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Rent Subsidy Scheme 2020

Jessica Camilleri  -  24/November/2021

Why is this relevant to YOUR business?

Whether you are looking for your first industrial location or you are in need of a larger building, choosing the right space is a critical decision. When benefiting from the Rent Subsidy 2020 scheme, price would be less of a worry as this incentive can fund up to €75,000 of rental costs over a period of 3 consecutive years.

Who is eligible?

This incentive is available to small and medium-sized undertakings which are registered either as a partnership, limited liability company, cooperative or self-employed.

Applicants must be engaged in manufacturing, maintenance and repairs of motor vehicles, repair of machinery and equipment or other industrial activities. Furthermore, 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 a Full-Time contract and whose turnover and balance sheet total did not exceed €10 Million in the 2 fiscal years preceding the year in which the application is submitted.

How much is the grant?

This incentive can finance up to 50% of the cost incurred and eligible undertakings can benefit from up to €75,000 for a period of 3 consecutive years.

The Corporation may support costs incurred for rental of industrial premises required to carry out or facilitate the carrying out of the eligible activities mentioned above.

This scheme is applicable until the 31st of December 2022.

Contact us for assistance!

Contact our Advisory Manager, Jessica Camilleri on jcamilleri@ksimalta.com for more information on how your business can get up to 50% back on its rental costs related to industrial space.

 

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