CREATION OF NEW BUSINESSES IN CYPRUS
Our company actively supports the creation of new businesses in Cyprus. In total, we have guided 23 new individuals to open their own business, securing grants worth €1.5 million.
The total budget of the projects amounted to €2,218,000.
The grants were drawn from the New Business Activity Scheme of the Ministry of Energy, Commerce, and Industry, which is announced in specific programming periods and supports Men aged 18-50 and Women aged 18-55 to open their own business.
The grant can reach up to €84,000 and covers Building facilities (purchase, construction, renovation), purchase of equipment and machinery, and business promotion and marketing.
For more information about the Scheme, click here.
New Businesses
Grant Amount
Total Project Budget
DIGITAL UPGRADE OF BUSINESSES
Digital upgrading is a significant factor for businesses to remain competitive, as it helps them automate processes, become more productive and efficient.
In the last 3 years, we have guided 16 businesses to upgrade digitally, securing total subsidies of €342,070.
The total budget of the projects amounted to €694,130.
The grants were drawn from the Digital Upgrade Scheme of the Ministry of Energy, Commerce, and Industry, which is announced in specific programming periods and supports new or existing small and medium-sized enterprises.
The grant can reach up to €50,000 and is equal to 50% of the total budget with a maximum limit of €100,000. Specifically, it covers expenses for: equipment required for digital upgrading, off-the-shelf software, custom-made software, systems, programs, and IT services, purchase of services for digital advertising/promotion, and consultant expenses.
For more information about the Scheme, click here.
Digitally Upgraded Businesses
Grant Amount
Total Project Budget
EMPLOYMENT PLANS
The Plans provided by the HRDA and the Ministry of Labor offer incentives to businesses to provide job positions, practical training, and work experience mainly to vulnerable groups of the population.
In the last 2 years, we have secured subsidies amounting to €55,260.
Employers
Grant Amount
BUSINESSES IN THE WALLED CITY
The revitalization and redevelopment of the old town center of Nicosia is a goal for the coming years. The businesses that entrusted us with their ideas secured a total of €953,520 from the Student Housing Grant Scheme and the Grant Scheme for enhancing their business activity in the walled city of Nicosia.
The total budget of the projects amounted to €1,521,191.
The Grant Scheme for Enhancing Business Activity in the walled city of Nicosia will be in effect until the end of 2026 and supports Natural Persons, Legal Entities, and small and medium-sized Enterprises (newly established or existing).
The grant is equal to 60% of the expenses, amounts up to €80,000, and covers: Building modification/renovation (construction, electrical, plumbing, and mechanical works), Equipment (e.g., furniture, PCs, electronic equipment, and office peripherals), Consultants – Researchers.
For more information, click here.
Projects
Grant Amount
Total Project Budget
TOTAL SUBSIDIES
