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COVID-19: €2,500,000 Industrial Rent Subsidy Scheme launched

The Minister for the Economy, Investment and Small Businesses Silvio Schembri has launched the Industrial Rent Subsidy Scheme 2020 with a budget allocation of €2,500,000.

The scheme will be applicable between the 1st  of February until 31st December 2022. Its aim is to provide financial assistance to new businesses and self-employed individuals, seeking to rent an industrial space from a third party to launch a new business activity, implement growth plans, handle an increase in orders and implement innovations to increase efficiency. Companies, cooperatives and registered self-employed can benefit up to €75,000 over three years in rent subsidy through an aid intensity of up to 50% of the cost.

Who can apply

Companies and self-employed individuals engaged in the following sectors:

  • manufacturing;
  • repair of machinery and equipment;
  • maintenance and repairs of motor vehicles;
  • other industrial activities.

Applicants must demonstrate that during the two fiscal years preceding the year in which the application is submitted, they employed one hundred or less persons on a full-time contract. Annual turnover must not have exceeded €10 million in the two fiscal years preceding the year in which the application is submitted.

Click here to download the application >