The Government is keen on assisting small and medium-sized enterprises (SMEs) after several reports have shown these predominant among all the companies registered in Malta at the moment. Moreover, the decision comes after the central authorities have modified the law related to family businesses which also represent a great number of SMEs. Our company registration agents in Malta can assist foreign investors interested in opening businesses in this country.
In the last two years, SMEs in Malta have registered some of the most remarkable results since this type of entities have been categorized. This outcome was also the result of the grants and incentives offered by the Government for the during 2014 and 2016. However, the support will be offered for another 4 years, as the programme is meant to be developed between 2014 and 2020. According to officials, the years to come will bring another 100 million euros to small and medium size companies in Malta.
Apart from this aid, another important tool will be the new financing tool offered by a Maltese bank which is soon to be created for this purpose specifically. Companies will be offered loans, investments and guarantees through the upcoming program. The Malta Development Bank Act, as the project was named, should be in place by the end of 2016.
Our Maltese company formation consultants can provide you with a definition of small and medium-sized enterprises, considering these types of companies are subject to several criteria imposed by the Government.
The hundred million euros was divided by the Government into several programs. These are:
The remaining amount will most likely go to the Malta Development Bank project. It should be noted that the funds above are granted in collaboration with the EU. However, Malta also has its own SME Initiative which has set aside 60 million euro funds for the following year. Around 850 companies are eligible for these funds, according to preliminary reports.
For full information on the incentives available for SMEs or assistance in opening one, please contact our company incorporation representatives in Malta.