How to make an application to the Economic Recovery Support Commission (CARE)
9, Rue du Gabian (1er étage)
MC 98000 MONACO
Cellule Covid19 - Entreprises :
(+377) 98 98 98 99
Opening Hours : from 9.00am to 5.00pm from Monday to Friday
Principle and conditions
Through the Economic Recovery Support Commission (CARE), the Government is providing practical, customised support. In this way, it aims to offer support over the long term to businesses which contribute to the country's wealth in terms of employment, tax revenue and reputation.
Thus, companies that have benefited from aid from CARE this summer, may be eligible for renewal of this aid for the last quarter of 2020, subject to the fulfilment of certain criteria. The beneficiaries concerned have been sent an explanatory email to this effect from the Covid19 Businesses Unit.
Furthermore, the Government is aware of the social and economic difficulties that businesses have to face over the long term, and has asked CARE to additionally review new situations, based on the submission of figures and evidence.
On condition that they are duly registered in the Principality’s Trade and Industry Registry or hold a ministerial authorisation and that their current accounts were in credit as of 31 December 2019, companies or businesses making an application must meet all of the following conditions:
- Have seen their business be completely or substantially interrupted due to the COVID-19 pandemic
- Be able to demonstrate that their business has suffered a severe and lasting impact as a result of the consequences of the COVID-19 crisis, despite the lifting of the lockdown
- Have had a turnover of strictly no more than €5 million in 2019 (excluding taxes, including tax refunds)
- Have experienced at least a 50% decline in turnover before tax, compared with the same period last year, noting that the period concerned now focuses on September and October 2020
- Be able to present evidence on the basis of the documents and information required as part of the application procedure. The Government reserves the right to request additional supporting documents to enable it to fully analyse the application
The following are not eligible to apply to CARE: Associations and Federations, Non-trading companies, Companies involved in court-ordered insolvency procedures and/or in difficulty prior to the COVID-19 crisis, property developers, single and multi-family offices, CSPs, banks and portfolio management companies, insurance firms and companies partially owned by one or more legal entities.
New, completed applications for assistance will be submitted to CARE for review during November 2020.
The application must be completed electronically (no handwritten information will be accepted), and must include all required documents and information.
Collating the documents
1. Download and complete electronically the form Formulaire de demande d’intervention CARE including:
- Information on the representative authorised to submit the application
- Information on the company or business experiencing difficulties that is the subject of the application
- A detailed presentation of the current economic difficulties linked to the COVID-19 crisis and an explanation of why an application was not made to CARE this summer
- A summary of financial indicators
- A summary statement of outstanding fixed costs to be paid by the company or business for the months of October, November and December 2020
2. Download and complete electronically the Attestation sur l'honneur CARE
3. Full and recent bank account details (RIB) of the company or business making the application
4. The last justification of rent paid
5. The VAT declaration for the month of June to September 2019
6. The VAT declaration for the month of June to September 2020
Sending off the documents
Completed applications must be sent by the applicant’s legal representative to the COVID-19 Businesses Unit of Welcome Office before the 16 November 2020, by email only, to the following address: firstname.lastname@example.org
The Welcome Office team will acknowledge receipt of the full application by email to the email address provided in the application, and will inform the applicant of the results of their application following the review by CARE.
If any changes are required, the application will need to be fully updated and resubmitted using the same procedure.
Applications that are incomplete or do not comply with the requirements cannot be considered.