As of Monday, November 1, anyone living in Cyprus can get into the first electronic platform through which they can apply for a subsidy to purchase a new non-electric bicycle.
Provided they meet the requirements during the application process.
Subsidies will also be granted to the island’s disabled population, according to an announcement by the Ministry of Transport, Communications and Works.
The bicycle incentive plan was approved by Cabinet on October 15 and provides an overall budget of €570,000 over the next three years.
The maximum amount of the subsidy is €200, including VAT, or the actual purchase price of the bicycle whichever is the smaller.
As for the purchase of a bicycle by a person with disabilities the maximum amount of the subsidy is €800, including VAT or, again, the real purchase price of the bike whichever is the smallest.
A necessary condition for securing the right to subsidy is the total cost of buying a bicycle not to exceed €1,000 (VAT included) for city, road and mountain bikes. For the disabled, bicycles should not exceed €4,000 – VAT included.