FAQs

BUD Frequently Asked Questions (FAQs)

What types of projects are mainly funded by the BUD Fund?

The BUD Fund primarily supports projects related to brand development, market expansion, business upgrading, and related supporting measures. The actual scope of eligible projects is subject to the prevailing fund guidelines and the government’s interpretation at the time of application.

Is it mandatory to submit a specific project for BUD Funding?

Yes. Applicants must submit a specific and feasible project plan with a reasonable timeline. Proposals that are purely conceptual or lack practical implementation details are generally not considered valid applications.

What factors does the government generally focus on when reviewing BUD applications?

The government generally examines whether the project has a clear business purpose, a reasonable connection with the company's actual business, justified budgetary grounds, and whether the project outcomes are feasible and quantifiable.

Is it harder for smaller companies to get funding approval?

Not necessarily. Company size is not the primary factor in BUD Fund approval; the government generally emphasizes project quality, feasibility, and the actual benefits to the company's business development.

Does it mean there is a problem with the application if the government requests supplementary documents or explanations?

Not necessarily. Requests for supplementary documents or inquiries are common procedures during the review process, usually because the government needs further information during the assessment to complete the overall audit.

Which enterprises are eligible to apply for the BUD Fund?

Applicant companies must meet the following criteria:

Registration: The company must be registered in Hong Kong under the Business Registration Ordinance and hold a valid Business Registration Certificate.
Business Operations: The company must have substantive business operations in Hong Kong and must not be a listed company.

Can a Hong Kong subsidiary apply for the BUD Fund if its parent company is listed in Hong Kong or overseas?

A Hong Kong subsidiary can apply for the BUD Fund as long as it is not listed, has a valid Business Registration in Hong Kong, and operates a substantive business in Hong Kong. The parent company being listed does not affect eligibility.

Can a newly established company apply for the BUD Fund?

The BUD Fund is not designed as a start up fund. While the official guidelines do not prohibit newly established companies from applying, applicants must demonstrate ongoing business operations, such as turnover and project scale. For new companies, approval will depend on whether the proposed project is reasonable and aligned with the company’s existing business foundation. OneSEC therefore recommends that companies establish a basic operational foundation before applying for BUD funding.

Can a company apply for funding for a new project while an existing project is still in progress?

A company may apply for funding for a new project. However, it must clearly declare in the application form the progress of any existing funded projects and any other applications currently under review. Please note that the performance and implementation status of existing projects may affect the approval of the new application.

EMF Frequently Asked Questions (FAQs)

Which companies can apply for the EMF (SME Export Marketing Fund)?

Any enterprise that is registered in Hong Kong, has substantive business operations, and conducts promotional activities related to its export business is eligible to apply for EMF funding.

What types of activities are eligible for EMF funding?

Any promotional activity that helps expand into overseas markets may be eligible for funding. This includes participation in overseas exhibitions, trade missions, social media promotion, and other activities that support international market development.

Is there a deadline for EMF subsidy applications?

EMF funding applications are open year-round, and currently the Government has not set a specific deadline. Enterprises may therefore arrange their application timing flexibly according to their marketing plans and make full use of the funding to expand their business.

NITTP Frequently Asked Questions (FAQs)

What types of companies are eligible to apply for NITTP funding?

We bring together expertise across multiple channels to create seamless, connected solutions. Our dedicated cross-functional teams collaborate efficiently to build streamlined digital systems, even in complex environments without clear frameworks.

How many employees can a company nominate for training under the programme?

There is no limit. A company may nominate multiple employees to attend the same course, provided that they meet the eligibility requirements. However, the same employee may not enrol in the same course more than once for the purpose of applying for funding.

How should I proceed if I experience difficulties during the NITTP application process?

You can contact the program secretariat for assistance, or seek help from a professional secretarial firm like OneSec to assist with the application.

DTSPP Frequently Asked Questions (FAQs)

What expenses can the DTSPP Digital Transformation Fund be used for?

DTSPP funding may be used to cover pre-assessed items listed under the Government-designated digital solutions, including new equipment and hardware, software, and other assets related to the programme. This support helps enterprises improve operational efficiency and enhance market competitiveness.

How long does it take to receive the result after submitting a DTSPP application?

The processing time for DTSPP applications depends on the volume of applications received and the completeness of the submitted information. Generally,it takes around two (2) months following the submission of all required and complete documentation.，申請人將收到審批結果通知，亦可用申請編號於網站查詢狀態。OneSEC秘書公司擁有豐富申請經驗，可協助加快申請流程，確保最快獲批。

Is it possible to withdraw a DTSPP subsidy application at any stage?

可以。申請人在DTSPP獲批前隨時可撤回申請。如果當前批次仍然開放，則可以重新提交新的申請。如有需要，OneSEC可幫助企業評估是否應該撤回或優化申請，從而提高成功率。

TCI Frequently Asked Questions (FAQs)

How much funding can a travel agency apply for? Is there a limit to the number of times a travel agency can apply for funding?

Each approved project under the fund is eligible for a government subsidy of 50% of its total approved expenditure, with the travel agency required to contribute the remaining 50% in cash. The travel agency’s contribution must be monetary and cannot be replaced by in-kind items. Since the implementation of the optimisation measures on 8 April 2024, a travel agency may be subsidised for up to six approved projects, with a cumulative funding cap of HK$300,000, inclusive of subsidies received for approved projects since 2016.

Are projects that have already been started or completed eligible for the Travel Agent Information Technology Development Matching Fund Scheme?

If a project has already started or been completed, it is not eligible for funding under the Travel Agent Information Technology Development Matching Fund Scheme. Travel agencies must submit their application before the project begins and plan ahead, rather than applying retroactively.

Can a travel agency apply for other government funding for the same project while applying for the Travel Agent Information Technology Development Matching Fund Scheme?

If the project you are applying for, or any part of it, has already received or will receive funding from other government schemes, or sponsorship or donations from other sources, it is not eligible for the Travel Agent Information Technology Development Matching Fund Scheme. In short, double-dipping is not allowed.

註冊香港公司常見問題

How long does it take to open a Hong Kong company?

If using e-Registration, a Hong Kong company can be completed in as fast as 1–2 business days. Paper application takes about 5–7 business days.

Is only a Hong Kong resident eligible to be a director of a Hong Kong company?

No. A Hong Kong company director can be of any nationality, provided they submit valid identification documents.

Can Mainland resident and Foreign Nationals set up a company in Hong Kong?

Yes. As long as the conditions specified by government departments are met, both Mainland residents and foreign nationals can register a company in Hong Kong. The entire registration process can be completed remotely, with the company secretarial firm handling document processing and submission.

What is the minimum share capital to incorporate a Hong Kong company?

The minimum share capital for registering a Hong Kong company is only HK$1. However, companies commonly adopt HK$10,000 as the nominal share capital to facilitate future shareholding arrangements.

Is it mandatory to have a company secretary after establishing a Hong Kong company?

Yes, it is a legal requirement under the Companies Ordinance. A company secretary may be a Hong Kong resident or a professional corporate secretary service provider like OneSec.

Do I need to file tax or audit immediately after successful Hong Kong company registration?

No, generally, the Inland Revenue Department will issue the first Profits Tax Return about 18 months after incorporation. Afterward, the company needs to conduct an audit and file tax returns annually.

When is the annual return required after registering a Hong Kong company?

Hong Kong companies are required to fulfil two annual compliance obligations: 1. Renew the Business Registration Certificate (BR) each year; and 2. File the Annual Return (NAR1) within 42 days after the company’s incorporation anniversary date.

Can a company secretarial firm assist in opening a company bank account?

A company secretarial firm can assist the company in preparing documents and providing professional advice, but whether the bank approves the account is ultimately decided by the bank.

After setting up a Hong Kong company, can I appoint a company secretary to handle changes to directors or company information?

Yes, a company secretarial firm can assist with various company changes, such as adding/removing directors (ND2A), changing company address (NR1), and changing share capital or shareholder particulars (NSC series forms), among other statutory changes.

註冊中國公司常見問題

Can Hong Kong residents register companies in China?

Yes, Hong Kong residents may establish a Mainland China company in their personal capacity, or appoint a Hong Kong company as the shareholder. If a Hong Kong company acts as the shareholder, a board resolution is typically required. We can assist in preparing this document if needed (additional service fees may apply).

How long does it usually take to register a company in mainland China?

The standard incorporation timeline is approximately 20–40 working days. If the business involves regulated industries requiring special licenses (such as education, catering, tourism, or financial services), the overall timeline may be extended due to additional approval procedures.

What is the minimum registered capital for registering a Mainland company?

Currently, most industries no longer have minimum capital requirements, and with the Mainland adopting a subscription system, enterprises do not need to inject capital immediately upon registration. However, some industries (e.g., education, finance, tourism) still have clear capital thresholds.

Is a commercial address required for company registration?

因地區政策而異，但多數城市都要求使用合規商業地址。如企業沒有內地辦公室，OneSEC 可提供指定城市的合法註冊地址方案。

Is it mandatory to hire a professional accountant for bookkeeping and tax filing after a company is established?

Yes. All companies registered in Mainland China are required to maintain monthly bookkeeping and file tax returns. Failure to submit filings on time may result in penalties, inclusion in the “Abnormal Operations List,” and potential impact on the company’s and legal representative’s credit record. If needed, OneSec provides professional accounting and tax filing services to ensure ongoing compliance.

Is annual inspection required after registering a company in China?

Yes. Companies must submit an annual corporate report each year and maintain ongoing bookkeeping and tax filings to ensure the company remains in good standing.

Can a Mainland company freely receive RMB after registration?

Yes, but only after opening a basic corporate bank account. If cross-border payments and receipts are involved (such as foreign exchange settlement, cross-border e-commerce, and so forth), separate filing with the State Administration of Foreign Exchange may be required. OneSec can provide a checklist and process guidance for opening a corporate bank account, improving approval efficiency.

Does OneSec provide one-stop China company registration services?

Yes. We offer a complete one-stop China company setup solution, covering the full lifecycle from incorporation to ongoing operations: Company name pre-approval → Company registration → Seal engraving → Tax registration → Bank account opening guidance → Bookkeeping & tax filing → Ongoing compliance management This enables you to successfully establish and operate a Mainland China company from the ground up.

Company Deregistration Frequently Asked Questions (FAQs)

What do I need to prepare for the deregistration of a limited company?

For limited companies (e.g., XXX Limited), the following documents are generally needed to apply for deregistration:

✅ Latest Business Registration (BR) Certificate
✅ Incorporation FormNNC1 or the latestAnnual Report Form (NAR1)
✅ If there are changes to directors, shareholders, or the company’s registered address, the corresponding change forms (such as ND2A, NR1, etc.) should also be submitted.

💡 All of these documents are required; missing any may cause delays in the application.

How to deregister a company branch?

If you are only closing a branch, the deregistration process is relatively simple. You only need to provide:Copy of the branch’s current Business Registration Certificate. We will then assist you in notifying the Business Registration Office of the branch closure.

What documents are required for the deregistration of an unlimited company?

If you are operating an unlimited company (such as a sole proprietorship or partnership), the company deregistration process is also relatively simple; you only need to submitthe latest Business Registration Certificate.We will assist you with the closing notice and handle the payment and cancellation of business registration fees.

香港公司審計常見問題

Is audit still required if the company has no actual operations?

Generally yes. Even if the company has no business income or transactions during the relevant financial year, a "dormant" audit report issued by a practicing accountant must be submitted to comply with tax filing requirements.

Is an audit the same as filing a tax return?

They are not the same. An audit is an independent verification process of a company's financial statements, while tax filing involves submitting a profits tax return and related documents to the tax authorities.

What are the consequences if the audit is not completed on time?

Failure to complete the audit on time may result in delays in profits tax filing, and may attract inquiries from the tax authorities, or even lead to fines or other compliance risks.

When should I start preparing for company audit?

It is generally recommended to start preparation as early as possible after the end of the financial year to match the tax filing deadline.

Is the company's audit fee fixed every year?

Not necessarily. Audit fees typically vary depending on the company's transaction volume, business complexity, and documentation, and may differ from year to year.