The Micro-Invest Scheme

Why is the Micro-Invest scheme relevant to YOUR business?

Expanding and developing operations is something all seasoned entrepreneurs are interested in. To this end, the Micro Invest scheme is a scheme that is generally applicable to most businesses and which could definitely help in any projects your business might have in mind. The Micro Invest incentive can cover up to 45% of eligible expenditure for undertakings in Malta and up to 65% for those in Gozo. For costs incurred in 2020 and 2021 by start-up undertakings operating from Gozo, the applicable aid intensity can be increased by a further 15% to 80%.

Who is eligible?

This scheme is applicable to undertakings that did not employ more than 50 full time employees for three consecutive months and whose turnover or annual balance sheet total did not exceed €10 Million in the fiscal year preceding the year in which the application is submitted. Furthermore, at the date of application, the undertaking must employ at least one person and the undertaking should be duly registered with the VAT department (unless exempted).

Claims should relate to eligible costs incurred in the previous year. Even though the primary deadline for costs incurred in 2020 has passed, applications can still be submitted, by not later than 24^th May 2023 and with an extended deadline till 13^th December, 2023.

How much is the grant?

The maximum eligible tax credit is capped at €50,000, which can increase to €70,000 for SMEs established in Gozo, female-owned undertakings and those registered as a family business. Eligible costs include a stipulated percentage increase in wages, furbishing and refurbishing expenses, capital investment and/or motor vehicle costs.

It is important to note that applicants who have applied for investment aid measures may not apply for this incentive and for any investments carried out within the same year on the same costs.

Contact us for assistance!

Expanding your business undoubtedly leads to increased complexity as the business often navigates in unchartered waters, but KSi Malta will assist you through every stage of the process. Contact our Head of Advisory, Jessica Camilleri on jcamilleri@ksimalta.com for further information on how you too can avail of this Scheme.