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Repossession Property Yield Properties

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  • 28 May 2020 Coronavirus Anastasiades outlines millions to be pumped into the economy updated

    Fortunately, the government is proceeding with helpful measures in order for... read more

  • 26 May 2020 The elite are snapping up pandemic passports so they can escape to safer countries

    Millionaires are looking to escape to a safe country with good medical... read more

  • 14 May 2020 CASINO RESORT Construction work resumes

    Construction work on the City of Dreams Mediterranean casino will resume on... read more

  • 11 May 2020 KEVE All the details of the business and employee support measures

    To deal with the effects of the crisis on the coronaire after their approval... read more

  • 13 March 2020 THE RECONSTRUCTION PLAN OF THE LARNACA MARINA

    The Larnaca Port & Marina Master Plan will become a great resource for the... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 28 May 2020 Coronavirus Anastasiades outlines millions to be pumped into the economy updated

    Fortunately, the government is proceeding with helpful measures in order for... read more

  • 26 May 2020 The elite are snapping up pandemic passports so they can escape to safer countries

    Millionaires are looking to escape to a safe country with good medical... read more

  • 14 May 2020 CASINO RESORT Construction work resumes

    Construction work on the City of Dreams Mediterranean casino will resume on... read more

  • 11 May 2020 KEVE All the details of the business and employee support measures

    To deal with the effects of the crisis on the coronaire after their approval... read more

  • 13 March 2020 THE RECONSTRUCTION PLAN OF THE LARNACA MARINA

    The Larnaca Port & Marina Master Plan will become a great resource for the... read more

KEVE All the details of the business and employee support measures

To deal with the effects of the crisis on the coronaire after their approval by Parliament

   

In a written statement, KEVE lists all the details of the plans for the support of businesses and employees to deal with the effects of the crisis on the coroner after their approval by Parliament.

To access the online application for a bank account where you can be paid any special benefits, click on the following link https://www.pay.sid.mlsi.gov.cy/CovidForms/FormEea006Servlet .

The announcement is as follows:

A. BUSINESS & WORKSHOP SUPPORT DESIGNS

1. Special Plan for Complete Suspension of Works

Businesses that are subject to the compulsory economic activities on the basis of Decisions of the Council of Ministers and relevant Decrees of the Ministry of Health, have the opportunity to receive a special unemployment benefit of up to 90% of their employers.

The special unemployment benefit will amount to 60% and with a maximum allowance. 10% of the company's staff cannot be included in the Plan including Managers / Shareholders.

If the company employs only up to 9 employees, then the condition mentioned in the above paragraph for the Shareholders will be met, but instead of the 90% condition, the special unemployment benefit will be granted to all other employees with terms and conditions to be published. in the Official Gazette of the Republic.

Businesses that are subject to the financial activities that are required to suspend work on the basis of Decisions of the Council of Ministers and relevant Orders of the Ministry of Health, have the possibility to submit an electronic application on the website www.coronavirus.mlsi.gov.cy.

2. Special Partial Suspension Plan

Businesses that have not necessarily terminated their activities on the basis of Decisions of the Council of Ministers and the relevant decrees of the Ministry of Health, but have reduced their turnover beyond the 25% consequence of the pandemic, have the opportunity to participate in the Plan.

The special unemployment benefit that will be equal to 60% and with a maximum will be granted to up to 75% of the company's employers if the company employs up to 50 employees, and to 60% of the employers, for companies that employ more than 50 employees on terms and conditions to be published in the Official Gazette of the Republic.

The total number of beneficiaries for the Full and Partial Suspension Plans is estimated at approximately 220,000 private sector employees for the period from 16 March 2020 to 12 April 2020.

3. Independent Employee Plan

About 36,000 self-employed people will be able to take advantage of the Special Work Suspension Plan drawn up for the period from March 16, 2020 to April 12, 2020 and concerns the payment of a special unemployment benefit equal to 60% as a ceiling, subject to conditions will be published in the Official Gazette of the Republic and in cases of a group of employees it may exceed 60%.

Independent employees, who are active in areas that have not been affected by the current situation, are excluded.

4. Issuance of "Special Permit" to Parents

Parents working in the private and public (and wider public) sector, for the Care of Children up to 15 years of age (up to the third grade of High School), due to suspension of schooling, public and private, in nurseries and nurseries.

The leave may last up to four weeks and is granted to parents working in the private and public sectors, for the care of children up to 15 years of age (up to the third grade of High School), due to suspension of schooling, public and private , in nurseries and nurseries with terms and conditions that will be published in the Official Gazette. 

B. OTHER SUPPORT MEASURES

1. Special Sickness allowance

Beneficiaries of the allowance are:

i. Employees who have particular health problems and are included in the Catalog published by the Ministry of Health, who must be absent from work for protection and non-deterioration of their health. Prerequisite is the presentation of a certificate by their personal physician.

ii. Cases of compulsory absence from work in persons with instructions or instructions of the Authorities (Category 1 [mandatory restriction under medical supervision (quarantine)] and Category 2 [self-restraint]), provided that the restricted workers hold a certificate issued by the Ministry of Health.

iii. Persons over the age of 63 until the age of 65, who do not receive an institutionalized pension and continue to work and who fall into either Categories 1 and 2 of the Ministry of Health provided that they hold a certificate issued by the Ministry of Health, or High-risk groups listed in the Ministry of Health Catalog and must be absent from work for protection and non-deterioration of their health, provided they have a certificate from the Personnel Their doctor.

iv. The above measure also applies to self-employed persons. It is pointed out that for the purposes of their support, the Special Permit allowance will be paid as in the case of employees, from the fourth day. The allowance will be paid in terms and conditions that will be published in the Official Gazette of the Republic.

Applications for the special sickness benefit can be submitted electronically at www.coronavirus.mlsi.gov.cy

2. Modification of the Regulation of Overdue Social Contributions of the Law

For debtors who are eligible to repay overdue social contributions in installments, the installment payment for the months of March and April is suspended and the repayment period is extended by two months.

3. Extension of the time period for submitting objections to social insurance for the self-employed for one month until April 30, 2020 (expires March 31, 2020).

4. The reduced contributions to the GESS will be valid from April 1 to June 30, 2020. For the month of March, the increased contributions will be paid. It is noted that the schedule for the implementation of the 2nd Phase of GESY is not affected. In case of increased needs for the implementation of the 2nd Phase of GESY, they will be covered by the state.

C. SUPPORT OF ENTERPRISES, ENTERPRISE OF RESISTANCE AND UNITY OF INTERNAL CONSUMPTION

1. Temporary suspension for three months of the obligation to pay VAT for tax periods ending in February, March and April, 2020. No additional tax or interest will be imposed on economic activities affected by the measures, meaning that companies will submit their tax returns on time. The amounts due will be able to be paid gradually, until November 10, 2020.

The above reservation does not apply to taxable persons with economic activity codes belonging to the following categories: 35111 (Electricity producers), 36001 (Collection and distribution of water (for water supply), 47111 (grocery stores and supermarkets mainly food (12), 471 kiosks-mini markets), 47191 (Retail trade of a variety of goods in department stores where food, beverages and tobacco do not predominate), 47211 (Retail trade of fruits and vegetables-fruit shops), 472 of them including meat products (Retail trade of meat and meat trade) poultry), 47231 (Retail sale of fish and seafood-fish, molluscs), 47241 (Retail sale of bread and other bakery items), 47242 (Retail sale of confectionery), 47301 Lotion (47 Retail, fuel sales)

Temporary suspension until 31/05/2020 (from 31/03/2020), of the submission of the tax return of income for companies, income of self-employed people with accounts or liable for submission of declaration.

2. Facilities for companies for their obligations to the Department of Companies and Official Recipient

- Suspension until January 2021 of the publication process in the Official Gazette for a three-month notice before the cancellation of non-compliant companies
- Extension of the obligation to pay the fee of € 350 to 31/12/2020, without imposing the additional charge of 10% and 30%.

- The Annual Report with a retirement date from 01/01/2020 until 31/12/2020 may be submitted to the Department until 28/01/2021, without imposing the fee of € 20 for late registration.
- Extension of the imposition of a monetary charge for late submission of institutionalized forms to the TEEP until the beginning of 2021

3. Extension of the duration of the execution of the object of public and private sector contracts, for a period depending on the case, without activating any delay clauses and without confiscating / liquidating part or all of the lodged guarantees of loyal execution of contracts.

4. Support for the recovery of Tourism. Additional credits € 11 million for the implementation of actions to support the tourist flow to Cyprus.

D. OTHER MEASURES

1. Student
Residue Allowance An allowance of € 750 is provided to cover the expenses of students studying at university institutions abroad who will not return to Cyprus during the Easter holidays.

2. Introduction Ceiling in the prices of personal hygiene products (masks, antiseptics, antibacterial liquids, soaps, etc.) to deal with obscene phenomena.

3. Temporary suspension of the sale process by KEDIPES for a period of 3 months.

4. Extension for 3 months of the obligation to submit the necessary supporting documents by interested parties who have already submitted an application for inclusion in the "Home Plan".

5. Suspension of extradition for a period of 3 months until 31 May 2020. Any proceedings for the recovery of possession, which began after 1 March, at any stage and if any, are suspended until 31 May 2020 and no decision or decree of occupation will be obtained. issued by the Court until 31 May 2020. The regulation does not provide for the suspension of payment of rent, which may be voluntarily agreed between the tenant and the owner.

For details of the special plans as well as applications you can visit the special website of the Ministry of Labor, Welfare and Social Insurance at www.coronavirus.mlsi.gov.cym as well as the website of KEVE https://ccci.org.cy/covid- 19 /

You can also Visit : Cyprus' information and guidelines centre for the latest regulations.