RECRUITMENT OF UNEMPLOYED PEOPLE OVER 50 YEARS OF AGE
Beneficiaries
Beneficiaries are employers who meet the following criteria:
1. They are established and operate in areas controlled by the Republic of Cyprus.
2. They are registered in the Social Insurance Registry as employers and have access to the Government Portal.
3. They have not exceeded the limit of 5 people per Invitation that can be hired through the Scheme.
4. They hire unemployed people over 50 years of age, registered with the Public Employment Service (PES), up to one day before or on the date of hiring.
5. The hirings concern full-time positions and the salary cannot be lower than the national minimum wage (€900 initially and €1,000 after 6 months of continuous work)
*The following cannot participate:
1. Self-employed people for self-subsidization.
2. First or second degree family members of the employer.
3. Individuals who had worked in the same company for the last 8 months prior to hiring.
Eligible Costs
The subsidy covers part of the employees’ salary costs.
Funding
• The grant is given for 10 months of continuous employment, with the obligation to retain the employee for an additional 2 months without a grant.
• Maximum amount per participant: €8,600
Eligibility Criteria
In order for a business to be approved for the Scheme, the following conditions must be met:
For the Employer:
1. Active business that carries out economic activity.
2. Settlement or adjustment of debts to the state (Tax Department, Social Insurance Services).
3. Not be subsidized for the same person or expense by another body.
4. The recruitment must entail a net increase in personnel in the specific profession.
For the Employee:
1. Unemployed over 50 years old, registered with the PES up to and including the previous day of recruitment.
2. The recruitment must be declared on the platform within 31 days from the date of recruitment.
3. Not have worked for the same employer in the last 8 months prior to recruitment.
4. The salary must not be lower than the national minimum wage