Malta provides an extremely business-friendly environment and this is being backed up by a number of incentive schemes which are being offered by Malta Enterprise – the National development agency responsible for promoting and facilitating international investment in the Maltese islands.
Below we provide a generic walk-through of some of these incentives with the intention of providing the reader with a general idea of some of incentives available.
This is the second presentation on the incentives in this series. We recommend you also review Part 1 already published on this website.
This scheme basically encourages Small and Medium Sized Enterprises (SME’s) to improve the quality of their services, products and/or processes.
This scheme offers the possibility of:
• The achievement of recognised quality certifications and quality marks,
• the achievement of recognised environmental certifications
• the acquisition of a franchise license;
• the acquisition of a license required for participation in a value chain.
The investment covers a maximum of Euro 20,000 in eligible costs on approved projects only and will be in the form of tax credit equivalent to 150% of eligible costs.
Digital marketing and applications development
This scheme includes the integration of social media and online marketing into several different aspects of a business operation – something which modern businesses cannot ignore. With this scheme, companies can further embrace new technologies and also invest in innovative programmes.
The scheme provides companies – who commission a digital game to serve as a marketing tool to promote their product online – with a tax credit equivalent to 100 per cent of the total subcontracted costs up to a maximum of EUR 15,000.
Interest Rate Subsidy Scheme- Hospitality Industry
Another sector which offers extensive potential for growth is the hospitality sector. Changes in business models require operators in the hospitality industry to innovate and align their offering with new market expectations. The Interest Rate Subsidy Scheme provided by Malta Enterprise is intended to support hotels, restaurants and holiday accommodation providers in upgrading their operations and product offering so as to provide new and improved services.
Approved projects may receive an interest rate subsidy of between 1% and 3% on interest payable on a bank loan during the first five years of a loan period. The subsidy may cover loans required for refurbishing and upgrading of premises.