Business Associations Grant
Business Associations typically perform activities that support collective development and growth of undertakings within a specific sector. Such activities include networking, information gathering, research, and establishing industry standards. These associations play a critical role in establishing best practices, and technical standards. Through this incentive, Malta Enterprise intends to promote the development and continuity of small Business Associations that aim to facilitate collaboration and develop their relevant business sector.
Duration of the incentive
This scheme will remain ongoing until 31st December 2020.
Malta Enterprise will allocate an annual budget of €100,000 for this scheme.
A Business Association is a membership based organization engaged in promoting the business interests of a specific sector. Business Associations aim to achieve common objectives that are expected to support growth, innovation and development of their member undertakings.
Business Associations should have:
Specific targets that address the development needs of the relevant business sector; and
An open membership policy allowing all entities in the relevant sector to become members.
Malta Enterprise supports Business Associations that enhance collaboration between undertakings in the following industries:
Information and Communication Technologies
Aviation and Maritime
Eligible Business Associations
In order to be eligible for this incentive, Business Associations must represent at least ten single undertakings active in the same relevant sector or five single undertakings mainly engaged in a specific activity as defined by NACE rev 2 at four digit level. Furthermore, they must not have more than 100 registered members.
Malta Enterprise will provide grants to cover the following costs.
- Wage costs of Coordinator/Administrator
The wage costs of a Coordinator or Administrator employed by the Association and having the role to animate and support the association’s activities may be supported.
It must be explicitly indicated in the employment contract that the tasks and duties that are to be carried out by the Coordinator / Administrator relate only to the Business Association. Wages shall be calculated on the net pay as indicated in the employee’s pay slip. On a monthly basis, support will be capped at €600 per month which shall be increased to €800 if the employee holds a tertiary education level (minimum MQRC 6). In cases where the Coordinator/Administrator is employed on a part-time basis the maximum support shall be reduced proportionally according to the number of hours worked.
- Annual memberships
A supported Business Association may claim up to €2,000 in relation to costs related to memberships/affiliation with international associations.
- Attendance to international sectorial events held outside Malta
The following costs incurred for attendance and/or participation in pre-approved international events relevant to the Business Association’s scope may be supported:
Participation fees paid to the event organisers
Air travel costs covering two representatives of the Business Association attending an event
The reimbursement for any travel to Europe and the Mediterranean region shall be capped at €250 per person while the reimbursement for any travel outside Europe and the Mediterranean region shall be capped at €500 per person
A per diem allowance may be granted for a maximum of two persons. If the event is held in Europe or in the Mediterranean region the per diem shall be limited to five days or the days of the event (whichever is the shortest). If the event is held outside Europe or the Mediterranean region the per diem shall be limited to seven days or the days of the event plus two additional days (whichever is the shortest).
Aid will be approved on an annual basis, in the form of a grant and each Business Association may receive up to € 10,000 per annum.
How can we help?
For further information including more information on the eligible costs and the application process, please contact either Stephen Balzan on firstname.lastname@example.org or Elaine Camilleri on email@example.com. ACT can help you understand the various schemes managed by Malta Enterprise and how you can benefit from such schemes.
Apart from its offices in St. Julian’s Malta, ACT operates from a second office in Gozo, which is situated in the capital city of Victoria. For an appointment in our Gozo office, please call on 00356 21378672 or send us an email on firstname.lastname@example.org.
This article contains general information only and is not intended to address the circumstances of any particular individual or entity. ACT, by means of this article is not rendering any accounting, business, financial, investment, legal, tax, or other professional advice or service. This article is not a substitute for such professional advice, nor should it be used as a basis for any decision or action that may affect your finances or your business. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Before making any decisions or before taking any action that may affect your finances or your business, you should consult a qualified professional adviser. ACT shall not be responsible for any loss whatsoever sustained by any person who relies on this article.
16th January 2017
Maltese companies are subject to tax at the rate of 35% on their world wide income and capital gains. Malta grants various fiscal incentives to both companies and their shareholders upon distribution of a dividend. Malta is a membe...Learn More
Setting up a Company
Setting up a company in Malta is a relatively straight forward procedure and can be set up within 2 working days, provided we are in receipt of all the information, funds and due diligence documentation we need. The Act that regulates Malte...Learn More
Taking up Residence
Warm climate, friendly people, excellent communication infrastructures, low criminality and many other features of the Maltese islands have made Malta an excellent destination for people to take up residence in. Moreover low rates of taxati...Learn More
In the last few years, a large number of remote gaming operators have established themselves in Malta and the Malta Gaming Authority has to date issued over 400 licenses. The Gaming Licenses There are four (4) different gaming licenses that a prospective applicant may apply for, being:&nb...Learn More
Malta has become a destination of choice for the setting up of Payment Institutions (also referred to as Payment Services Providers or PSPs). A number of advantages has contributed to this success, mainly but not limited to the fiscal incentives granted not only to the payment institutions ...Learn More
Electronic Money Institutions
Malta has recently seen an increase in the number of Electronic Money Institutions (EMIs) looking to set up their operations in Malta. This has been largely due to the growth in the e-commerce and the i-gaming industries. Such EMIs are regulated by the Financial Institutions Act and t...Learn More
Mergers & Acquisitions
We have over the past years acted for a number of international clients in various cross-border transactions, providing advice on all aspects of Maltese corporate structures. Our corporate and M&A practice provides advice on the following corporate matters. (a) Advic...Learn More
Prospects – Services of a Corporate Advisor
‘Prospects’ is a new platform set up by the Malta Stock Exchange in line with its commitment to open up new capital market opportunities, create economies of scale and to afford businesses more competitiveness and sustainability. Through ‘Prospects’, SME’s wil...Learn More
Assistance to Family Businesses
Malta has recently introduced legislation to encourage good governance in the management of family businesses, to assist family businesses to operate their business in an efficient way and to assist such family businesses to transfer their business from one generation to the other. Malta is...Learn More