Prepare Yourself – Financial Assistance for Job Retention

Micro, Small and Medium Enterprises can apply for the Financial Assistance online, through the website of the Ministry of Finance, Trade, Investment and Economic Planning.

1. What is the aim of the scheme?

President Danny Faure announced on March 20th 2020 that the Seychelles Government would budget funds to help retain jobs in private sector businesses that are suffering significant negative impacts from the COVID-19 pandemic. The Financial Assistance for Job Retention (FA4JR) Committee was thus set up to help businesses pay the salaries of their employees for the months of April, May and June 2020.

2. Who is eligible to receive benefits under this scheme?

The scheme is primarily intended to assist private businesses and non-governmental organisations (NGOs) which already submit a monthly payroll to the Seychelles Revenue Commission (SRC), regardless of how many employees they have.

Applicants must be able to meet all of the following criteria:

– Be able to explain how COVID-19 has caused significant disruption to its business activity
– Prove a reduction in turnover of more than 25%
– Be temporarily unable to pay normal salaries
– Agree that no staff are to be made redundant-

Read more and access the forms on the following website: