Q&A about One-Time Entrepreneurship Subsidies-Company Formation_Trademark Registration_Tax Service - Hong Kong CPA

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Q&A about One-Time Entrepreneurship Subsidies

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The Beijing Municipal Human Resources and Social Security Bureau and the Beijing Municipal Finance Bureau issued a Notice Concerning One-time Entrepreneurship Subsidies on December 11, 2020, to support key groups to drive employment through entrepreneurship. This article aims to solve frequently asked questions in the form of Q&A for clients’ reference.

What are the One-Time Entrepreneurship Subsidies?

The Beijing Municipal Human Resources and Social Security Bureau and the Beijing Municipal Finance Bureau issued a Notice Concerning One-time Entrepreneurship Subsidies. Eligible Entrepreneurial organizations will enjoy a One-Time Entrepreneurship Subsidies of 8,000 yuan, and there will be additional subsidies for hiring the employee of Beijing household registration. The purpose is to support key groups, drive employment through entrepreneurship, and stimulate market vitality and social creativity.

Which entrepreneurial organizations can enjoy subsidies?

Beijing One-Time Entrepreneurship Subsidies are targeted on enterprises or individual industrial and commercial households (hereinafter referred to as entrepreneurial organizations) established in Beijing by the following persons:

The following persons with household registration in Beijing

1.	College graduates in the year of graduation or within two years of graduation - the vocational education graduates of ordinary colleges and universities, advanced engineering classes of technician colleges, preparatory technician classes, and special education colleges that have started their business within the graduation year or within two years of graduation.
2.	The registered unemployed - persons who have registered for unemployment in the public employment service department.
3.	Retired soldiers - retired soldiers who have started a business within one year of approval to retire from active service.
4.	Placement of personnel by social welfare employment organization - persons who have established labour relations with public welfare employment organizations in Beijing and have enjoyed public welfare job subsidies.
5.	The reported company’s diversion of employees - the employees who need to be diverted from enterprises that implement the resolution of excess capacity, relocation, and other major adjustment and reform projects in Beijing in accordance with the relevant regulations of the state and Beijing and are filed with the human resources and social security departments.
6.	Rural labour force - labour force with agricultural household registration.

Entrepreneurs in the countryside - entrepreneurs (including non-Beijing nationals) who are registered as entrepreneurial organizations in the towns and townships of Beijing and drive the employment of laborers with registered permanent residence in Beijing.

What are the One-Time Entrepreneurship Subsidies standard?

The One-Time Entrepreneurship Subsidies of 8,000 yuan will be given to eligible entrepreneurial organizations. Each entrepreneurial organization recruits 1 employee of Beijing household registration (the entrepreneurial organization founded by entrepreneurs in the township recruits 1 additional employee of Beijing household registration based on 3 employees of Beijing household registration) and pays social insurance premiums for a total of 6 months, another 1,000 yuan subsidies will be given. The total subsidies of each entrepreneurial organization do not exceed 10,000 yuan.

Besides the requirements on entrepreneurs, are there other requirements?

The entrepreneurial organization founded by entrepreneurs must also meet the following conditions to apply for the One-Time Entrepreneurship Subsidies:

1.	Starting from the date of issuance of the Notice, entrepreneurs set up the entrepreneurial organization for the first time in Beijing and act as the legal representative or main person in charge.
2.	Entrepreneurs have paid social insurance premiums in the entrepreneurial organization they established for a total of 6 months. The entrepreneurial organizations established by entrepreneurs in rural areas need to recruit up to 3 employees of Beijing household registration and pay social insurance premiums for 6 months.
3.	Entrepreneurial organizations operate normally and pay taxes for more than one year from the date of registration.
4.	The entrepreneurs and the entrepreneurial organizations they founded have good credit and are not included in the Blacklist of Beijing Public Credit Information Service Platform.
5.	The entrepreneurial organization established by qualified entrepreneurs in rural areas that has been operating normally for more than 6 months can first apply for 50% of the subsidy funds.

How to apply for the One-Time Entrepreneurship Subsidies?

The One-Time Entrepreneurship Subsidies application adopts a combination of online and offline methods. Applicants can log on to the Beijing Municipal Human Resources and Social Security Bureau website or bring relevant certification materials to the District Human Resources and Social Security Bureau (Beijing Economic and Technological Development Zone Social Affairs Bureau) where the entrepreneurial organization is registered to apply. The District Human Resources and Social Security Bureau will publicize it for 7 days after completing the review within 3 working days. If there is no objection to the announcement, the District Human Resources and Social Security Bureau shall allocate the subsidy funds to the designated bank account of the Entrepreneurial organization.

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