Unsure how these changes will affect your current or potential business in Hong Kong?
Speak to our professional team today to discuss what this means for you.
The HKSAR Government has recently announced the setting up of the “Anti-epidemic Fund” to enhance Hong Kong’s capability in combating the novel coronavirus epidemic and to provide relief to enterprises and members of the public affected by the current epidemic outbreak.
To provide relief to retailers to help tide them over their financial difficulties during this challenging time, the Government will launch the Retail Sector Subsidy Scheme under the Anti-epidemic Fund on March 23, 2020.
A sum of $5.6 billion is earmarked under the Fund for the Scheme which is expected to benefit some 70,000 retailers. Each eligible retail store will receive a one-off subsidy of $80,000. The first tranche of payment will be made within April.
To be eligible, an applicant must be:
Under the Scheme, eligible retail stores do not include:
Eligible retail store could submit the application starting from 23 March 2020 to 12 April 2020 via online application system. The Government will make the first tranche of subsidy payment within April.
Under the Scheme, the maximum amount of subsidy for a parent company that operates retail groups or chain stores under the same business registration is $3 million (equivalent to no more than 38 stores).
Applicants are required to submit documentary proof of their applications, including a valid Business Registration Certificate and two other most-recent bills/statements which can ascertain their eligibility for the subsidy such as MPF contribution statements, rental receipts, utility bills, etc.
To read more about the Subsidy Scheme, please read the press release or contact us.
Here a list of supported sectors under Anti-epidemic Fund:
To read more about Anti-epidemic Fund here.
Financial Secretary Paul Chan Mo-po announced the 2020/21 Hong Kong Budget on 26 February, outlining the Hong Kong SAR Government’s plan for the economy and shared their proposals for taxation developments. To read more about Hong Kong Budget 2020/2021.
Speak to our professional team today to discuss what this means for you.
Back to top