Cooperation Zone launches support measures for Macau companies
The Executive Committee of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin published a series of measures yesterday aimed at Macau companies to support their establishment in Hengqin.
The support measures aim to back the growth of Macau-funded enterprises in the Cooperation Zone by establishing a fund to benefit Macau players and lower the operational costs for these enterprises.
The measures apply to all Macau-funded enterprises whose place of business registration, tax registration, and place of statistics are located in the Cooperation Zone, and who have opened business deposit accounts in banks of the Cooperation Zone as main conditions.
The series of measures and funding include rent subsidies for office spaces and commercial properties as well as a commercial properties renovation subsidy.
The rent subsidies apply to companies with a lease agreement of no fewer than three years. This rent subsidy is based on a maximum of 70% of the evaluated rental and shall not exceed RMB70 per square meter per month. The subsidized area cannot exceed 15 square meters per capita, based on the number of employees at the company.
In relation to renovation works, there is also a ceiling of the equivalent to 70% of the renovation expenditure which cannot exceed RMB1,000 per square meter and a cap of a maximum of RMB1 million per enterprise. The renovation subsidy will be paid in two years with 50% of the subsidy amount paid each year.
Besides these subsidies, the Cooperation Zone will also grant cash rewards to particular types of companies, namely those that possess a “Macau Classic Brand” and who are settled in Hengqin. These companies will be granted a one-off settlement reward of RMB300,000 paid after at least one year since commencing operations in the Cooperation Zone.
Another type of reward is to be granted to “Macau Distinctive Shops” and enterprises selected by “Macau Ideas” who will be granted a one-off settlement reward of RMB150,000, also after at least one year of actual operation.
Special grants to local catering enterprises, residents, or Macau legal persons listed in the latest edition of the “Michelin Guide” are also being considered. Eligible entities will be those that opened their first restaurant in the Cooperation Zone with an area of no less than 200 square meters, and have had at least one year of actual operation. They will be rewarded with a one-off settlement reward of RMB500,000 yuan, RMB1 million, and RMB2 million, depending on how many Michelin stars they possess (1, 2, or 3 stars, respectively).
Bib Gourmand restaurants can also be awarded a one-off settlement reward of RMB300,000 if their first restaurant in the Cooperation Zone has an area of at least 100 square meters and has had at least one year of actual operation. The same applies to those selected by the latest edition of Meituan’s “Black Pearl Restaurant Guide.”
Other subsidies and support measures will be also considered for Research & Development projects as well as Conferences & Exhibitions and Legal consultations.
The support measures are already in effect and have been since January 1, 2023, and will remain valid until December 31, 2025.
