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Last month, Malta Enterprise launched a scheme intended for start-ups in their first 3 years of operation by subsidising up to 50% of the first 3 years of a new rental. Assistance shall either take the form of a cash grant and/or a tax credit up to a maximum of €150,000 over a rolling period of 3 years.
The start up must be involved in one of the following activities:
Should the start-up be involved in another activity not listed above, the subsidy will only be granted at the discretion of Malta Enterprise. Subsidies on temporary storage facilities required owing to fluctuations in supply and other market disruptions for a maximum of one year would also be considered.
The subsidy is intended to start-ups involved in the above activities and which require additional space to expand or diversify operations or requires new industrial premises due to termination of a prior lease and forced eviction. In the case or termination and forced eviction, the subsidy is limited to the difference in rental costs which would be incurred by the applicant.
The subsidy will be granted in respect of premises which is covered by a development permit for the use for which application is made.
Support covers 50% of the rental costs up to a maximum of €50,000 per annum for the first three years of the rental agreement.
Supporting legislation is the following: https://legislation.mt/eli/sl/463.33/eng
For further information and support please contact Valletta Services Ltd on +35621228340
