A Look into the Recently Launched Business Development Scheme by Malta Enterprise 

10 July 2024

Malta Enterprise introduced the Business Development support measure in April 2024 to support and drive regional development through new and transformative business initiatives. This scheme is a golden opportunity for enterprises looking to expand, modernise, and innovate, contributing significantly to Malta’s economic landscape. 

This article explores the eligibility criteria, types of assistance, and the wide range of supported projects and costs, providing a clear understanding of how businesses can leverage this scheme to enhance their operations and contribute to Malta’s economic growth. 

Types of Assistance 

The scheme offers substantial support through cash grants and tax credits, covering up to 75% of eligible costs. This robust financial backing ensures that enterprises can undertake significant projects that enhance competitiveness and market reach. 

Maximum Aid and Eligible Projects 

Businesses can receive up to €300,000 in aid over three consecutive fiscal years. This funding is aimed at a broad range of projects, including: 

  • Establishing, expanding, or modernising eligible activities 
  • Undertaking environmental actions 
  • Launching innovative new businesses 
  • Facilitating employment for workers with disabilities 
  • Collaborating on projects 
  • Upgrading industrial sites, hotels, and artisanal facilities 
  • Re-engineering business processes and digital transformation 
  • Accessing new markets and obtaining certifications 

The scheme covers various expenses integral to business development, including: 

  • Wage costs 
  • Lease and rental of industrial and non-residential properties 
  • Shared industrial or business facilities 
  • Advisory services 
  • Procurement of tangible and intangible assets 
  • Digital technologies 
  • Construction-related services for industrial sites, hotels, and artisanal workshops 
  • Employee relocation 
  • Application Process and Deadline 

The application process is streamlined through Malta Enterprise’s client portal, with first-time users required to register. The deadline for application submission is 30th September 2030, providing ample time for businesses to prepare and submit their proposals. 

Who Can Apply? 

The Business Development Scheme is open to enterprises that play a role in Malta’s economic growth and sustainability. However, certain sectors are excluded from this support, including those involved in gambling activities, real estate business activities, wholesale or retail operations, and financial services. Moreover, applicants must be compliant with Income Tax, VAT, and Social Security payments and be eligible for de minimis aid. 

Why Participate? 

The Business Development Scheme is a strategic initiative designed to foster economic growth, innovation, and sustainability in Malta. By leveraging this support, enterprises can enhance their operations, explore new markets, and contribute to the regional development of Malta. 

How we can Help 

At AE Business Advisors, our dedicated team provides specialised services designed to maximise benefits from Malta Enterprise Incentives. We guide you through every step of the application process with precision and care, ensuring all details are expertly managed. Beyond application support, we offer continuous assistance, including handling claims, annual declarations and updates on new government incentives, to guarantee long-term success and compliance. 

Contact Us

Key Contacts

Russel Camilleri – Head of Accounting, VAT & TAX

Russell Camilleri

rcamilleri@ae.com.mt