18 July 2019
Hong Kong-Backed Businesses Qualify for New Qianhai Rent Incentives
In a bid to increase the number of businesses operating out of the cooperation zone, the Qianhai Authority has announced a series of subsidised rent packages. In the case of Hong Kong investors who own a stake of 50% or more in a candidate business and are looking to take workspace equivalent to at least 100 sq m, they will be considered eligible for such incentives should they meet one or more of the following criteria:
- The business in question was established by an individual or legal entity in receipt of a Hong Kong Service Supplier Certificate (in accordance with the relevant CEPA requirements)
- The business has been operating for three years or more and at least one of the shareholders is a corporate body registered in Hong Kong or holds a Hong Kong Business Registration Certificate and has paid all legally-due business tax or enjoys a statutory exemption therefrom
- The business has been operating in Qianhai for a minimum period of 12 months and at least one shareholder is a Hong Kong permanent resident
Full details of these new incentives can be found in the Measures of the Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone Relating to Office Rental Subsidies for Promoting the Return of Enterprises as published by the Qianhai Authority on 17 June this year.
Source: Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone Authority