The Ministry of Energy, Trade and Industry (YEEB), for the purpose of equal treatment of the citizens of the Republic wishing to do business in areas within the British Bases, prepared a similar Sponsorship Plan, based on the provisions of the co-financed project, which will cover the New Business in Areas within the British Base.
The Plan aims to develop, support and promote entrepreneurship by emphasizing specific population groups such as young people and women who wish to do business in any economic activity other than those mentioned in the Plan Guides, leveraging their knowledge, experience, their training and talents.
The intensity of the sponsorship is 70% for young people aged 18-29, while for men aged 30-50 and women aged 30-55 the intensity of the sponsorship will be 60%. The sponsorship is calculated on the cost of the eligible costs of the investment (equipment, special facilities, construction, purchase or renovation / landscaping, promotion and other costs), with a maximum eligible budget per company of € 120,000 for processing activities , services, e-commerce and tourism.
The total budget that will be allocated for the needs of the 1st Announcement of the Plan amounts to € 500,000, and comes from the State Budget.
Those interested can obtain the Plan Guide, which contains all the details, the Application Form and any other required form or document, from the website of YEEB meci.gov.cy (Industry & Technology Service). The application period will start on 25/10/2021 and will end on 31/12/2021 and / or earlier if the available budget is exhausted.
It is noted that applications should only be sent by registered mail to the address: Ministry of Energy, Trade and Industry, 1421, Nicosia, with the indication “New Business Plan in Areas within the British Bases”.
For more information, interested parties can contact the relevant Officers at 22867178/156/317/194.