The Scheme aims to provide incentives for hiring people who:
a) Are aged under 35 and are registered as unemployed at the offices of Public Employment Services.
b) Are holders of a degree/academic qualification of higher eduaction of a duration of at least three years, or postgraduate qualification of a duration of at least one year.
c) Have work experience which is not related to their subject of study, for more than three months. The overall duration of the work experience does not include any occupation which was required as a condition for acquiring academic skills, or obtaining the right to practice.
d) Graduates are excluded if they participated in the respective Schemes in 2013 and 2014, for a period of more than three months.
e) Citizens of the Republic of Cyprus or of any other European Economic Area member country, or any other who enjoy the same rights as those.
Who is concerned: Enterprises/Organizations of the Government and the Semi-Public Sector, private businesses and non-profit organizations.
Eligibility criteria for enterprises/organizations:
– They operate in areas which are under the jurisdiction of the Republic of Cyprus and are registered in the records of the Social Insurances, as employers or self-employed.
– They acquire an appropriate mentor who will provide guidance and oversight of the unemployed.
– They do not employ illegal and/or unregistered workers.
– The enterprise/organization must provide employemnt to the indicidual for at least 25 hours per week.
– They have not made any reductions in the number of employees in the positions which are intented to be occupied by the unemployed, after the 3rdof April 2014. It is noted that exceptions apply in the cases of voluntary retirement, retirement due to age restrictions and dismissals over misconducts.
– The vacant positions much be such that require a degree or any other academic qualification.
– In these positions individuals will not be allowed if they are the main shareholders, owners or directors of the enterprises/organizations, their spouses, or any other relatives by blood or marriage with a first or second degree relation.
– The offices or other premises from which business activities are conducted are not based within the residence.
– No administrative sanctions are applied by the HDA, which might affect participation in the Scheme.
Amount of Funding: €125 per week & contribution to the Social Insurance Fund and the Social Cohesion Fund, according to the provisions of the relevant legislation, for a period of 6 months.
Applications period: 25/05/2015 – 31/07/2015