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Business Development Scheme 2021

Reece Delia  -  29/September/2021

Why is this relevant to your business?

If you are actively seeking new opportunities, then the Business Development Scheme can be the right incentive for you. This Incentive facilitates the development of value-added projects by providing up to 200,000 in assistance that can be awarded to undertakings that carry out a project aimed to expand and transform their business operation or to consolidate their current activities and reengineer their business processes.

Who is eligible?

Eligible projects should be related to future development of manufacturing activities, research and development activities, digitisation of processes, management of waste and environmental solutions and other projects of a strategic nature.

Projects that do not address the specified activities, but which may lead to increase in business performance and innovation, may be supported through tax credits.

What is eligible?

Eligible costs include relocation costs of key personnel, payroll costs, lease and rental of real estate, relocation of tangible assets, procurement of tangible assets, support and advisory services, rights, licenses and certifications.

How much is the grant?

Up to €200,000 may be awarded to initiatives that lead to new opportunities, additional employment, increased competitiveness or widening market reach, in the form of tax credits or cash grants.

This incentive is applicable until the 31st of December 2023.

Contact us for assistance!

KSi Malta can provide you with professional advice and answer any queries that may arise in this regard. Contact our Head of Advisory, Reece Delia on rdelia@ksimalta.com to see how your business can also benefit from this scheme.

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