Regulations providing for assistance to small and medium-sized undertakings were introduced implementing the measures proposed in the 2016 Budget. These Regulations enable the Malta Enterprise Corporation to provide assistance to small start-up undertakings through a cash grant to be repaid over a ten year period. This period may be extended by the Corporation if circumstances so warrant. Any repayment value that is left outstanding at the end of each calendar year will incur interest.
Start-ups which qualify to be classified as an “Innovative undertaking”, or a “Knowledge based technology undertaking”, are eligible for a larger amount of cash assistance.
These regulations further specify that the word “undertaking” used therein refers to limited liability companies incorporated under the Companies Act.
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