General Information

Which companies are eligible for the FinTech Anti-Epidemic Scheme for Talent Development (FAST)?
Applicant companies must be conducting active and substantive FinTech-related business at a physical office space in Hong Kong. Such business must have registered and commenced its business in Hong Kong before 1 January 2020 and still be in operation at the time of application. The applicant must hold a valid Business Registration Certificate or other registration certificate..
How to apply?
When should companies apply?
Will the application involve any interviews?
What is the application procedure?
How much is the subsidy?
How many subsidy quotas are available?
What type of job positions are eligible for applications under FAST?
When and how will applicant companies be informed about the application result?
Is there a time limit for the applicant company to recruit a candidate?
Can the employment of the candidate commence before receiving approval from Cyberport?
How will applicant companies be notified of the status of the application?

Eligibility

How many applications can each FinTech company submit?

Each eligible FinTech company should submit only one application for a maximum of one new job. Multiple applications made by the same company will not be processed by the online application system.

Can enterprise groups apply for the Scheme?
Does the applicant company need to have a physical office?
Is there any requirement regarding the scale of business of companies applying for the Scheme?
Is there any requirement on the profitability/ earnings record of companies applying for the Scheme?
Can organisations without Business Registration Certificate apply for the Scheme?
Can company currently benefiting from other public funding programme apply for FAST?

Position and Employee

What is a new job role?

The position being subsidised under the Scheme should be a new job role that did not exist under the previous company structure. Applicant will be required to submit an organisational chart to indicate that the position being applied for is indeed a new one.

What are the requirements for people applying for jobs created under the Scheme?
Will applicant companies be penalised if the new employee leaves the company during the subsidy period?
If the selected candidate is not suitable for the new job position, can the applicant company replace him/ her with a new candidate?
Can the same person be the candidate of more than one applicant company?
Can a previous employee of the applicant company be eligible as a candidate for the scheme?

Coverage of Subsidy and Disbursement Arrangements

When will the subsidy be disbursed?
The subsidy is divided into a total of four instalments: each consists of subsidy for three months.

After application approval, the first instalment will be disbursed around six weeks.

Subsequently, upon receipt of all required documents for the second, third and fourth instalments, the respective instalments will be disbursed around six weeks.

The subsidy will be paid in full towards the actual lump sum monthly remuneration for the new job and should not, in whole or in part, be retained by the applicant company for whatever reason.
Does the subsidy cover employer’s MPF contribution, allowances, overheads or fringe benefits?
Is the Applicant required to make MPF contributions for the beneficiary in respect of the wage subsidies provided under the Scheme?
Is the subsidy paid under the Scheme taxable?
What kind of documentation will be required as salary proof?
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