INVEGA renders compensations of up to 70 % to self-employed persons for the costs related to renting and operating premises

Since 6 September 2021, small traders operating on the basis of certificates of individual activities or a business licence and carrying out individual activities in rented premises, which were included in the list of limited and indirectly limited economic activities during the second Quarantine, may submit applications to the national development body “Investicijų ir verslo garantijos” (INVEGA) and receive up to 70 % compensation for the costs associated with renting the premises and operating thereof. A total of EUR 12 million has been allocated to the State aid measure “Grants to Self-Employed Persons Affected by COVID-19” when the fixed costs incurred are compensated.

“In order to make state aid to businesses as effective as possible and to see how much self-employed entrepreneurs incur fixed costs that are not covered by the amount of state aid calculated from personal income tax, we offer them a special compensation measure – we will compensate the self-employed persons affected by the second quarantine for the part of the majority of the fixed costs of renting the premises and operating thereof,” says Kęstutis Motiejūnas, Director General of INVEGA.

Self-employed persons may apply for compensation to INVEGA if they have incurred the costs related to renting the premises and operating thereof between 1 November 2020 and 30 April 2021, which include: rental fee, water, heat, electricity supply, elevator, cleaning and storage of premises, handling of building and environment, the costs of building renovations and repairs of equipment, parking spaces or indexing under the original lease agreement.

Up to 70 % of the fixed costs incurred in renting and operating the premises may be reimbursed to a self-employed person, who has benefited from the measure, but the amount paid may not exceed EUR 20,000. The compensation will be a one-off and paid as de minimis State aid.

The compensation will be available to those self-employed persons who have carried out individual activities for at least 90 calendar days during the year 2020 either continuously or intermittently by 6 November 2020 inclusive, and who have been included in the list of restricted and indirectly restricted economic activities during the second Quarantine. If the entrepreneur has changed the form of execution of the individual activity or business licence(s) during 2020, the total duration of the activity over 2020 shall be at least 90 calendar days continuously or intermittently by 6 November 2020 inclusive.

In total, EUR 12 million has been allocated from the State budget to cover the fixed costs of self-employed persons under the measure “Grants to Self-Employed Persons Affected by COVID-19”. Applicants may submit applications for compensation to INVEGA by 15 October 2021 at https://islaidukompensavimas.invega.lt.

About INVEGA
UAB “Investicijų ir verslo garantijos” is a national development body established by the Government of the Republic of Lithuania to assist Lithuanian businesses in obtaining the necessary financing. INVEGA effectively employs money of taxpayers, competently assesses risks and focuses on business projects that create prosperity across the country: the guarantees it provides help to address the problem of insufficient or unattractive collateral for financial institutions and facilitate access to finance through administering and directly granting soft loans, subsidies and risk capital measures.