Grant scheme for new business activity extended by 6 months

Grant scheme for new business activity extended by 6 months

The Ministry of Energy, Commerce, and Industry this week announced the extension of the deadline by six months, for approved applicants, to fully implement their investment proposals under the first call of a grant scheme that seeks to boost new business activity.

Specifically, according to the announcement, the complete execution of the projects included in the plan should now be finalised within thirty months, instead of the previously required twenty-four, from the date of the approval letter.

Furthermore, considering this decision, it is important to note that point 12.2 of the plan’s guide has been revised.

Consequently, it now states that “the full implementation and completion of their investments, by the conditions set in the Public Financing Agreement, should be achieved within thirty (30) months from the date of the approval letter they receive from the Ministry”.

Moreover, the announcement clarifies that the date of completion of the investment will be determined based on invoices and other documents and/or by on-site inspection.

For those interested in further details or need the revised design guide, it is available on the website of the Industry and Technology service, providing a comprehensive source of information and guidance for applicants. Cyprus Mail

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