NEW APPLICATIONS FOR THE CORONAVIRUS BUSINESS ASSISTANCE GRANT

Press Release

 

NEW APPLICATIONS FOR THE CORONAVIRUS BUSINESS ASSISTANCE GRANT

 

The Ministry of Finance Investment and Trade wishes to advise the general public that during the period 1st to 5th October 2020 the Ministry will be accepting new applications for the Coronavirus Business Assistance Grant. Persons who previously submitted applications need not apply.

 

To be considered for the cash grant a small business must submit a completed Coronavirus Business Assistance Grant Application Form along with the following supporting documents:

  • a copy of its business license for 2019/2020;
  • copy of last national insurance contribution paid to February 2020, to show proof of number of employees;
  • banking details; and
  • any other documents as required.

 

Self-employed persons must submit a completed Coronavirus Business Assistance Grant Application Form and the following supporting documents to be considered for the cash grant:

  • two forms of Government issued ID;
  • a copy of its business license for 2019/2020;
  • If under the age of 60 years, a copy of last national insurance contribution paid to February 2020, to show proof of employment as a self-employed person;
  • banking details; and
  • any other documents as required.

 

The cash grant is available to micro, small and medium enterprises that are:

  • not wholly or majority owned or subsidiaries of a larger company;
  • majority owned by Turks and Caicos Islanders;
  • registered with the National Insurance Board as at 31 March 2020;
  • registered under the Business Licensing Ordinance;
  • located in the Turks and Caicos Islands;
  • operating an existing business; AND
  • not recipients of any other financial assistance available under the Coronavirus (Covid-19) stimulus package.

 

A small business that is not registered with the National Insurance Board as at 31 March 2020 shall, upon confirmation of such registration, be eligible for a cash grant of $1,000.

 

A micro enterprise that is owned and operated by a sole proprietor, on whose behalf national insurance contributions are being paid, may be eligible for a cash grant of $2,000.

 

The cash grant may be accessible by self-employed persons that are:

  • citizens of the Turks and Caicos Islands;
  • legally resident in the Turks and Caicos Islands;
  • if under the age of 60, registered with the National Insurance Board as at 31 March 2020;
  • located in the Turks and Caicos Islands;
  • registered under the Business Licensing Ordinance; AND
  • not recipients of any other financial assistance available under the Coronavirus (Covid-19) stimulus package.

 

A self-employed person under the age of 60 that is not registered with the National Insurance Board as at 31 March 2020 shall, upon confirmation of such registration, be eligible for a cash grant of $1,000.

 

To submit an online application form please visit the website of the Department of Trade, Industry and Consumer Affairs at: www.gov.tc/trade/stimulus.

 

ENDS

 

 

Turks & Caicos Government

Office of the Governor

Office of the Deputy Governor

Contact

COVID-19 UPDATE