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Find out what’s new in the world of investment
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.
Eligible sectors of economic activity are:
Eligible expenditure within regional aid:
Salary costs (independent expenditure)
Eligible expenditure outside the scope of Regional Aid
Financing scheme for investment projects
Each entity contributes to the cost of the investment project either with its own funds or with external financing (or a combination of both).
Loan pre-approval must be submitted electronically through the Information System for Development Law no later than 45 days after the application deadline.
Types of aid
Regional aid rates and levels
For micro and small enterprises, the aid rates for all types of incentives other than grants are granted at the maximum rate of the Regional Aid Map. The grant incentive is granted at eighty per cent (80%) of the ceiling of the Regional Aid Map, unless the investment site is included in the List of Special Areas published by the Ministry (100%) or the investment property is listed (90%).
For medium-sized and large enterprises, the aid rates for all types of incentives, except the grant, are granted at eighty percent (80% ) of the regional aid map ceiling. The grant incentive is granted only to medium-sized enterprises and only in the Regional Units of Eastern Macedonia and Thrace.
Maximum amounts of aid to be granted
The total amount of aid per investment project submitted may not exceed €3,000,000 for all types of aid.
For medium and large enterprises, the amount of aid cannot exceed €5,000,000 for tax exemption aid.
The possibility of combining the aids is provided for.
The aid granted to each body, including aid to cooperating or associated enterprises, may not exceed a cumulative total of €20,000,000 for an individual enterprise and €30,000,000 for all the cooperating enterprises in proportion to their participation or associated enterprises.
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