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.

An application may be submitted by any existing Company (SME), which are legally established and doing business in the region of Cyprus controlled by the Republic of Cyprus, or/and regions within the British Bases in Cyprus, for which all the below basic conditions are met:

a) The Company is established under the Companies Law (section 113) as a limited liability company.

b) At the date of submission of the application. the company has completed (closed) at least one (1) year of operation and has submitted a tax return.

There are two (2) different Packages of financial assistance from which any company may choose. Each package includes compulsory expenditure which the approved enterprises shall make in order to receive the grant.

1) To promote the presence of small and medium-sized enterprises, with their own website on the Internet.

Eligible costs

a) Compulsory - Development of a dynamic web-site and web hosting costs for two years

b) Optional- CPU and peripherals

Funding provided is Euro 1.600 at 50% of eligible costs as described above

2) Enhancing the use of electronic commerce, as a tool for the expansion of business opportunities and facilitating the day-to-day operation of small and medium-sized enterprises.

Eligible costs

a) Compulsory – Development of e-commerce web-site (e-shop)

                      - Inventory control system

                      - Web hosting costs for two years

b) Optional - Operational ERP system that is aimed at more efficient handling of the main activities of the company and its online store

                 - Two CPUs and peripherals

                 - Server (for the companies that will implement an ERP system)

Funding provided is Euro 26.600 at 50% of eligible costs as described above

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