In terms of these regulations, Malta Enterprise may provide assistance not exceeding €25,000 per annum and covering up to 50% of the cost of the rental, provided that a number of conditions set out in the Guidelines published by Malta Enterprise are satisfied.
This incentive is available to small and medium-sized undertakings and the following criteria must be satisfied:
- The applicant must be incorporated under the Companies Act being a partnership en nom collectif, en commandite, or a limited liability company, registered as a Cooperative under the Co-operatives Societies Act, or registered as a self-employed with Jobsplus.
- The applicant must be engaged in:
- Maintenance and Repairs of Motor Vehicles;
- Repair of Machinery & Equipment;
- Other industrial activities
- The applicant must be a single undertaking that in the 2 fiscal years preceding the year in which the application is submitted, employed 100 or less persons on Full-Time contracts.
- The applicant must be a single undertaking whose turnover did not exceed €10 Million and its balance sheet total should not have exceeded €10 Million in the 2 fiscal years preceding the year in which the application is submitted.
- For the rental agreement to be considered for assistance, the identified property must be rented from a third party in the private sector which is not related to the single undertaking. The rent agreement must have commenced not earlier than 1 year prior to the date when the application was submitted to the Corporation.
- An applicant for such assistance must be submitted on the appropriate claim form template produced by the Corporation and shall include all the required supporting documentation.
Renting or leasing of the following properties is excluded even if such properties are rented to address the objectives of this incentive:
- Any property owned by a legal person or group of legal persons related to the single undertaking receiving the assistance
- Public property
- Showrooms, display areas, and similar properties
This aid scheme is applicable between 1st February 2020 till 31st December 2022.
Publication date: 16/05/2020
Should you need further information, please do not hesitate to contact us.