Grant Scheme for Investments in the Enrichment and Upgrading of the Tourism Product for Lengthening the Tourist Season
The Cyprus Tourism Organisation announces the 1st Call for Submission of Applications under the Grant Scheme for Investments in the Enrichment and Upgrading of the Tourism Product for Lengthening the Tourist Season.

The Scheme is co- funded by the European Regional Development Fund and the Republic of Cyprus under the Operational Programme “Competitiveness and Sustainable Development 2014-2020".

With the main objective of improving the competitiveness of the hotel and ancillary tourist product of the country, investments and interventions are encouraged and supported by the Scheme, aiming at mitigating the limitations of tourism development, such as the seasonality of tourist flows and the one-dimensional tourist product.

The Scheme aims at (a) the development of new products and services concerning special interest tourism in the fields of Conferences and Sports training tourism for football and swimming (b) supporting investments of existing hotel and tourist accommodation units for the upgrading, modernization and enrichment of their facilities and services mainly for the servicing of seasonal diversified needs and specialties of the winter tourist (winter sun) but also those with special interests and (c) the modernisation and enrichment of premises and facilities of establishments relating to special interest products and accommodation units. The total budget reaches €16m.

Beneficiaries of the Scheme could be any Large, Medium and Small enterprises that comply to the rules of the Scheme which is comprised of three axes each addressing different eligible investments and with varying aid intensity, as follows:

- Axes A and B are governed by the Commission Regulation (EU) No 651/2014 of 17 June 2017. The aid intensity varies between 10% and 30% of the eligible costs of approved investments and is defined based on the size of the enterprise and the location of the investment. Moreover, a ceiling is fixed for each investment category in these two axes. Axis C is governed by the Commission Regulation (EU) No 1407/2013 of 18 December 2013 and the aid intensity can reach 70% of the eligible costs of approved investments with maximum grant amount €200.000 as per the Regulation.

- Eligible Investments:
   - Axis A: The development of new standalone projects for Conferences and Sports Tourism.
   - Axis B: The modernisation, upgrading and enrichment of the existing hotel and tourist establishments.
   - Axis C: Modernisation, enrichment, renovation of premises of existing establishments.

Applications may be submitted between 08:00 - 15:30, during working days of the Cyprus Tourism Organisation, from 04/08/2017 until 05/02/2018 and must be submitted by hand at the Headquarters of the Cyprus Tourism Organisation on 19, Limassol Avenue, Ground floor, Office no. 19L, Nicosia.

Documents are in Greek and include the Call for Proposals, the Information Guide and its Annexes as well as any supplementary documents issued by the Cyprus Tourism Organisation. They can be reached at www.sxedioxorigion.com and here.

For any further information, please contact the Help Desk for the Scheme: Mrs Elena Pericleous Klerides tel. 22691292 and Mrs Fani Panayidou tel. 22691158. Monday - Friday, 08:30 - 15:00.
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