Rent Scheme

This scheme supports small undertakings engaged in an eligible activity that requires industrial space as a temporary, or permanent, solution to:

  • implement growth plans;
  • handle an increase in orders; and/or
  • carry out process innovations required to increase efficiency

This scheme is applicable between 1st March 2016 and 31st December 2019.

Eligibilty

This is incentive is available to all undertakings which satisfy the following the criteria;

  • The applicants must be incorporated under the Companies Act, registered as a Cooperative under the Co-operative Act or registered as a self-employed with jobplus.
  • The applicant must be engaged in manufacturing, manufacturing of gas, waste treatment, materials recovery, maintenance and repairs of moto vehicles and washing and cleaning of textile and fur products.
  • A single undertaking that in the 2 fiscal years preceding the year in which the application is submitted employed 50 or less persons on full time contracts
  • Annual turnover did not exceed €10 million in the two fiscal years preceding the year in which the application is submitted.
  • For a registered company the applicant’s balance sheet should not have exceeded €10 million in the 2 fiscal years preceding the year in which the application is submitted.
  • At the time of application the applicants must not be defaulting on VAT, income Tax or Social Security contributions.
  • The applicants must adhere to the applicable State Aid regulation.

The incentive

The corporation may support through partial reimbursement, costs incurred for rental or leasing of premises required for manufacturing activities, storage of works in progress related to manufacturing activities or storage of raw materials required for manufacturing activities carried out in Malta.

Aid intensity

The aid intensity is established at 50% of the cost incurred after excluding any taxes.

The total aid which may be granted to a single undertaking is capped at €20,000 over a period of 2 consecutive years and is further limited to €10,000 over any period of twelve 12 months and €50 per square metre per annum.

Exclusion

Renting or leasing of the following properties is excluded even if such properties are rented or leased 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.

 

Visit our Grant Scheme online Brochure
Get in touch: info@pkfmalta.com | +356 21 493 041