations), alongside many other countries that comes and signed the Free Trade Agreements, with Hong Kong. 

Thus, there have been created two parallel programs that were created to boost Hong Kong's international economy, as well as the geographical strength among these countries, and this agreement is named the Mainland Programme, and FTA (Free trade agreements) program. From these two initial programs, the government then issued the Bud Fund to further boost the productivity of Hong Kong enterprises. 

Bud Fund Application and Its Markets

bud fund

This fund are created and is now available for most of the Hong Kong enterprises that are looking for a way to undertake projects, in foreign soils, but only for those who had Free Trade Agreement or FTA with Hong Kong, alongside Mainland China that included in the Mainland program. 

This includes many ASEAN countries' markets, including Singapore, Indonesia, Thailand, Brunei, Malaysia, Laos, Cambodia, Vietnam, Myanmar, and the Philippines. 

Outside of the ASEAN countries, the BUD also included the funding for projects and trade agreements for many FTA countries' markets, including the four European states included in Free Trade Association: Iceland, Norway, Liechtenstein, and Switzerland. Many other FTA countries such as New Zealand, Macao, Chile, and Georgia.

In the newly released Hong Kong budget, per February 2021, the Bud Fund Hong Kong now covers more countries, including a total of 37 countries that have been newly added to the FTA with Hong Kong. This included but was not limited to the investment promotion, signed pacts, and trade treaties with the FTA countries such as Austria, Belgium, Canada, Luxembourg, Denmark, France, Finland, Germany, Italy, Japan, Korea, Kuwait, Indonesia, UAE, UK, Mexico, Mainland China, and many other including ASEAN nations.

Bud Fund Programs and What They Provide

The initial funding program provided most of the matching basis that covers a maximum of 50% of the total Branding, Upgrading, and Domestic sales project cost. The enterprise alone has to contribute at least 50% or no less than it has to make its projects approved by the Hong Kong government. 

The total cumulative costs of the projects that have been contributed by the company are approximately around HKD 4.000.000. These are the funds required for the company to be included in the Bud Fund lists, for their projects to be approved to create foreign projects, mainly on the ASEAN trade, Mainland pacts, and the FTA country projects.

Limited Company and Unlimited Company in Hong Kong

Limited Company and Unlimited Company in Hong Kong

There are many kinds of different companies, other than what they sell or produce, the company is also divided based on its ownership and the type of its company shareholder liabilities. In many parts of the world, a private company, and sometimes a state company is divided into Limited Company and Unlimited Company. What are their differences, and what is the definition for each of them?

In this article, we will show you the definition of both Limited company and Unlimited Company alongside their differences, and how you set up a company in Hong Kong. We will take Hong Kong as an example of how you should set up a company in Hong Kong, especially for both Limited and Unlimited companies. 

What Is The Definition of Limited Company and Unlimited Company?

Most of the time, the differences between a Limited Company and Unlimited Company lie in the position of their shareholder, alongside their liability and obligations to the company. Some of us might have heard about the Limited Company because it is one of the most popular types, however, it might be quite rare to find or hear about the Unlimited Company.

The Limited Company is a company model where its shareholders aren’t responsible and are liable for the company's debts, or obligations. Meaning that any debts or obligations owed by the company aren’t the responsibilities of their shareholders. However, the company itself is still liable for every obligation and debt that it owes from third-party contracts. 

As for the Unlimited Company, The unlimited company shareholders have unlimited liability, meaning that shareholders are responsible for every debt, liability, and obligation of the company, even when the company when bankrupt and cannot pay. The nature and responsibilities of the shareholders are determined based on the company’s constitution.

The Differences between Limited Company and Unlimited Company

Limited company and Unlimited Company

From the point of view of the shareholders themselves, we can see the difference here. One of the key differences is in the shareholder position and liabilities. Normally, unlimited company shareholders have more power, but at the cost of more liabilities and responsibilities, whereas the limited company shareholders have less power, but they don’t have many obligations and liabilities from their company.

Here are key differences between Limited and Unlimited Companies, especially for privately owned companies.

  • Minimum Capital requirement – For both private limited and unlimited companies, there has no minimum capital requirement to become shareholders, but for Public limited companies, there will be a minimum capital requirement.
  • Limited liability for their shareholders – Private limited company will have limited liability and obligations for its shareholders, whereas an unlimited company has unlimited liability for its shareholder. 
  • Needing Publishing account – For the limited company, they will need a publishing account, but for the private unlimited company, usually, they won’t need it.
  • Several maximum shareholders, and directors – Both Limited and Unlimited Company have their maximum number of directors with a minimum of one, and the shareholders also minimum of one shareholder.

香港申請居屋|無限公司有限公司財務報告應該如何做?一文睇晒全攻略

香港申請居屋|無限公司有限公司財務報告應該如何做?一文睇晒全攻略

 「居者有其屋計劃」(居屋)由房委會執行,最新居屋2022計劃,供應近9000伙新居屋單位,供綠表及白表人士申請購買。用綠表白表抽新居屋,入息及資產限額各不同。申請居屋真是一個令白表申請人困擾,就是向房屋委員會(房委會)呈交相關證明文件。雖然房委會已經大幅減少所需的文件,但仍很容易「中伏」,只要漏交文件或資料不合符房委會要求,申請人可能隨時被取消資格;雖然可以重新補交資料,但亦可能錯過截止時間,等於自動棄權!所以要注意以下各項,以免發生成功抽得前籌卻無法購入單位的憾事。

白表攪珠中獎需提交:

申請者及家庭成員的一般證明文件

預計向相關機構申請所需時間

預計向相關機構申請所需時間

·出生證明書、公證書或人事登記處證明文件副本

·政府機關簽發的子女領養文件副本

/

/

已婚人士的結婚證明文件

·結婚證書副本

·在內地結婚人士,如從未申領有關證明文件,則須提交公證書副本。

·在香港以舊式婚禮結合,則須宣誓說明並交回正本

·如配偶未獲准到香港居住,須以書面說明,並附上結婚證明書及配偶當地身份證副本

/

不定(需向內地相關部門補領結婚証再作公証)

需到民政事務處民 政諮詢中心,於指定時段辦理。一般而言即日可以辦妥

/

離婚人士、單親家長或喪偶人士

·離婚證明文件副本;如在香港辦理離婚的人士,須提交絕對離婚令(例如表格 6 或表格 7B)副本

·與未滿 18 歲的子女一同申請,申請者須附上已獲法庭判予擁有子女管養權令副本

·同居後分居的人士,女方須附上宣誓書正本,說明同居後分居的日期及子女管養權的安排;男方則須提交已獲法庭判予擁有子女管養權令副本

·如配偶已去世,則須附上死亡證副本·

/

/

需到民政事務處民 政諮詢中心,於指定時段辦理。一般而言即日可以辦妥

/

懷孕滿 16 週或以上

註冊中/西醫簽發列明預產期的證明文件副本

/

 

 

香港申請居屋

 

申請者及家庭成員的入息證明文件

受薪人士(有固定僱主)

《僱員薪金證明書》正本及適用的稅務文件副本

·如未能提供《僱員薪金證明書》,則須提供遞交申請表前 12 個曆月的糧單或入息證明文件副本。

· 若申請者及相關家庭成員居住在僱主提供的宿舍,須繳付宿舍租金證明文件副本。

 

受薪人士(沒有固定僱主)

 

 

自僱人士

有關證明文件副本,例如:

·有效的商業登記證 / 小販牌照(如適用)及有關稅務記錄等副本。`

·以填報日的最近期已經由註冊執業會計師核實的財政報告,如屬有限公司,須連同核數師報告一併提交。

·如屬攤販業務 / 漁民 / 無限公司 / 沒有商業登記人士 / 未能提供證明文件人士,須提交收入及支出證明文件,房委會亦會於審查其申請時將要求相關人士簽署聲明書。

 

申請者及成年的家庭成員如退休、失業 或沒有從事任何工作

·有關證明文件副本

·最近期的學生證明文件副本(沒有收入的學生)

出租/空置物業

最近期的差餉及地租繳費通知書副本。如屬出租物業,另須提交每月平均的出租收益證明文件副本

其他收入(股息、紅利、保險計劃收益、 定期利息、長俸、親友餽贈等)

有關證明文件副本

 

                申請者及家庭成員在香港及香港以外的資產淨值證明

土地

·土地的最近期估值報告副本

·土地持有人證明文件副本

·相關按揭的證明文件副本

·土地用途的聲明,如有出租,則須附有關的文件及收益證明副本

房產:擁有或已協議買賣的物業,例如: 外地住宅、本地或外地商業舖位/工業物業/停車位等

 

·物業的最近期估值報告副本

·房產持有人證明文件副本

·相關按揭的證明文件副本

·物業用途的聲明,如屬出租物業,則須附有關的文件及收益證明副本

車輛:例如私家車和商用車輛等

·車輛登記文件副本(底+面影印)

·有關每部車輛的買賣合約、登記文件、分期付款合約、指定時段之供款表、保險合約及保險費單據等

的士/公共小型巴士牌照

·牌照副本

·相關按揭的證明副本

·如屬出租車輛,則須附有關的文件及收益證明副本

投資

例如互惠基金、單位信託基金、 上市股票、經紀投資按金、商品期貨、 紙黃金、存款證、保險計劃和債券等

有關證明文件副本

經營業務:例如獨資、合夥經營的商號 或有限公司的權益及其業務所擁有的各項資產

·有效的商業登記證副本

·如屬攤販業務,則須提交有關的小販牌照副本

·相關財務報告副本

存款、現金及其他

例如銀行活/定期 存款包括儲蓄/來往帳戶、港幣和外幣 定期存款、港幣和外幣可動用現金及借 出的港幣和外幣貸款

·銀行存摺(連顯示戶口號碼的首頁)或最近一期帳戶月結單及網上銀 行畫面擷取(必須顯示戶口號碼)

·定期存款單據副本

·有關證明文件副本

 

以上就是中獎後,需要提交的證明文件了,繁瑣的步驟和多樣的證明資料害怕忘記錯失機會?那還不快點找我們幫你辦理?我們價格實惠,3天就能出結果,有意者快點點擊一下連結或WhatsApp我們吧!

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