Youths Aged 18 To 30 Offered Financial Aid For First Start-Ups

Youths aged between 18 and 30 setting up their first start-up company will be eligible for financial assistance covering company registration and legal costs, the Government has announced.

Economy Minister Silvio Schembri said the initiative, implemented by the Malta Business Registry (MBR) and Malta Enterprise, forms part of a manifesto commitment aimed at encouraging youth entrepreneurship and reducing barriers to starting a business.

Under the scheme, eligible companies will initially pay fees due to the MBR before applying to Malta Enterprise for a refund within six months of filing their incorporation or annual return.

Companies will be classified as “Start-Up Youths”, allowing them to access refunds covering incorporation fees and annual return costs for up to five years.

Assistance will also be available for legal costs linked to establishing and incorporating the company during its first year.

Schembri said participating youths will also receive education on the responsibilities involved in running a business as part of the initiative.

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