News Local €40,000 state grants to businesses within the walls of Nicosia

€40,000 state grants to businesses within the walls of Nicosia

Incentives, in the form of government grants, of the order of €700,000 will be offered to entrepreneurs who wish to operate or transfer their business activities to areas within the walls of Nicosia.

According to an announcement by the Municipality of Nicosia, the Sponsorship Plan to strengthen business activity is part of the four-year plan for the Rehabilitation/Revitalisation of the Nicosia Green Line Areas (2017–2020) by the Ministry of Interior and has, among other things, the following objectives:

• Attracting to selected areas that qualify as recipients of the Green Line Revitalisation Plan new companies whose activity is predetermined.

• Encourage existing companies to move to the areas of implementation of the Plan with the aim to socio-economically upgrade areas adjacent to the Green Line.

• Encourage companies already operating in the areas included in the Plan to expand their building facilities in order to evolve and become more competitive.

Beneficiaries of the Plan are companies of any size, natural persons – Cypriot citizens and EU citizens, and legal entities – Companies, Associations, Institutions whose majority of the share capital, or voting rights of shares, or partners of another company, or shareholder of another company belong to Cypriot or EU citizens.

The areas of implementation of the Plan, for the Municipality of Nicosia, include the following streets:

Nikokleous, Faneromenis, Mouson, Evripidou, Andrea Louka, Marias Sygklitikis, Lefkonos, Asklipiou, Tryfonos, Ypsilanti, Christofidi, Aeschylou, Aristophanous, Trikoupi, Dionysiou, Alkiviadous, Lidinis, Town Hall Square, Diogenous, Attaleias, Soutsou, Tyllirias, Peiraios, Isaac Komninos, Eptanisou, Palia Ilektriki, Tempon, Manis, Tritonos, Tethlasmenis, Pentadaktylou, Ermou, Ektoros, Ammochostou.

The sponsorship concerns 75% of the eligible estimated cost of the expenditure related to construction works in existing or new buildings in order to create a company with a maximum financial assistance of €40,000 per company.

The deadline for applications is November 30, 2020.

More information and applications for participation in the Plan have already been posted on the website of the Municipality of Nicosia here Sponsorship Plan to strengthen business activity.

Applications can be submitted to the Municipality of Nicosia, Eptanisou 11, 1016 Nicosia, PO Box. 21015, 1500 Nicosia.

Top Stories

Cyprus marks highest rate of registered first-time asylum applicants

The highest rate of registered first-time asylum applicants during the second quarter of 2020 was observed in Cyprus, according to Eurostat. The latest data, released...

Additional two new coronavirus cases added to Tuesday’s 15

The Ministry of Health has announced two additional positive covid-19 cases to Tuesday's total of 15, Philenews reported on Wednesday. One case concerns a football...

World becoming less tolerant of migrants – Gallup poll

The world is becoming less tolerant of migrants, according to a poll released on Wednesday as Europe prepared to unveil a new asylum plan...

Nicosia Central Prisons part of Netflix jail series

Nicosia Central Prisons will be included in a new documentary series by Netflix platform focusing on inter-workings in jails worldwide, according to Philenews. The American...

CSEO to broadcast live webinar on “Humanity’s return to the Moon”

The Cyprus Space Exploration Organisation is broadcasting on Wednesday the second episode of the bi-weekly series of live webinars on “Humanity's return to the...



Pork souvlaki: Put the meat and all the other ingredients in a bowl (not metal) and mix well. Cover the bowl and keep in...

Pastelli (Carob Toffee)

The nutritional sweet of Pastelli is made with the syrup of carob pods, produced by boiling their pulp until it forms a thick, sticky...

Meatballs with tomato and cumin

Place all meatball ingredients in a bowl and knead well with hands. Keep the mixture in the fridge for approximately 1 hour to thicken. In...

Crushed wheat pilaf with sausages and halloumi

Ingredients: 1 cup bulgar wheat ¼ of the cup vermicelli noodles or spaghetti, broken into small pieces 1 onion 2 sausages 1 cup tomato juice 1 vegetable stock cube 1/3 ts...