MRA Grant for Hong Kong

Expand into Hong Kong with the Singapore MRA Grant

As one of Asia’s most prominent financial and trade hubs, Hong Kong remains a key gateway for Singapore businesses looking to enter Greater China and the wider Asia-Pacific region. Known for its open economy, ease of doing business, and strong legal framework, Hong Kong offers diverse opportunities for SMEs seeking international expansion.

The Market Readiness Assistance (MRA) Grant, administered by Enterprise Singapore, provides funding to support Singapore SMEs looking to explore overseas markets like Hong Kong. If you’re considering business development, branding, or establishing operations in Hong Kong, the MRA Grant for Hong Kong can help reduce upfront costs and increase your success rate.

Why Expand to Hong Kong?

Despite global shifts, Hong Kong retains many strategic advantages as an entry point into the region:

  • Strategic location connecting Mainland China and Southeast Asia
  • Internationally respected legal and financial systems
  • No VAT/GST and a simple, low-tax regime
  • Highly developed logistics and communication infrastructure
  • Sophisticated consumers and strong demand for premium services and brands

Whether your business is in finance, F&B, e-commerce, education, or tech, Hong Kong offers a commercially vibrant, cosmopolitan environment ideal for Singapore companies ready to scale.

What is the MRA Grant?

The Market Readiness Assistance (MRA) Grant helps Singapore-based SMEs expand into new overseas markets. Each eligible company can receive:

  • Up to 70% funding support
  • Capped at S$100,000 per market per fiscal year
  • Support for three categories of activities:
    1. Overseas Market Promotion
    2. Overseas Business Development
    3. Overseas Market Setup

If Hong Kong is a new market for your business, the MRA Grant can help you fund your entry efforts and reduce the risks associated with going abroad.

What the MRA Grant Covers in Hong Kong

The following business activities are eligible for funding when expanding into the Hong Kong market:

1. Overseas Market Promotion

  • Digital advertising on platforms such as Google Hong Kong, Instagram, Facebook, or local Hong Kong publishers
  • PR campaigns or influencer marketing with Cantonese-speaking Key Opinion Leaders (KOLs)
  • Participation in business events like HKTDC exhibitions, StartmeupHK Festival, or Hong Kong International Licensing Show

2. Overseas Business Development

  • Hiring third-party business consultants to conduct B2B matching, distributor search, or customer acquisition strategy
  • Commissioning detailed market research or competitor analysis for Hong Kong
  • Conducting feasibility studies for new product launches in Hong Kong

3. Overseas Market Setup

  • Trademark and IP registration with the Hong Kong Intellectual Property Department
  • Legal, accounting, and regulatory advisory services for business registration or licensing
  • Incorporation of a branch, subsidiary, or local office in Hong Kong

Who is Eligible for the MRA Grant?

To apply for MRA funding, your company must meet the following criteria:

  • Be registered and operating in Singapore
  • Have at least 30% local shareholding
  • Group annual turnover ≤ S$100 million, OR group employment size ≤ 200 employees
  • Have not previously claimed MRA for the same activity in Hong Kong

Once these eligibility requirements are met, you can proceed to prepare your application for Enterprise Singapore.

Use Cases for the MRA Grant in Hong Kong

Here are examples of how Singapore SMEs are using the MRA Grant to successfully enter the Hong Kong market:

  • F&B brands launching with digital campaigns in Central and Causeway Bay
  • Professional services firms (e.g., legal, accounting, fintech) opening satellite offices
  • Retail brands participating in trade shows to attract resellers or franchisees
  • Education and training businesses targeting corporate and executive learners
  • SaaS companies offering productivity tools to Hong Kong SMEs and startups

The MRA Grant enables these activities to be executed with shared cost, improving your financial flexibility during expansion.

Step-by-Step MRA Grant Application for Hong Kong

Here’s a simplified breakdown of how to apply:

Step 1: Develop Your Expansion Plan

  • Define which activities (promotion, business development, or setup) you intend to conduct in Hong Kong.

Step 2: Source Quotations

  • Get formal, itemised quotations from consultants, agencies, or vendors before project commencement.

Step 3: Apply via the Business Grants Portal (BGP)

  • Log in to BGP, fill out the MRA application form, and upload supporting documents like:
    • ACRA Bizfile
    • Project plan
    • Vendor quotations

Step 4: Wait for Approval

  • Enterprise Singapore will review your application.
  • If approved, you’ll receive a Letter of Offer (LOF) — this must be received before starting your project.

Step 5: Execute the Project

  • Carry out the approved activities as planned, while maintaining proper documentation.

Step 6: Submit Your Claims

  • After project completion, submit invoices, reports, and proof of payment to claim the approved funding.

Key Industries for Singaporean Businesses in Hong Kong

Hong Kong has a robust economy built on a variety of high-value sectors. Industries well suited for Singapore SMEs include:

  • Finance & Fintech: Digital wallets, robo-advisory platforms, and compliance tools
  • F&B: Premium dining, cafes, and packaged products with a Singaporean twist
  • EdTech: Online courses and executive training for business professionals
  • Retail & Lifestyle: Fashion, beauty, and wellness brands with cross-border logistics
  • Green & Sustainability: ESG consulting and environmentally friendly tech solutions

Singapore businesses are highly regarded in Hong Kong for quality and reliability — especially in sectors where innovation and trust are critical.

Why Enter the Hong Kong Market Now?

Here’s why now is the right time to expand into Hong Kong with MRA support:

  • Economic rebound post-pandemic with increasing business activity
  • Strong consumer appetite for quality foreign brands and services
  • Gateway to Mainland China via Greater Bay Area integration
  • Favourable tax and business incorporation framework
  • High digital penetration (over 90%) makes it ideal for online-first ventures

Early-mover advantage, paired with government support, positions your business to scale confidently in this globally connected market.

Business Tips for Succeeding in Hong Kong

To increase your odds of success, keep these local insights in mind:

  • Localise content: English works well, but using Cantonese in marketing adds relatability
  • Prioritise speed and service quality: Hong Kong consumers and businesses expect efficiency
  • Engage local distributors or agents: They provide insights into regulations and preferences
  • Understand real estate and rental trends: Especially for retail or F&B operations
  • Build trust through networks: Word-of-mouth and referrals matter, especially in professional services

By executing a culturally aware, locally relevant plan — with the financial backing of the MRA Grant — you’ll be well-positioned to thrive.

Start Your Hong Kong Expansion with MRA Support

The MRA Grant for Hong Kong gives Singapore SMEs the head start they need to enter one of Asia’s most open, connected, and opportunity-rich economies. Whether you’re launching a product, testing a service, or setting up operations, the grant offsets your risk and accelerates your return on investment.

Hong Kong offers a springboard into North Asia and Mainland China — and with the right strategy, your brand can be part of this powerful ecosystem.

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