Funding for your new projects
The Maltese Government provides various incentives for Maltese Entrepreneurs and companies to promote more competitiveness, internationalization and innovation in many sectors. Maltese Companies with foreign shareholders are also eligible for the support. Malta Enterprise is the administrative body for these incentives from soft loans, business advisory support, grants, travel support, organization of international delegations to and from Malta to premises in government owned Industrial parks for very competitive rents, available for certain desirable sectors in Malta. SSCI supports Maltese companies in the sometimes a bit tricky application process, and takes care of all formalities, if required. There are always various and changing incentives and calls open, kindly call us for further information.
EU support for your Maltese Company, some general guidelines
The EU offers under the ERDF (European Regional development Funding) scheme 2014-2020 various funding opportunities in order to help Malta overcome the disadvantage of being an island, having restricted access to resources. It is offered to Maltese registered and operating private Small and Medium Companies (SMEs), even if the owners are foreign. Malta Enterprise is the appointed administrator of these funds and supervised by the relevant EU authorities in Brussels. Certain terms and conditions apply. The aim is
- to encourage the local industry to tap into foreign markets,
- to be on eye level with foreign competitors, to develop or purchase innovative solutions or state of the art equipment ,
- enhance sustainability of the environment, energy sufficiency,
- to encourage investment and to generate new employment under the emphasis of equality.
The Grants can be up to 50% for small Enterprises, minimum value of a proposed project has to be 50.000.-€ , the maximum funding per application in some cases, per company is capped at 200.000.-€. Certain sectors such as Tourism, Hospitality, Agriculture, Fisheries, Transport may be not eligible for ERDF funding, as they have to apply under different schemes under different administrations. Currently the preparation for the first call is carried out by Malta Enterprise, as some changes were introduced since the last circle 2007 to 2013. Once a call is published, there is usually only 8 to 12 weeks until the deadline for applications to be considered. Therefore it is recommended, to make certain homework before the calls are issued. Usually the duration of a project if granted, is 24 months.
The EU definition for SME is the following :
Turnover or balance sheet total in €
|less than 10||< 2 million|
|Small||between 10 and 49||between 10 million and 49 million|
|Medium||between 50 and 250||> 50 million and up|
Other EU Incentives
There are furthermore specialized calls for the hospitality industry , managed by the Malta Tourism Authority and other schemes available these mainly promoting the collaboration between different European countries working toward the same project or in research and development.