Manufacturing and industry services

The scope of these programmes is to increase the competitive advantage of Cyprus Orgnaisations through insentives given amongs other, for introducing new technologies, purchasing new machinery, establishing of new production lines and promotion of new activities for entreprenurials
Most popular schemes are listed below:

Grant scheme by the Ministry of Commerce Industry and tourism to Cypriot companies to invest in web presence

The aim of the project is to develop and promote the use of electronic commerce by Cypriot companies and to exploit potential opportunities offered by the internet and the new technologies of the communication age, with the extension of the activities of such enterprises.

Grant scheme by the Ministry of Commerce Industry and tourism to Cypriot companies to explore foreign markets

The Ministry of Commerce, industry and tourism in the context of its efforts to educate the Cypriot exporters for marketing conditions in foreign markets, provides financial aid to cover the costs of a round-trip in foreign countries with the sole purpose of conducting market research in countries where they intend to use their products for the first time.

Grant schemes for Cypriot companies which participate at their own expense in trade fairs abroad (outside the territory of the Republic of Cyprus)

The Ministry of Commerce, Industry and Tourism in the context of its efforts to view Cypriot products and train Cypriot businesses for marketing in foreign markets, provides financial support to cover part of the costs of the above undertakings participating in trade fairs abroad (outside the territory of the Republic of Cyprus) at their own expense.

Grant scheme for agriculture development

The project aim is to support new or existing enterprises in Cyprus for the creation and/or improvement/expansion of manufacturing/ trading units of agriculture products.

Grant scheme for young entrepreneurship

The project aims at developing, supporting and promoting the entrepreneurship of young people who are residents of Cyprus (20-39 years old) and who wish to do business in any economic activity, making use of their knowledge and their talent.

Sponsorship plan for moving into industrial zones for micro-enterprises

The aim of the project is to provide an incentive in the form of sponsorship on existing micro-enterprises engaged in manufacturing activities or other intrusive activities to be moved to facilities in a specified industrial region. It is clarified

Free Zones

The operation of the Free Zones is ruled by the provisions of the Free Zone Law (N. 69/75), the Free Zones ( Administration and Control) Regulations of 1981 (P.I . 276/81) and by the Free Zones Customs Regulations as they were modified to comply with the EU Regulations. There is one Free Zone in Cyprus that is situated in Larnaca area near the airport and been in operation since 1980.

Grant Scheme for Manufacturing Enterprises located in Cyprus

The Scheme’s main objective is to support, develop and promote small and medium sized manufacturing enterprises (SMEs) as well as specific handicraft units. Enterprises dealing with the processing of agricultural, fishing and foresting products are not covered by the Scheme.

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