75% aid for investments under the Greek Investment Law for the year 2023 – 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:
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
Food & Beverage (submission of applications until 29/12/2023)
Production of dairy products
Production of cereal flours and vegetable flours
Production of olive oil, kernel oil, cottonseed oil, palm oil, soybean oil
Production of fruit and vegetable juices
Production of meat preparations and preserves
Production of meat and poultry products
Processing and preservation of fruits and vegetables
Processing and preservation of meat of all kinds
Production of bakery doughs
Production of medicines and other pharmaceutical products
Production of medical cannabis products
Wine production from fresh grapes
Production of soft drinks
Production of carbonated or non-soft drinks
Bottling of natural mineral waters
Production of cookies
Production of pretzels and pies
Production of baby food
Production of food for diabetics
Tourism (Hotels – camping – condo hotels) (submission of applications until 29/12/2023)
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 that 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
Warehouse – Distribution(submission of applications until 29/12/2023)
Transportation services – supply chain management to third parties (logistics)
Primary sector – Agriculture (new round for submission of applications is expected soon)
a. Plant production sector
Eligible are investments in all types of crop production systems such as: conventional, certified–integrated, organic, outdoors, under cover (greenhouses, greenhouse-type mushroom growing chambers, net gardens, etc.).
b. Animal production sector:
Eligible are investments for the establishment or the expansion of livestock production facilities such as:
Goat, pig, and sheep farming units
Beekeeping units, production of honey, beeswax and other beehive products
Studios for the production of movies, television programs & sound recordings
Sports – Health
Outdoor fields and courts (football 4X4 or 5X5, basketball, tennis courts, etc.) for at least six (6) fields
Swimming pools over 25 meters, exclusively for sports purposes
Creation of recovery and rehabilitation centers, as defined by article 10 of Law 2072/1992 (A’ 125) with a minimum budget amount of more than one (1) million euros
Investments for the provision of Supported Living Housing for Persons with Disabilities, by article 30 of Law 2072/1992 (A’ 125) with a minimum budget amount of more than one (1) million euros
Provision of nursing home services with a minimum budget amount of over one (1) million euros
Waste treatment and disposal
Treatment and disposal of non-hazardous waste
Non-hazardous waste treatment services for final disposal
Waste composting services
Waste composting services
Dismantling of old items
Dismantling services of obsolete items
Breakdown (cannibalization) of used cars and other heavy metal waste
Mechanical cutting or crushing of metal waste (e.g. cars)
Crushing, cleaning and sorting of other waste (e.g. from demolitions)
Selected materials recovery services
Processing of scrap metal and scrap metal to turn them into secondary raw materials
Mechanical or chemical treatment of metal waste
Raw materials recovery services
Retrieve selected material
Recovery of chemicals from chemical waste
Sanitation activities and other services for waste management
Professional washing machines & ironing facilities
Mechanical Laundry and Ironing Services whose activity concerns, in a percentage of more than 60%, services in hospitals, hotels, nursing homes, etc. and the minimum budget amount exceeds one (1) million euros
Publication of books, magazines and other publishing activities
Publication of printed books of professional, technical and academic content
Publication of printed newspapers
Production of online newspapers & magazines
Extraction of marble, granite, sandstone and other stones, for monuments or buildings
Desalination of sea water, when carried out in island areas
Maximum aid intensity: up to 75% of the eligible budget.
Maximum amount of aid: up to €5 mil.
* The fields with * are required.
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 €
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.