Who Can Apply?

Applications may be submitted by any existing SME, which is legally established and operating business in the area of Cyprus controlled by the Republic and / or areas within the UK Bases in Cyprus, which met all of the following conditions:

1. Established under the Companies Act (Cap 113) to Society Limited.

This criterion is confirmed by the presentation:

• Company's Certificate of Recommendation from the Department of Registrar of Companies and Official Receiver and
• a copy of the certificate from Registrar of Companies and Official Receiver showing of current shareholders.

2. At the time the application is complete (closed) at least one (1) fiscal year and has submitted a tax return.

This criterion was confirmed by an attestation from the Department Inland Revenue (Form IR 93) that the company has applied for tax statement and that the company has arranged with its tax obligations (For applications submitted in 2011 should have submitted a tax return for the year 2009 or 2010).

3. Are SMEs, as recommended by the Committee of Justice dated 06/05/2003 and numbered 2003/361/EC.

This criterion is confirmed by presenting the following documents:

• Certificate from the Ministry of Labour and Social Insurance for total number of employees in the company for the month of January 2011 and that the company has arranged its contributions to the Social Fund Insurance. Clarified that if the company has more than an identification number, Social Insurance Fund should submit single certificate, which includes all registration numbers.
• Audited financial statements for the years 2008 and 2009. If applicant company directly or indirectly controls through possession of 25% of the capital or voting rights of another s business / s to Attach the following elements of s company / s that s:
  
  i. audited financial statements for the last financial year
  ii. certificate of shareholders,
  iii. confirmation of the number of employees

 
4. The company meets the conditions laid down by Regulation (EC) ar.1998/2006 the Commission on the de minimis (De Minimis) and activities not covered by the provisions of Annex I to the Treaty on European Union.

5. There is difficulty in accordance with Article 1 of the most on Regulation (EC).

This criterion is confirmed by an attestation by independent approved auditors (the form of a statement of independent auditors authorized attached application form).

6. The company has not received any further aid for the same eligible costs.

This criterion is validated by the signature of the company "Responsible Declaration "which will be sent by the Department prior to the payment of grant. Legal person, against whom no final conviction court for deception, fraud and / or other offense, which was conducted relationship with another plan for sponsorship of the Ministry of Commerce, Industry and Tourism, is excluded from payment under this grant Plan, unless 3 years have elapsed from the date of this conviction.

To examine the eligibility of the company, the Evaluation Committee and Ministry of Commerce, Industry and Tourism, may request any additional evidence which reasonably necessary To confirm that the company meets the above criteria. Provided that firms sell / offer the same or similar products / services are included in eligible costs, not as beneficiaries, excluding grants for certain eligible costs.