TVP is government subsidy programme with the aim to support local non-listed entities in improving their competitiveness. Under TVP, eligible entities can get financing to instate technological services and solutions to improve their business – for example; cloud-based accounting, HR system, and Point of Sale system.
Requirements, at the time of application the applicants must:
- Be registered in Hong Kong under Business Registration Ordinance (Cap. 310) / Companies Ordinance (Cap. 622) / established in Hong Kong by relevant ordinances
- Not be a listed company or a government organisation
- Has significant business operations in Hong Kong
- Be able to demonstrate the project benefits for their business
Scope of funding, the TVP can cover:
- External technology consultancy cost
- Purchase / rental / subscription of hardware, software, and service which are essential for the project
- Project audit fee for project funding exceeding $50,000
Funding Limit, each accepted applicant can get up to 6 projects with cumulative ceiling of $600,000
- Applicant is not allowed to undertake more than 1 project at a time
- Each project should be completed within 12 months
- Applicant must contribute 25% of total approved funding as initial payment in cash
- Relevance of proposal to the applicant’s business
- Reasonableness of budget and details of implementation
- Reputability of engagement consultants or providers
- For those who are interested, should submit their application through this site.
Auditing and Monitoring
For approved funding of $50,000 or more, each applicant must provide statement of income and expenditure audited by Hong Kong CPA. Compliance failure may result in cease of disbursement of funding, the assessor will then may also request to return and repay all funding disbursed.
Link-Pro CPA is committed to back your business up, aside from providing information we are also able to provide assistance in utilising the government programme. In addition, Link-Pro CPA is qualified and an officially registered service provider (SP-086-423) to provide services for your TVP application. Should you need assistance, please contact us.