Update as of 6 April 2020: Based on the €1 billion unlocked from the EFSI under the COSME Loan Guarantee Facility and the InnovFin SME Guarantee under Horizon 2020, the EIF will provide guarantees worth €2.2 billion to financial intermediaries, unlocking €8 billion in available financing. The calls for expressions of interest as well as the updated terms have been published today.
Coronavirus: Commission and European Investment Fund (part of EIB Group) unlock €8 billion in finance for 100,000 small and medium-sized businesses
Today’s announcement fulfils the commitment in the Commission Communication of 13 March to bring immediate relief to hard-hit SMEs, with money able to flow already in April. It is part of the package of measures announced by the EIB Group on 16 March designed to rapidly mobilise support for Europe’s SMEs and mid-caps.
As of today, the EIF is offering to the market dedicated EFSI-backed guarantees to contain the impact of the pandemic on small and medium sized enterprises and small mid-cap companies.
Read the full press release here.
Mobilising up to EUR 40 billion and more
We understand that it is a very difficult time for many European small businesses that could be facing enormous challenges due to the #COVID19 crisis.
This is why, as an immediate response to the crisis, the EIB Group has proposed a plan to mobilise up to €40 billion of financing. This will go towards bridging loans credit holidays and other measures designed to alleviate liquidity and working capital constraints for SMEs and mid-caps.
The EIF, as the EIB Group’s specialist arm for SME financing will work through financial intermediaries in the EU Member States and in partnership with national promotional banks.
The proposed financing package consists of:
Dedicated guarantee schemes to banks based on existing programmes for immediate deployment, mobilising up to €20 billion of financing;
All these actions can be implemented quickly to ease liquidity shortages and will be implemented in partnership with NPIs wherever feasible.
The EIB group is exploring possibilities to scale up its overall response to the coronavirus crisis.
“We are all living through trying times, and the EIB Group will work without pause to ensure the EU bank contributes to the rapid resolution of this terrible crisis,” said President Werner Hoyer in the EIB Group’s joint press release.
Information for financial intermediaries
A dedicated EIF Covid Infobox has been created for financial intermediaries to centralise any questions related to the EIF’s covid-19 response measures: covid-fi(at)eif.org
Calls for loan portfolio guarantees to intermediaries under EU programmes COSME LGF and InnovFin SMEG are published on our website. The EIF guarantees are supported by the EU budget under the European Fund for Strategic Investments (EFSI).
Accessing finance for SMEs and mid-caps
We will be publishing the list of EIF intermediaries for COVID-19 related financing support here as soon as the relevant financing agreements have been concluded.
Meanwhile you can check here the EIF’s current network of financial intermediaries in your country.
The South of Malta has been gaining increased popularity in recent years where many individuals are opting to live in the quieter, less touristic areas on the island, often considered the culture of ‘real life’ Malta. – Luxury Real Estate Malta
Home to excellent sea shores, flavorful feasting and 7,000 years of captivating history, Malta is a mind blowing spot to call home. It’s no big surprise sightseers, retirees and expats the same are so attracted to this charming nation.
Truth be told, Malta was as of late named as one of the top expat goals, scoring twentieth spot out of 58 nations in InterNations Expat Insider Survey. Thus, moving along without any more farewell, here are eight reasons why expats searching for a superior personal satisfaction ought to select Malta.
1. Minimal effort of living
From economical land choices to reasonable top notch nourishment, Malta offers an aggressively minimal effort of living. Contrasted with other European nations, including Italy, France and Germany, Malta is one of the most modest goals to live in.
With regards to the general average cost for basic items, Valletta, the nation’s capital, is somewhat more costly than other Maltese urban communities – however the personal satisfaction that accompanies it is more than worth the additional expense. Valletta is as energetic as it is dynamic, with extraordinary shops, cafés that are both high-caliber and ease, historical centers and markets at your doorstep.
In case you’re searching for your own cut of quiet heaven, Gozo, Malta’s sister island, might be a decent pick for you. In addition to the fact that it is less expensive to live on, yet this great little island is greener, progressively quiet and more laidback – making it an ideal spot for expats searching for a casual lifestyle.
2. Excellent climate
Impeccably arranged in the Mediterranean Sea, Malta appreciates 300 days of daylight for every year. In the mid year months among June and August, you can anticipate normal high temperatures of 31°C. Indeed, even in the winter months, temperatures never ordinarily dip under 9°C, so the individuals who disdain the virus will cherish Malta. Indeed, Valletta was as of late named the most smoking city in Europe.
3. Elevated level of security
Malta is likewise probably the most secure nation in Europe. The quantity of significant wrongdoings, similar to manslaughters and savage wrongdoing, are nearly lower than in most European nations. All things considered, Malta experiences some negligible robbery like pickpocketing – particularly in significant urban communities like St. Julians, Mdina and Valletta. So it’s ideal to decide in favor of alert when out on the town – similarly as you would in other significant European urban areas like London or Rome.
4. Great social insurance
Malta has been reliably refered to as having extraordinary compared to other medicinal services frameworks on the planet, so expats moving here should feel very much cared for if the requirement for restorative consideration ought to emerge. The nation’s medicinal services framework is comprised of both private and state social insurance. The state social insurance framework is financed through tax collection and national protection – enabling expats to get to the medicinal services framework for nothing as long as they pay national protection commitments.
There are 8 Government wellbeing focuses in Malta and Gozo, just as a few private emergency clinics in Malta which offer a top notch standard of care. With an ever increasing number of occupants choosing private human services, obviously the expense of care is entirely sensible for the nature of care got. Indeed, a MRI in Malta costs all things considered $168 to $213 while a MRI in the US would cost around $1,500.
Expats hoping to exploit the nation’s private human services area might need to put resources into an expat medical coverage strategy to guarantee they can get to top notch care as and when they need it.
5. Laidback way of life
With a magnificently moderate pace of living, Malta offers a sweet break for those hoping to escape from the bustling idea of metropolitan life. This doesn’t imply that life is excessively moderate, in any case. With all year daylight, the open door for exciting recreation exercises is interminable. From cruising and yachting to windsurfing, kayaking and swimming, watersports are well known here.
Jumping, specifically, is a much-cherished watersport because of the nation’s unmistakable Azul waters and copious plunging areas. On the off chance that you’re a fanatic of both plunging and history, at that point Malta may very well be the spot for you. With noteworthy submerged wrecks, for example, the celebrated The Blenheim Bomber wreck or the P29 watch vessel, there are a lot of sea-going riddles to investigate.
As a little island, another reward is that all that you’ll require is normally inside strolling separation – regardless of whether you’re searching for the closest bistros, eateries, shops, clubs, films, theaters and rec centers. Indeed, it just takes roughly one hour to get from one side of the island to the next, so driving to and from work is never going to take excessively long.
6. Vivid culture
Consistently, Malta has a variety of staggering celebrations – for the most part based on workmanship, culture and religion. As a Catholic nation, every town and town has its very own festa to respect their area benefactor holy person. Setting off to a neighborhood festa is an incredible chance to understanding and submerge yourself in Malta’s rich culture. Anticipate lively marches, flavorful nourishment and staggering firecracker shows.
Just as holding religion in high respect, the Maltese are likewise family-arranged. For example, numerous kids will in general remain in the family home until they are hitched, and guardians will frequently have a functioning job in helping their youngsters discover their feet – regardless of whether this is gaining a house or a vehicle.
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Malta is a well known visitor goal because of its lovely coastlines and rich history, however on the off chance that you truly need to make tracks in an opposite direction from everything, you must visit Gozo. With probably the most marvelous landscape, lovely shorelines, and captivating chronicled locales in Malta, visiting Gozo truly is an occasion to recall.
Regularly sited as the best shoreline on Gozo, it is unquestionably Gozo’s just genuinely sandy shoreline, with the profound yellow sand flawlessly delicate underneath your feet. Due to its ideal spot, delicate sand and incredibly clear water, it can get insufferably occupied in the tallness of summer, so it’s ideal to arrive before the actual arranged time toward the beginning of the day or later at night to maintain a strategic distance from the groups. Lawn chairs and umbrellas are accessible to lease, and there is a bar and a dessert truck for all time left on the passage to the shoreline. On the off chance that sitting around in the sun gets exhausting, Calypso Cave is very adjacent, just like the remaining parts of a Roman estate manufactured right around 2,000 years prior.
One of the most well known vacation destinations in Gozo, voyages through the Tal-Massar Winery encourage guests about the wines delivered in the winery, the wine making process and the historical backdrop of the vineyard. The vineyard itself is wonderful in its sheer scope with the ocean in the far separation. Visitors can share in wine sampling joined by three customary valid Gozitan treats – galletti (Gozitan saltines) with plunges, Gozitan sheep cheddar and conventional bread with sun-dried tomatoes and cold squeezed Gozitan olive oil.
There are numerous excellent and tranquil chapels in Gozo, however Our Lady of Ta’ Pinu Basilica is one of the most fantastic. It is situated on the edge of a sheer coastline bluff, giving stunning perspectives and a very quieting environment. Its birthplaces are obscure however records of it go back to in any event 1534. The Basilica gives a wide scope of profound and religious services, however guests can likewise simply visit to respect the figures and design. Affirmation is free however guests mustn’t wear shorts and ladies should cover their shoulders out of regard of religious customs.
According to this article the property prices in Malta are rising
This have definitely changed in a thousand years
That number is according to the Knight Frank Global House Price Index. Malta came in third at the end of 2016 and a respectable 20th at the end of ‘15.
That consistent track record establishes real estate in Malta as one of the best investments in Europe. A rough analysis says that the price appreciation is not because the government changed a rule that made it easier to buy a house or bank’s started issuing easier credit in Malta.
The price appreciation for real estate in Malta is almost definitely because of economic growth fueled by job creation and some element of speculation.
It’s worth noting that any property price index for Malta is based on asking prices. That’s because final transaction prices are not published publicly.
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The initial phase in obtaining property in Malta is to procure a legal official open. He will hold up the Application for Immovable Property (AIP) for the benefit of the purchaser (whenever required) and aid the purchasing procedure also.
When a property has been picked, contact the dealer or home specialist to make an offer. Upon acknowledgment, the legal official will be in charge of drawing up a buy understanding – otherwise called a konvenju or convenium. In the event that the terms of agreement host been settled by the two gatherings, continue with marking the record.
Malta extravagance summer homes Upon mark of the agreement, the purchaser pays 10% of the selling cost as store. One percent (1%) stamp obligation should likewise be given up to the legal official open for enrollment of the buy understanding and installment to the Commissioner of Inland Revenue.
The buy understanding is normally legitimate for a quarter of a year. During this term, the legal official will perform due constancy to demonstrate credibility of possession. At the point when this has been practiced, he will set up the Final Deed for marking of the two gatherings. The funds owed on the selling cost and stamp obligation must be paid after marking. This flag the finish of the deal.
Commentaries to Transaction Costs Table
The round outing exchange expenses incorporate all expenses of purchasing and afterward exchanging a property – legal advisors’ charges, legal officials’ charges, enrollment expenses, imposes, operators’ charges, and so forth.
Stamp obligation on property moves is for the most part imposed at a level pace of 5% on the property estimation.
The temporary stamp obligation of 1% is payable when the when the public accountant enrolls the guarantee of offer with the Inland Revenue Department (IRD). The rest of the stamp obligation of 4% is payable inside 15 days after the marking of the last deed of offer.
Public accountant Fee
Public accountant expense is for the most part around 0.40% to1% of the property estimation.