Latest News 

On 18th March 2020, the Prime Minister, the Minister for Finance and Financial Services and the Minister for the Economy, Investment and Small Businesses announced several measures aimed at supporting businesses and self-employed to counteract the negative effects of the COVID-19 pandemic. Funding Support will issue further and more detailed information in the coming days.

Liquidity injection and bank guarantees

• Deferral of tax payments (income tax, VAT, maternity fund, social security tax).

• €150m allocated as bank guarantees

• €750m allocated soft loans

• Local Banks can accept requests for a 3 month moratorium for personal and business loans.

• Direct injection of €210m to assist the economy and save jobs.

• Guarantees by the Government of up to €900m.

• €35m have been added to the health budget to fund.

Measures targeting employment

• €350 per employee to businesses that have had employees on mandatory quarantine.

• Additional leave for families with children who have both parents/guardians working in the private sector. If neither parent is unable to work from home. €800 benefit per month to the family.

• Enterprises that suffered from a complete suspension of operations such as accommodation, food and beverage, language schools, entertainment ...etc. These will receive 2 days per week based on a monthly salary of €800.

• Self-employed individuals also suffering from a complete suspension of operations will receive a grant equivalent to 2 days per week based on a monthly salary of €800. Self-employed individuals having their own employees shall receive 3 days per week based on a monthly salary of €800.

• Those enterprises, that suffered from at least 25% reduction of operations, will receive 1 day per week benefit based on a monthly salary of €800. Self-employed individuals having their own employees, that also suffered from at least 25% reduction of operations, will receive 2 days per week benefit based on a monthly salary of €800.

• Individuals whose full-time employment has been terminated, as of 9th March 2020, shall benefit from a temporary increase in their unemployment benefit of up to €800.

Social Measures

• Persons with a disability who are unable to work from home and decide to stop working due to health concerns are entitled to €800 for a specific period.

• Persons that have lost their employment and are not current beneficiaries of the rent subsidies shall start benefiting from the rent subsidy. Furthermore, depending on circumstances, persons who are already benefiting from the rent subsidy might benefit from higher rent subsidy rates.

Third Country Nationals

• All enterprises who terminate an active employment contract shall be denied the possibility of applying for third-country national workers.

• The Government of Malta shall no longer accept applications for third country nationals, except for highly skilled workers.

• The Government of Malta shall assist third country nationals to find alternative employment in case of job termination.

Measures already in place

• Fiscal incentives - Postponement of payment of certain taxes (more details to be issued shortly.)

• Facilitation of Teleworking Activities - This call supports Employers/ Self-employed to invest in technology that enables teleworking and to partially cover the costs of teleworking solutions. Support shall be limited up to €500 per teleworking agreement and €4,000 per undertaking. The grant shall be awarded against 45% of the eligible cost. This call is eligible for costs incurred between 1st March and 30th March 2020.

We can help you!

The full details of these measures will be issued shortly and Funding Support will be providing continuous updates. Funding Support can help self-employed and businesses in applying for these schemes and therefore contact us for more information.

• Email - alison@fundingsupport.eu

• Facebook page - Funding Support

• Phone - 79235574