Subsidy Scheme for Encouraging Enterprise Upgrading and Development

Application


How to Apply

Application Procedures and Required Documents

Application Methods

Applicants may submit the application documents in person, by a representative, or through a bank or financial leasing company operating in Macao to the service locations within the application deadline. Application documents may also be submitted by post.

Note: The DSEDT will assume no responsibility for any errors in the delivery of application submitted by post.

Application Procedures and Required Documents

Applicants must submit:

  1. Duly completed and signed Application Form (available for download from the DSEDT website)
  2. Copy of loan or financial lease contract/other documents of like effect
    (Note: The loan contract shall specify the loan purpose, the drawdown date and the terms of principal and interest repayment; the financial lease contract shall specify the rental, the expiry date of the contract, as well as the consideration for acquisition of the lease object upon expiry of the contract)
  3. Copy(ies) of ID document of the individual business owner/the shareholder(s) of company
  4. Business licence or certificate of equivalent nature (applicable to certain sectors, e.g. Food and Beverage Establishment Licence, Travel Agency Licence, Beauty Parlour Administrative Permit, etc.)
    Note: Written statement is required for those whose said licence or certificate is not available at the time of application due to the business activity is under preparation.  Should the application be approved, the said licence or certificate shall be submitted within 3 months upon completion of the investment project.
  5. Supporting documents for investment projects:
    1. All investment projects are required to submit:
      1. Copy(ies) of receipt(s) for full or partial payment
      2. Proof of full or partial payment (e.g. bank transaction record, copy(ies) of cashier’s order(s) or cheque(s), bank statement(s), etc.)
        Note: If no payment has been made at the time of application, an “implementation proposal” of the investment project shall be submitted
    2. Investment projects of “purchase of industrial or commercial building unit” are required to submit:
      1. Copy of sale and purchase agreement
      2. Copy of notarial certificate of sale and purchase
      3. Photo(s) showing the full view of the unit
    3. Investment projects of “construction, expansion or refurbishment works” are required to submit:
      1. Copy of the first issued works permit
      2. Copy of quotation for the project
      3. Photo(s) before the construction, expansion or refurbishment
      4. Photo(s) after the construction, expansion or refurbishment (applicable to completed works)
    4. Investment projects of “purchase or financial lease of brand new equipment, commercial vehicle, vessel or aircraft” are required to submit:
      1. Copy of sale and purchase or financial lease contract/quotation (the contract or quotation shall indicate that the subject equipment, commercial vehicle, vessel or aircraft is brand new, otherwise additional supporting documentation is required)
      2. Photo(s) of the actual equipment, commercial vehicle, vessel or aircraft (the photo(s) shall clearly show, if any, identification details such as model, serial number and registration number, etc.). If the possession of the equipment, commercial vehicle, vessel or aircraft concerned has not yet been obtained, reference photo(s) of the same model shall be submitted
      3. Copy of registration booklet and ownership registration certificate of the commercial vehicle (applicable in case the possession of the commercial vehicle has been obtained)
    5. Investment projects of “purchase of information software or system” are required to submit:
      1. Copy of sale and purchase contract/quotation
    6. Investment projects of “acquisition of intellectual property” are required to submit:
      1. Copy of licencing agreement or transfer agreement for the intellectual property concerned
    7. Investment projects of “acquisition of commercial concession or franchise rights” are required to submit:
      1. Copy of commercial concession agreement or franchising agreement
  6. Other supplementary documents:
    1. Supporting document(s) showing the drawdown date of the loan or the effective date of the financial lease contract (applicable where the loan has been drawn down or the financing lease contract has come into effect)
    2. Incorporation document(s) containing the list of shareholders (applicable where the shareholder(s) of the applicant consists of a company(ies) not incorporated in Macao)
    3. Other information or documentation that facilitate the analysis and assessment of the application
    4. If a document submitted by the applicant is a duplicate/photocopy, the applicant may be requested, according to the actual circumstances, to produce the original of such document for verification

Notification for providing supplementary documents

  1. When an enterprise submits a application, the DSEDT will immediately check whether the application documents are complete. If not, the applicant will be immediately notified to supplement the required document(s).
  2. In case of any remediable omissions or irregularities found in the application form or documents received, the DSEDT will notify the applicant of the situation within 10 working days upon receipt of the application documents.

Deadline for supplementing documents

An applicant whose application submitted is found to be incomplete and have omissions (including the abovementioned remediable occasions), or requires supplementary documents, shall revise or supplement the relevant document(s) within 3 months upon receipt of notification from the DSEDT.

Documents to be submitted after approval

  1. Bank guarantee document(s)
  2. Status report of the investment project
  3. Other documentation as specified in the approval notification

Service Locations and Hours

Apply in person

  1. DSEDT – Industry and Commerce Support Division
    Address: 3/F, Luso International Bank Building, 1-3 Rua Dr. Pedro José Lobo, Macao
    Office Hours:
    Monday to Thursday, 9:00 – 13:00, 14:30 – 17:45
    Friday, 9:00 – 13:00, 14:30 – 17:30
  2. Macao Government Services Centre (CSRAEM)
    Address: Rua Nova da Areia Preta, n° 52, Macao
    Office Hours: Monday to Friday, 9:00 – 18:00 (no lunch break)
  3. Macao Government Services Centre in Islands (CSRAEM-I)
    Address: Rua de Coimbra, n° 225, 3/F , Taipa
    Office Hours: Monday to Friday, 9:00 – 18:00 (no lunch break)

Fee

Free of charge


Time Required for Assessment

Upon confirming that the application documents are submitted in full, the DSEDT will process the application in the order in which it is received in full and submit the application file to the Secretary for Economy and Finance for assessment within 20 days of confirmation of receipt of all required documents (including all documents that need to be revised or supplemented) and, if any, comments from other public or private entities. After assessment of the application, the applicant will be notified of the assessment result by an official letter from the DSEDT.


Notes/Information for Applicants

Investment projects eligible for subsidy

  1. Investment projects that are carried out in the form of loan, limited to:
    1. Purchase of industrial or commercial building unit
    2. Construction, expansion or refurbishment works
    3. Purchase of brand new equipment, especially intelligent equipment
    4. Purchase of brand new commercial vehicle, vessel or aircraft
    5. Purchase of information software or system
    6. Acquisition of intellectual property
    7. Acquisition of commercial concession or franchise rights
  2. Investment projects that are carried out in the form of financial leasing, limited to:
    1. Financial lease of brand new equipment, especially intelligent equipment
    2. Financial lease of brand new vehicle, vessel or aircraft
  3. The abovementioned investment projects shall also meet the following requirements:
    1. The subject property must be used for the scope of activities of the enterprise carried on by the applicant as specified at the time of application
    2. The subject property is used only in the Macao SAR (subject property that is a commercial vehicle, vessel or aircraft registered in the Macao SAR may be subject to exception on the grounds of business needs)

Criteria of loans eligible for subsidy

  1. The lender must be a bank authorized to operate in Macao;
  2. Term loan with a repayment period not less than 1 year;
  3. Denominated in patacas (MOP);
  4. The loan amount is not less than six hundred thousand patacas (MOP600,000.00);
  5. The loan contract shall specify the loan purpose, the drawdown date and the terms of principal and interest repayment.

Criteria of financial leases eligible for subsidy

  1. The lessor is a financial institute or its financial leasing subsidiary authorized to carry on financial leasing business in Macao;
  2. The lease period is not less than 1 year;
  3. Denominated in patacas (MOP);
  4. The sum of all rental payments under the lease is not less than six hundred thousand patacas (MOP600,000.00);
  5. Equal periodic rental payments, with the delivery of the lease object being the condition for entry into force of the financial lease contract;
  6. The financial lease contract shall specify the rental, the expiry date of the contract, and the consideration for acquisition of the lease object upon expiry of the contract.

Deadline for submission of application

Applicants shall submit applications in accordance with the following deadlines:

  1. For investment projects of construction, expansion or refurbishment works, not later than 6 months from the date of first issue of the works permit
  2. For other investment projects carried out in the form of loan, not later than 6 months from the date of completing the investment project
  3. For investment projects carried out in the form of financial leasing, not later than 6 months from the effective date of the contract

Subsidy period

  1. For loan interest subsidy, the maximum subsidy period is 4 years, counting from the drawdown date of the loan
  2. For financial lease rental subsidy, the maximum subsidy period is 4 years, counting from the effective date of the financial lease contract

Subsidy calculation

The amount of subsidy is calculated on the basis of the repayment of the loan amount, to which subsidy is granted, in equal monthly installment/the payment of the total rental amount of the financial lease, to which subsidy is granted, in equal monthly rentals within the subsidy period.  The amount of subsidy shall not exceed the amount of interest on loan or financial lease actually paid by the beneficiary for each period.

Maximum subsidy amount

The following are subject to determination by Chief Executive’s Decision published in the Official Gazette of the Macao SAR:

  1. Maximum annual subsidy rate
  2. Maximum total loan amount eligible for subsidy for each year
  3. Maximum total financial lease rental amount eligible for subsidy for each year
  4. Maximum amount of loan eligible for subsidy each year for each beneficiary
  5. Maximum financial lease rental amount eligible for subsidy each year for each beneficiary

According to Chief Executive’s Decision No. 39/2021, the maximum annual subsidy rate for loan interest subsidy is 4%, the maximum total loan amount eligible for subsidy each year is MOP600,000,000.00, and the maximum amount of loan eligible for subsidy each year for each beneficiary is MOP10,000,000.00.

According to Chief Executive’s Decision No. 39/2021, the maximum annual subsidy rate for financial lease rental subsidy is 4%, the maximum total financial lease rental amount eligible for subsidy each year is MOP200,000,000.00, and the maximum financial lease rental amount eligible for subsidy each year for each beneficiary is MOP10,000,000.00.

Same Beneficiary:

  1. If the beneficiary is a natural person, the company(ies) in which over 50% of the capital is directly or indirectly owned by the beneficiary is(are) regarded as the same beneficiary.
  2. If the beneficiary is a company, the company(ies) in which over 50% of the capital is directly or indirectly owned by the beneficiary, the shareholder directly or indirectly owning over 50% of the beneficiary’s capital, as well as the company(ies) in which over 50% of the capital is owned directly or indirectly by the beneficiary’s shareholder(s) who, individually or collectively, own(s) directly or indirectly over 50% of the beneficiary’s capital are regarded as the same beneficiary.

Withdrawal of application

An application submitted by an applicant shall be deemed withdrawn if the application process is in halt for more than 3 months after the submission due to reasons attributable to the applicant.

Obligations to be fulfilled and complied with

  1. Lending Bank and Lessor
    The lending bank and lessor must notify the Monetary Authority of Macao (AMCM), with supporting documentation, of the following:

    1. Drawdown date of the loan or effective date of the financial lease contract;
    2. Status of repayment of loan principal and interest or payment of rental by the beneficiary;
    3. Early full or partial repayment of loan, or early payment of rental by the beneficiary;
    4. Deferral of repayment of loan principal or interest, or deferral of payment of rental for more than 6 months by the beneficiary.
  2. Beneficiary:
    1. During the subsidy period, the beneficiary is required to submit an “investment project status report” every 12 months from the drawdown date of the loan or the effective date of the financial lease contract.  The submission period is in the last month of each 12-month period;
    2. During the subsidy period, the beneficiary must fulfil the requirements provided in sub-paragraphs 2), 3), 6) of paragraph 1 of Article 3 and sub-paragraphs 1) and 2) of Article 4 of Administrative Regulation No. 7/2021;
    3. The property involved in the investment project shall not be transferred during the subsidy period;
    4. To coordinate and cooperate fully with the requests made by the DSEDT for performance of supervisory duties.

Cancellation and refund of subsidy

The granting of subsidy will be cancelled under any one of the following circumstances. Under circumstances 1 to 4, the beneficiary must refund the full amount of the subsidy received; under circumstances 5 to 6, the beneficiary must refund the amount of the subsidy improperly received from the date when such circumstances came into being; under circumstances 7 to 8, the beneficiary must refund the amount of subsidy improperly received from the date the deferral began.

  1. Failure to complete the investment project as required:
    1. For investment projects of construction, expansion or refurbishment works, the beneficiary shall complete the project within 3 years from the date of first issue of the works permit
    2. For other investment projects carried out in the form of loan, the beneficiary shall complete the project within 6 months upon receipt of the approval notification (an extension can be requested on reasonable grounds in accordance with paragraph 4 of Article 14 of Administration Regulation No. 7/2021)
    3. For investment projects carried out in the form of financial leasing, the beneficiary shall deliver the lease object within 6 months upon receipt of the approval notification (an extension can be requested on reasonable grounds in accordance with paragraph 4 of Article 14 of Administration Regulation No. 7/2021)
  2. Failure to draw down the loan or effect the financial lease contract as required:
    1. For investment projects of construction, expansion or refurbishment works, the loan shall be drawn down within 3 months upon receipt of the approval notification
    2. For other investment projects, the loan shall be drawn down or the financial lease contract shall be effected within 6 months upon receipt of the approval notification (an extension can be requested on reasonable grounds in accordance with paragraph 4 of Article 14 of Administration Regulation No. 7/2021)
  3. Failure to submit a copy of business licence or certificate as required:
    1. If the relevant licence or certificate of equivalent nature is not available at the time of application due to the business activity is under preparation, the beneficiary shall submit the said document within 3 months from the date of completing the investment project (an extension can be requested on reasonable grounds in accordance with paragraph 3 of Article 9 of Administration Regulation No. 7/2021)
  4. Providing false statement or incorrect or untrue information, or using any illegal means to obtain the subsidy
  5. Breach of the obligations of beneficiary
  6. Discontinuation of operation of the enterprise concerned by the beneficiary
  7. Deferral of repayment of loan principal or interest for more than 6 months without complying with the loan contract or agreement reached between the two parties
  8. Deferral of payment of financial lease rental for more than 6 months

Financial institutions providing financial leasing services in Macao
(Listed in no particular order)

  • Bank of China Limited Macau Branch                                                 Tel: 8792 1729 / 8792 1707
  • Banco Nacional Ultramarino, S.A.                                                        Tel: 2835 5886
  • Industrial and Commercial Bank of China (Macau) Limited            Tel: 8398 2692
  • Luso International Banking Limited                                                    Tel: 8799 4134
  • Bank of Communications Co., Ltd. Macau Branch                           Tel: 2828 6611 / 8898 8225
  • The Macau Chinese Bank Limited                                                       Tel: 8396 2217

Enquiry on interest calculation:

AMCM

Address: 24-26 Calçada do Gaio, Macao
Tel: (853) 2856 8288

【The details of this scheme are subject to Administrative Regulation No. 7/2021】


Content provider: Economic and Technological Development Bureau (DSEDT)

Last modified: 2021-04-01 10:39

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