New Business Activity Support Scheme
This scheme by the Ministry of Energy, Commerce and Industry provides financial support for the development of new businesses in Cyprus.
The application period for 2024 has closed.
Investment Limits & Grant Amounts
- Maximum total investment: €120,000
- Minimum total investment: €10,000
- The grant amount depends on the applicant category:
| Beneficiaries | Grant Percentage | Maximum Grant |
| Young men and women (ages 18–29) | Up to 70% | €84,000 |
| Men (ages 30–50) | Up to 60% | €72,000 |
| Women (ages 30–55) | Up to 60% | €72,000 |
Eligible Expenses
- New equipment (e.g. machinery, furniture, electronic devices, commercial vehicle, e-shop setup, etc.)
- Special installations (e.g. storage units, fencing, metal structures, etc.)
- Building facilities (construction/expansion, renovation/modification, purchase of property)
- Promotion and advertising (media and social media advertising, participation in trade fairs, etc.)
- Other expenses up to 7% of total eligible direct costs
Growth Consultants Services
Growth Consultants offers the following services:
- Consulting and guidance on how to take advantage of the scheme
- Preparation of business plan and financial projections
- Application submission
- Implementation of the project upon approval
Our team has years of experience and a 100% success rate in application approvals.
Contact us for more information or to schedule a first evaluation meeting to assess your eligibility for the scheme.
T: +357 22-276202
E: info@growthconsultants.com.cy
