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75% aid for investments under the Greek Investment Law for the year 2022 – Sectors which are granted

Considerable tax exemptions & grants by the Greek state could receive enterprises utilizing the Investment Incentives Law, for Capital investments to establish or further modernize their business facilities in Greece.

Type of aid:

  • Grant
  • Subsidy
  • Tax exemption
  • Wage Subsidy
  • Leasing Subsidy

The maximum aid intensity is up to 75% of the eligible budget*.

*The maximum aid intensity depends on the geographical area where the investment will be applied.


* The fields with * are required.

Indicative sectors that can be included in the aid schemes of Greek Investment Law

Manufacturing (submission of applications until 31/10/2022)

  • Production of fruit and vegetable juices
  • Production of bakery products and flour products
  • Production of spaghetti, lasagna, couscous and similar flour products
  • Distillery – Brewery 
  • Electrical equipment manufacturing
  • Textiles and Clothing manufacturing
  • Furniture manufacturing
  • Vehicle manufacturing
  • Metal products, machinery and equipment manufacturing
  • Paints and coatings industry
  • Rubber products and plastics manufacturing
  • Chemicals manufacturing
  • Pharmaceuticals, cosmeceuticals & personal care
  • Medical cannabis vertical facilities

Warehouse – Distribution (submission of applications until 31/10/2022)

  • Transportation services – supply chain management to third parties (logistics)

Tourism (Hotels – camping – condo hotels) (submission of applications until 5/12/2022)

  • Establishment or expansion of hotels of at least 4*
  • Modernization of hotels that belong to or are being upgraded to a category of at least 3*, under the condition that 5 years have passed since the start of operation of the unit or the date of completion of a previous modernization
  • Establishment, expansion and modernization of camping that belong to or are upgraded to a category of at least 3*
  • Expansion or modernization of hotels that have stopped operating, provided that there has been no change of use of the building and that they are upgraded to at least a 4* category
  • Establishment and modernization of an integrated form of hotel units in traditional or preserved buildings which belong to or are being upgraded to a category of at least 3*
  • Establishment, expansion and modernization of complex tourist accommodation facilities
  • Establishment of joint ownership hotels (condo hotels), provided that the transfer or long-term lease of enhanced buildings takes place after the end of the long-term obligations of the investment entity

Tourism (other investments) (submission date to be announced)

  • Transportation services – supply chain management to third parties (logistics)
  • Tourism facilities (conference centers, thalassotherapy centers, rejuvenation centers, thermal spa)
  • Theme parks
  • Golf Courses
  • Ski resorts
  • Sports tourism centers
  • Tourist ports (marina)
  • Recovery and rehabilitation centers

Sports – Health (submission date to be announced)

  • Football and basketball Fields (4 × 4, 5 × 5 etc.), tennis courts, etc.
  • Swimming pools
  • Recovery and rehabilitation centers

Primary sector (submission date to be announced)

  • All types of cultivation and systems of crop production
  • Livestock facilities, livestock, pig, sheep and poultry farms

Maximum aid intensity: up to 75% of the eligible budget.

Maximum amount of aid: up to €5 mil.


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Eligible Expenses

Expenses which qualify for the incentives provided by the new law for qualifying investments refer to tangible and intangible assets.

The most important provisions are the following:

Construction, expansion and modernization of buildings, of special and auxiliary facilities and the cost of landscaping. 

The purchase and installation of modern machinery and equipment.

New leasing rentals of brand new machinery and other essential equipment. The equipment can also be acquired, if the lease includes an obligation to purchase these at the end of the lease.

Intangible assets, such as spending quality assurance and quality control, certification, supply and installation of low interest ware and system organization of the business spending on technology transfer through the purchase of intellectual property, licensing, patents, know-how or unpatented technical knowledge etc. 

Support of wage costs for new employees.


Minimum investment amount of business plans

  • Very small sized companies: 100.000 €
  • Small sized companies: 250.000 €
  • Medium sized companies: 500.000 €
  • Large sized companies: 1.000.000 €

Aid percentages

The amount of aid provided to each investment project depends on the size of the qualifying enterprise (investment vehicle) and on the prefecture where the investment plan is implemented.


Aid percentages per Greek Region

Investment law

 

 

 

Read more for Subsidies for new personnel, hardware, software & communication systems for companies in Greece

Click Here to Read More about Investment Incentives Law In Greece

The article was updated at 29/07/2022


For further information please contact VK PREMIUM Business Growth Consultants at : info@vkpremium.com or call us : + 30 210 6835560


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