The deadline for this scheme is on the 31st of December 2020.
This incentive aims to facilitate value added projects that are expected to contribute to the regional development of Malta and to support existing undertakings sustain operations during restructuring.
This Scheme may support the initial development phase by undertakings establishing an operational base in Malta, expansion projects or the consolidation of activities and the reorganization of activities amongst others.
The aim is that supported initiatives should lead to the development of new business or to ensure the continuity of current operations.
Eligible undertakings must be deemed to be relevant to the economic development of Malta. The Corporation shall consider all proposals but shall give priority to:
- Manufacturing Operations
- Providers of Industrial Services
- Creative Enterprises
- Development of Digital Media
- Activities linked to Life Sciences.
- Public entities
- Entities excluded under the de minimis regulations
- Undertakings engaged in real estate
- Retail and wholesale
- Hotels, resort hotels, suite/aparthotels or guest houses
- Financial services or Insurance
- Voluntary organizations
The corporation may award tax credits or cash grants up to EUR 200,000 to eligible enterprises over a period of three consecutive fiscal years. The extent of the aid granted will take into consideration the potential contribution of the project to the Maltese economy and the number of new jobs that will be created or maintained in Malta.
The value disbursed in any fiscal year shall not exceed the wage costs incurred by the single undertaking in that fiscal year.
The corporation may grant aid under this incentive as:
- Assistance equivalent or less than an increase in paid up share capital invested in the beneficiary which takes place after the assistance has been approved by the Corporation; and/or
- Reimbursement of the eligible expenses listed below.
- Relocation Costs of Key Personnel
- Temporary Secondment of Personnel
- Relocation costs of Assets
- Operating expenditure covering the twelve months including: telecommunication costs, rental of business premises, water and electricity costs, professional services.
- Services directly related to the business operations
- Wages Costs – for full time contracts of at least 24 months
How can Erremme help you?
Erremme can guide you through the application process by completing the relevant application forms, business plans and other documents. The admission process is managed and regulated by the Malta Enterprise and these Incentive Guidelines will remain active until 31st December 2020.
For more information contact us on email@example.com