360° Entrepreneurship
The new Development Law (L.4887/2022) was published , which replaces the current development law (L.4399/2016).
The aim of the Ministry of Development and Investments with the approval of the new Development Law is to strengthen the economic development of our country by providing incentives to specific activities and sectors.
To achieve this goal, the new Development Law 2022 provides for the acceleration and simplification of the evaluation, approval and control procedures of the submitted investment plans, as well as the provision of higher aid rates.
Funding Key Points
Day start/end
- Awaiting Announcement
Content of Investment Plan
- Create a new unit.
- Expansion of the capacity of an existing unit.
- One unit production differentiation.
- Fundamental change of the entire production process of an existing unit.
Beneficiaries
- Commercial company
- Partnership
- Co.S.Ep, AS, OP, AES
- Joint ventures engaged in commercial activity
- Public and municipal enterprises and their subsidiaries subject to conditions.
Budget
- 1,000,000 euros for large companies
- 500,000 euros for medium-sized enterprises
- 250,000 euros for small businesses
- 100,000 euros for very small businesses
- 50,000 euros for Social Cooperative Enterprises (SOEs), as well as Agricultural Cooperatives (A.S.), Urban Cooperatives, Producer Groups (O.P.) and Agricultural Partnerships (A.E. .S.).
Eligible Expenses
Eligible costs within regional aid
Eligible branches of economic activity are:
- Mining ores
- Other mines and quarries
- Seawater desalination services
- Waste treatment and disposal
- Material recovery
- Remediation activities and other services for waste management
- Publishing activities
- Production of motion pictures, videos and television programs, sound recordings and music publications
- Streaming video and audio
- Web Portals
- Non-residential property management services
- Hospital rehabilitation services
- Residential care services for the elderly and disabled
- Library services
- Field services
- Swimming pool services
- Ironing services
- Mechanical laundry services
- Construction, expansion, modernization of building facilities and special and auxiliary building facilities and the shaping of the surrounding area. Cumulatively, they cannot exceed 45% of all eligible costs of a regional nature. The above coefficient is established at eighty percent (80%) for investment projects implemented in buildings, which are classified as preserved. – Purchase of all existing fixed assets, for SMEs, subject to conditions.
- Strengthening the purchase of all or part of the existing fixed assets, such as buildings, machinery and other business installation equipment (subject to conditions).
- Purchase and installation of new modern machinery and other equipment, technical installations and internal transport means.
- Leases for financial leasing of new modern machinery and other equipment.
- Special & mechanical facilities.
- Transfer of technology, purchase of intellectual property rights, licenses, patents, know-how and unproprietary technical knowledge.
- Quality assurance systems, certifications, software supply and installation and business organization systems.
- For Large Enterprises the eligible costs for intangible assets cannot exceed 30% of the total eligible costs and for SMEs 50%.
- The salary cost of the new jobs created as a result of the implementation of the investment plan is calculated for two (2) years from the creation of each position. The above salary cost is an eligible expense only independently and not in combination with para. a' and/or b' and if an initial investment is implemented.
- Expenses for Consulting Services that concern investment plans of new small and medium-sized businesses and cannot be the subject of continuous or periodic activity, nor be linked to the usual operating expenses of the business. A new business is considered a newly established business that has not been closed at the time of submission of the application for inclusion in the administrative use regime.
- Costs for remediation of contaminated sites.
- Costs for waste recycling and reuse.
- Vocational training expenses. Expenditures related to the upgrading of qualifications or the retraining of employees are eligible.
- Expenses for participation of SMEs in trade fairs.
- Expenditure on investment aid to SMEs.
Other Information
Financial scheme of investment projects
Types of Reinforcements
Intensities and Amounts of regional aid
Maximum amounts of aid granted
Financial scheme of investment projects
Each institution participates in the cost of the investment plan either with own funds or with external financing (or with a combination of these).
The pre-approval of the loan should be submitted electronically through P.S.AN. at the latest within 45 days of the application deadline.
The pre-approval of the loan should be submitted electronically through P.S.AN. at the latest within 45 days of the application deadline.
Types of Reinforcements
- Subsidy.
- Lease subsidy.
- Subsidizing the cost of the employment created.
- Tax exemption.
Intensities and Amounts of regional aid
For very small and small businesses , the aid rates for all types of incentives, except for the grant, are granted at the maximum rate of the Regional Aid Charter. The incentive of the grant is granted at eighty percent (80%) of the upper limit of the Regional Aid Map, unless the place of implementation of the investment falls under the Table of Special Areas posted by the Ministry (100%) or the property of the investment is maintainable (90%).
For medium and large enterprises, the percentages of aid for all types of incentives, except for the grant, are granted at eighty percent (80%) of the upper limit of the Regional Aids Charter. The incentive of the grant is granted only to medium-sized enterprises and only to the Regional Units of Eastern Macedonia and Thrace.
For medium and large enterprises, the percentages of aid for all types of incentives, except for the grant, are granted at eighty percent (80%) of the upper limit of the Regional Aids Charter. The incentive of the grant is granted only to medium-sized enterprises and only to the Regional Units of Eastern Macedonia and Thrace.
Maximum amounts of aid granted
The total amount of aid per submitted investment project cannot exceed the amount of €3,000,000 for all types of aid.
For medium and large companies, the amount of support cannot exceed €5,000,000 for the enhancement of the tax exemption.
It is possible to combine the aids.
The aid provided to each body, which also includes the aid to partner or affiliated companies, cannot cumulatively exceed €20,000,000 for an individual company and €30,000,000 for all partners according to their participation percentage or affiliated companies.
For medium and large companies, the amount of support cannot exceed €5,000,000 for the enhancement of the tax exemption.
It is possible to combine the aids.
The aid provided to each body, which also includes the aid to partner or affiliated companies, cannot cumulatively exceed €20,000,000 for an individual company and €30,000,000 for all partners according to their participation percentage or affiliated companies.