4 ° C
Breaking News

0 Covid cases 28 Nov, 11 hospitalised, 2 in ICU, 146 home monitored, 3,523 recoveries, 36 deaths, 198 incidence rate

FEDEM reports on loans and grants to businesses

FEDEM reports on loans and grants to businesses

By Staff Writer - May 10, 2017


The latest edition of Monaco Business News, published by FEDEM, the Monaco Federation of Employers, has as its main theme the topic of government aid to businesses.

As an example, a loan for new companies is reserved for Monegasques and spouses of Monegasques, provided that the activity concerned constitutes their only professional activity.

This form of help, established by Article 1 of Ministerial Decree No. 2004-261, is approved or not by a Commission chaired by the Minister of Finance and Economy. Funds can be used for rent and towards contributions to the Sickness Insurance Fund for Independent Workers (CAMTI) and the Self-Employed Pension Fund for Independent Workers (CARTI).

The beneficiary may also obtain an installation aid loan of up to €100,000 (and 80 percent of the value of the investment) for a maximum of ten years at a non-revisable rate equal to the 3-month EURIBOR rate at the date of the written request for the loan plus 0.75 points. A one-year grace period may also be granted. Objective of the loan: to assist in the fitting out and layout of the premises, the acquisition of the necessary furniture and equipment, the building up of the stock, and also the purchase of a right to a lease.

This loan can be prepaid without penalty at any time, with three months’ notice. However, it will have to be repaid immediately if the sums allocated are partially or otherwise used for other purposes if the beneficiary is in arrears for three instalments, if the business ceases or is sold.

Other grants and loans are available to Monaco-registered companies without the requirement of Monegasque citizenship, including grants towards projects that involve the use of solar energy and other renewable energy sources. Despite its title, Monaco Business News is available only in French.


FEDEM celebrates healthy relations


Fedem’s latest journal: all you need to know about teletravail

Previous articlePeace and Sport celebrates first 10 years with special stamp
Next articleMbappe brings home consolation goal


Cassandra Tanti

As the world braces itself for the latest Covid mutation and a fifth wave, vaccinations are more important than ever in the fight against serious illness and death. So, where is the Principality in its campaign?

November 29, 2021 | Local News

Omicron has arrived

Stephanie Horsman

The new Omicron variant of the Covid virus, originally spotted in South Africa, has reached France, but is it really something to be worried about?

Luke Entwistle

A last-second Lyon-Villeurbanne three-pointer condemned AS Monaco basketball to an agonising 84-85 defeat in the Euroleague, as Zvezdan Mitrovic’s men slumped to a third consecutive defeat.

Luke Entwistle

AS Monaco couldn’t back-up their midweek triumph against Real Sociedad on Sunday, as Nico Kovac’s men only managed a draw against fellow mid-table side Strasbourg.