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 1^st to 5^th 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