Programmes for employment incentives
Α. Scheme providing incentives for employment of the unemployed
This scheme is about providing incentives for hiring unemployed individuals in the private sector. Financial aid of 60% of the yearly wage cost with maximum amount of €7.200 per person per semester is provided. The subsidy is granted only for the first 6 months of employment.
Aim of this scheme is to alleviate the effects that the financial crisis has induced on the labour market.
Implementation period: from 27/11/2009 until 30/06/2011. Last applications should be received in December 2010.
The Scheme is co-financed by the European Social Fund and the Republic of Cyprus within the framework of the Operational Programme “Employment, Human Capital and Social Cohesion” 2007-2013.
Approved budget: €6.000.000. About 1000 - 1200 unemployed are expected to benefit from this Scheme.
Β. Scheme providing incentives for hiring individuals with disabilities
This Scheme is about providing incentives for hiring individuals with disabilities in the private sector and Local Authorities. Financial aid of 75% of the annual wage cost with a maximum amount of €15.000 per person per year is provided for the first 24 months of employment. Additionally financial aid up to 25% of the eligible costs with a maximum amount of €5.000 per person, for adapting premises, adapting or acquiring equipment, or acquiring and validating software for use by disabled workers, where the beneficiary provides sheltered employment, the costs of constructing, installing or expanding the establishment concerned, and any costs of administration and transport which result directly from the employment of disabled workers.
Aim of this scheme is to encourage employers to hire individuals with disabilities.
Implementation period: from 29/09/2009 until 30/06/2014.
The Scheme is co-financed by the European Social Fund and the Republic of Cyprus within the framework of the Operational Programme “Employment, Human Capital and Social Cohesion” 2007-2013, under Priority Axis 2“ Expansion of the Labour Market and Social Cohesion”.
Approved budget: €1.000.000. About 120 unemployed disabled individuals are expected to benefit from this Scheme.
C. Scheme providing incentives for hiring disadvantaged individuals
This scheme is about provision of incentives for hiring disadvantaged individuals in the private sector and Local Authorities. Financial aid of 65% of the annual wage cost with a maximum amount of €13.000 per person per year is provided for the first 12 months of employment. Additionally an allowance for transportation costs to and from the workplace will be offered to employees.
Aim of the scheme is the full time employment of disadvantaged individuals.
Implementation period: from 19/03/2010 until 30/06/2014.
The Scheme is co-financed by the European Social Fund and the Republic of Cyprus within the framework of the Operational Programme “Employment, Human Capital and Social Cohesion” 2007-2013, under Priority Axis 2 “ Expansion of the Labour Market and Social Cohesion”.
Approved budget: €6.000.000. About 500 unemployed disadvantaged individuals are expected to benefit from this Scheme.
For the purpose of this scheme disadvantaged individuals are considered those who: have not completed the upper secondary education or vocational training (ISCED level 3), aged 15-24, aged 50 and more, live alone and have one or more dependents under their care (single parent families), are members of a national minority of Cyprus who need to develop their language skills, vocational training or professional experience in order improve their chances in having easier access to stable employment, receive public aid, are/were under the care/supervision of the Social Welfare Department’s Director, are members of families with mental problems, are ex-prisoners, are ex-users of drug substances, are people with disabilities and are recognized victims of human trafficking.
D. Emergency Employment Scheme Providing Incentives For The Employment Of Young Unemployed Graduates From Beneficiaries Who Enrolled In The Plans Of The Ministry Of Commerce Industry And Tourism Youth Entrepreneurship / Women Entrepreneurship And Business Innovation.
This scheme provides incentives for hiring registered unemployed graduates over 6 consecutive months at the Public Employment Service, under29 years old (graduates of higher education. Higher education regards a period of study of at least 3 years). The participants in the Scheme may only be the employers who enrolled in the plans of the Ministry of Commerce, Industry and Tourism, Youth Entrepreneurship, Women Entrepreneurship and Business Innovation in the programming period 2007-2013.
The Scheme aims to facilitate work placements for long-term unemployed young graduates in full time jobs. The main purpose is the creation of new job positions, to generate income and stimulate economic activity. The budget allocated for this Scheme is € 3.000.000
Implementation Period: The implementation period of the Scheme starts on the date of approval by the Council of Ministers (23/01/2013) and ends on 30/06/2015.
Financial assistance is provided to employers, at 80% of the wage cost of the employee with a maximum amount of € 15.000 per person .The funding is provided only for the first twelve (12) months of employment on the condition that the employee shall be employed for at least eighteen (18) months.
Application Forms and other Information:
Employers who are interested to participate in the Scheme may download the specific application form from the Department of Labor website at www.mlsi.gov.cy/dl. Further information may also be obtained from the Labour Department and the District or Local Offices of the Public Employment Service (PES). Incomplete applications, i.e. with insufficient supporting documents will not be accepted or processed by the Management Agency.
In case the budget allotted for the specific Scheme is exhausted, the Scheme will be terminated by an announcement in the press and the Management Agency will stop receiving applications. Applications for participation in the Scheme may be submitted within one month from the date of public announcement.
Department of Labour