There are two types of unemployment funds, for employees and for entrepreneurs. KOKO the fund for employees whereas entrepreneurs can be insured in, for example AYT, The Unemployment Fund for the Entrepreneurs and the Self-Employed.
If you’re an employee and have entrepreneurial activities on the side, the KOKO fund is a good option for you.
As a full-time entrepreneur, you can remain in the KOKO fund for a maximum period of 18 months after starting your own business.
When starting a business, a full-time entrepreneur should however think about joining an entrepreneurs’ unemployment fund to secure uninterrupted income also during possible unemployment.
For the purposes of unemployment protection, an entrepreneur is defined as a person who works without being in an employment relationship. The definition of an entrepreneur in this context is not always similar to that in taxation or in labour law. Just owning an enterprise or being a family member of an entrepreneur does not make you an entrepreneur – you also have to work in that enterprise.