Need Industrial Space? You might be in luck!
19 November 2020
Does your business have ten employees or less ?
Does it involve any of these activities ?
- manufacturing and/or assembly
- any repair work
- preservation and maintenance of any goods
- installations of any machinery or equipment
- inspection or testing of plant machinery and equipment
- recycling or treatment of waste equipment
- Any services of an industrial nature
- Fisheries or large scale aquaculture
- Rendering of industrial scale services by a company to a non-resident, like a call centre.
- Research and development programs
- Operations covered by the Malta Freeport Act
- Operation of catering establishments, guesthouses, hotels. Provision of specific ancillary service.
”Malta Enterprise has issued a scheme named "Allocation for Industrial Space for small business activities" where qualifying businesses, in terms of the points above, are eligible to receive possession and title over industrial space of up to 300 square metre.
The space will either be rented to a qualifying business at a rental rate of approximately €4.08 per annum per square meter for the first three years and a maximum rent of €9.32 per square meter per annum for the next 13 years. (Subsequent years will be adjusted according to the Housing index of inflation.
In the case of a piece of industrial property or land that requires considerable capital investment for it to become suitable for the applicant’s purpose the rent may be waived entirely. The land or property will be transferred to the successful applicant for one hundred years and all expenses will be at the charge of the successful applicant.
If you have already been renting out industrial space from a private entity , but for less than a year, you are eligible too: For that industrial space that is being rented out (from the private entity), a rent subsidy can be claimed from Malta Enterprise.
The scheme is applicable to:-
- Maintenance and Repairs of Motor Vehicles;
- Repair of Machinery & Equipment;
- Other industrial activities.
The applicant must be duly:
- incorporated under the Companies Act, Chapter 386 of the Laws of Malta being a partnership en nom collectif, en commandite or a limited liability company; or
- registered as a Cooperative under the Co-operatives Societies Act, Chapter 442 of the Laws of Malta; or
- registered as a self-employed with Jobsplus.
The undertaking must have employed less than 100 full-time employees, in the last two years, and had generated less than €10million revenue during the previous two years. If the applicant is a company, the balance sheet total of the last two year shall not exceed €10m.
The total aid which will be granted is maximum of €25,000 throughout 12months. The support can also be extended for a period of 3 years, but it cannot exceed the grant of €75,000.
The following properties are excluded from the grant:-
- Any property owned by a legal person or group of legal persons related to the single undertaking receiving the assistance;
- Public property;
- Showrooms, display areas and similar properties.