MIP

Manufacturing Investment Programme (MIP)

Basic application entry conditions

1. The applicant must be a registered legal entity in S A in terms of

1.1. the Companies Act, 1973 (as amended);
1.2. the Close Corporations act, 1984 (as amended);
1.3. Co-operatives Act 2005 (as amended)

2. The applicant must be a taxpayer in good standing

3. Facilities

3.1. New production facility
3.2. Expansion of an existing production facility
3.3. Upgrading of production capability in an existing clothing and textile production facility

4. Products

4.1. The project must be classifiable as manufacturing in terms of the Standard Industrial Classification of all Economic Activities (SIC code 3). See codes here.

Examples:

– Any manufacturing concern where the original form of the product is changed from the original state or if substantial value is added to original product/raw material

– Fruit packing facilities i.e. orange or grape packing facilities.

– Abattoirs, milling plants or cotton ginning.

– Vegetable processing plants where vegetables are processed in bulk.

5. Incentive (Grant)

5.1. Qualifying investment of R5m and below. 30% of qualifying investment cost paid over 3 years as a tax free incentive if client meets all criteria.

5.2. Between R5m and R30m qualifying investment. Between 15% and 30% of qualifying investment paid over 2 years as a tax free incentive if client meets all criteria, on a regressive scale.

5.3. Qualifying investment more than R30m but up to R200m. 15% of qualifying investment paid over 2 years as a tax free incentive if client meets all criteria.

Please note: This grant/programme/incentive is not funding. You need to find funding via own investment, your bank or angel investors yourself.

If you have any questions, please do not hesitate to contact us by completing the contact form above or sending us an email to info@grantsforbusiness.co.za

 

 

 

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