articles | 11 December 2020

Covid-related special business support schemes to continue in December

The government’s special support schemes towards businesses following restrictive measures to curb the spread of the coronavirus in Cyprus will continue in December.

The special schemes were implemented in November, according to a statement by the ministry of labour, welfare and social insurance.

Applications covering the period December 1 to 31, 2020 will be available at, on a date that will be announced at a later stage.

A prerequisite for the participation of employers is not to have made and not to make any redundancies for financial or other similar reasons.

And the amount of support provided to employees amounts to 60% of their gross earnings, with a maximum monthly amount of €1,214 and a minimum of €360.

Furthermore, the ministry noted that for the participation of employers who are not under full suspension of their operation, it is necessary to prove that there is a real reduction in their turnover compared to the corresponding period last year, which exceeds 40%.

The ministry recalls that the schemes that are already in place concern the tourism industry and businesses/employees related to the tourism industry, companies and employees who are under full suspension of operations or associated with companies that are under mandatory suspension of operations.

It noted that in addition, companies can participate in the above plans  that have  proven to have a reduction in turnover of more than 80% compared to the corresponding period last year, due to the measures taken to address the pandemic and are not in a state of complete suspension of their operations.

The ministry supports as well companies / employees of certain economic activities that were disproportionately affected by the pandemic, very small enterprises and some categories of self employed.


Source: In-Cyprus
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