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Rent Subsidy 2020

Scope

The scheme supports businesses the require industrial space as a temporary, or permanent, solution to:

  1. i.Commence a new business activity;
  2. ii.implement growth plans;
  3. iii.handle an increase in orders; and/or;
  4. iv.carry out process innovations required to increase efficiency.

Aid

50% of the rental cost incurred (excluding any taxes) capped at €25,000 over 12-month period. The aid can be approved for a period of 3 years, capped at €75,000 over 3-year period.

This scheme has an overall budget of €2,500,000. The scheme falls under the ‘De Minimis’ rules and obligations.

Duration

Scheme is available from 1 February 2020 to 31 December 2022.

Legal form

Applicants can be companies, partnerships, cooperatives or self-employed registered with Jobsplus.

Eligible activity

The applicant must be engaged in:

a) Manufacturing;

b) Maintenance and Repairs of Motor Vehicles;

c) Repair of Machinery & Equipment;

d) Other industrial activities.

Other important limitations

  • Applicants in the preceding 2 years must have not employed more than 100 Full time employees.
  • Annual turnover in the preceding 2 years did not exceeded €10 million.
  • If the applicant is a registered company, the balance sheet total did not exceeded €10 million in the preceding 2 years.
  • Property must be rented from a third party from the private sector.
  • The property rented should not be owned by a legal person or a group of persons related to the applicant.
  • Public property is not eligible.
  • The rent agreement must have commenced not earlier than 1 year prior to the date when the application was submitted.
  • Showrooms, display areas and similar properties are not eligible.