The purpose of this scheme is to help alleviate the problem of unemployment by attracting unemployed people who would like to be occupied on the basis of Flexible Employment, while simultaneously providing businesses with the means to cope with the difficulties that have risen by the economic crisis in the creation of new job openings, while achieving at the same time the most efficient ways of organizing and improving their competitiveness.
Eligible for inclusion in the scheme are:
• Enterprises/organizations active in any economic sector, which have not reduced the number of employees after the announcement of the scheme on 19/04/2013 and will create one or more new job openings with adjustable conditions. They must also meet the terms and conditions of state funding in the frame of De minimis Regulation.
• Individuals who are registered as unemployed at the Public Employment Service and are citizens of the Republic of Cyprus, or any other European Economic Area member country, or have just the same rights as those, who are legally residing in areas which are under the jurisdiction of the Republic of Cyprus, and have the right to freely engage the labor market.
To the enterprises/organizations included in the scheme, a subsidy of 65% on wage costs of a person is granted, and €200 per month for travel expenses, for a period of 8 months, provided that the employment lasts for at least 10 months.
Companies should have all their obligations arranged in regards to Social Insurance, the Value Added Tax and Income Tax.
The salary of the employee should not be less than €870 gross, and based on the Scheme, a raise should be given after 6 months of employment.