BUD supports eligible non-listed Hong Kong enterprises with substantive local operations to develop business in covered markets through branding, upgrading, restructuring and sales promotion projects.
What is current in 2026
The official BUD site reports that from 15 June 2026 the fund added Saudi Arabia, Bangladesh, Egypt, Hungary, Pakistan, Kazakhstan, Mongolia and Brazil to its geographic scope. It also increased the ceiling for an Easy BUD application to HK$150,000 and introduced more targeted support for projects with artificial-intelligence elements.
The Trade and Industry Department also says the SME Export Marketing Fund is being consolidated into BUD from 1 July 2026. That makes BUD the first current programme to check for many export-promotion activities previously associated with EMF.
A better way to scope a BUD project
Write the market case before the expense list. Name the customer segment, route to market, evidence of demand and the operational change required in Hong Kong. Then connect each cost to a deliverable—an approved e-commerce storefront, a distributor campaign, a certification step or a defined process upgrade.
Avoid treating every normal business cost as a project cost. A narrow, well-evidenced project is easier to govern than a bundle of unrelated marketing and technology purchases.
Substantive operations matter
The official FAQ says assessors may consider employees, financial records, customers, contracts, transactions and taxable profits. Shell companies or businesses whose main operations are outside Hong Kong are not regarded as having substantive local operations.
Primary sources
These links are published by the programme operator or responsible authority. Recheck them immediately before applying.
Reviewed by the HK Grant Resource editorial desk on 28 July 2026 against the primary sources above.
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