The objective of the scheme is to upgrade the services provided, improve the aesthetic appearance of Recreational Centers/Establishments, strengthen Cypriot hospitality, develop gastronomy and culinary tourism, as well as enhance the modern and effective operation of Recreational Centers/Establishments.
The scheme targets entrepreneurs who operate Restaurants, Tavernas and Traditional Food Product Sales Establishments located in mountainous, frontier, and remote areas, as well as rural areas and other geographic regions not covered by the aforementioned.
The specific objectives are:
- To improve and upgrade the quality of services provided by Licensed Recreational Centers in the Restaurant/Tavern category, including those that are part of or wish to join Gastronomy Agreements such as “Taste of Cyprus”.
- To upgrade existing stores selling traditional food products.
The grant percentage will be 75% for mountainous, frontier, and remote areas, 65% for rural areas, and 50% for other geographic areas, of the total eligible budget, with a maximum funding limit of €200,000 under the De Minimis category.
The minimum investment amount is set at €10,000 for Licensed Recreational Centers in the Restaurant or Tavern category, and €4,000 for stores selling traditional food products. The applicant must demonstrate the ability to cover the entirety of their Own Contribution, which is the amount that represents the difference between the Total Eligible Investment and the Public Grant for eligible investments/expenses equal to or greater than €30,000.
|2.||Renovation, improvement, and energy upgrade of buildings|
|3.||Upgrading and replacement of equipment|
|4.||Consumables, up to a maximum of €100 per table (for Recreational Centers)|
|5.||Fees for Consultants and Experts – includes the preparation of the Application and studies for the Business Plan|
|6.||Posters and signs|
|1.||Purchase and installation of used equipment|
|2.||Interventions in non-approved areas under the construction permit|
|3.||Construction work for the erection and/or extension of the building|
|4.||Operational expenses, operating costs, and consumables|
|6.||Purchase or rental of artifacts, paintings, or other valuable objects|
|7.||Value Added Tax (VAT)|
|8.||Installation or upgrade of POS systems for take-away and delivery services|
|9.||Expenses incurred before the On-Site Inspection|
The Scheme falls under the De Minimis category.
Submission period: until 08/01/2024 or until the exhaustion of the available budget.
To view the infographic (available in Greek language), click here.