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.

The Scheme is open to manufacturing units which will invest at least €10.000 (small size enterprises) and €30.000 (medium size enterprises), in new machinery and/or equipment and/or know-how. There is no minimum amount of investment for handicraft units. Handicraft units employing up to 3 persons may also apply for investments made in buildings. This may include the cost of building new premises or the expansion of existing ones.

Entrepreneurs may submit their application form to the Ministry of Commerce, Industry and Tourism, at specified time periods.

The maximum grant per successful applicant is calculated as a percentage on the eligible amount of investment as follows:

A/A Size of enterprise Grant (%) Maximum amount of grant (2007-2013) (€)
1 Micro-enterprises 35 200.000
2 Small size enterprises 30 300.000
3 Medium size enterprises 25 400.000
4 Handicraft units employing up to 3 persons 50 80.000

 

 

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