It is based on the Act of 3 April 2020 on an aid scheme for companies in temporary difficulty.
The main features of this aid are as follows:
- This is an aid in the form of a repayable advance with a interest rate of 0.5% ;
- It is intended for any company or private persons with an establishment authorisation, as well as certain liberal professions;
- The aid amounts to up to a maximum of 50% for staff costs and rent (capped at €10,000 per month) for the period from 15 March 2020 to 15 May 2020. Applications for aid can therefore only be submitted from 15 May 2020;
- The maximum amount of aid is 500 000€ ;
- The company should not be considered as a "business". ailing company "on 1 January 2020. This is the case when the deduction of accumulated losses from reserves results in an accumulated negative amount that exceeds half the share capital;
- Applications must be submitted to Ministry for the Economy by 15 August 2020 at the latest, accompanied by :
- Either the 2019 annual accounts
- Either with available financial data (example: 2018 annual accounts and bank statements showing staff and rent expenditure);
- The aid will be paid before 1 October 2020. The aid will be repaid on the basis of a repayment plan proposed by the applicant company and approved by the State towards the end of the first half of 2021. Repayment of the aid will begin at the earliest twelve months after payment of the repayable advance, unless the company requests otherwise;
If you would like we were responsible for drawing up the application for a repayable advance, we would be grateful if you could return to us by e-mail
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