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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:

  • 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

Film production (submission of applications until 10/04/2023)

  • Studios for the production of movies, television programs & sound recordings

Sports – Health (submission of applications until 10/04/2023)

  • 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, in accordance with 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

Recycling (submission of applications until 10/04/2023)

  • 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
  • Material recovery
  • Retrieve selected material
  • Recovery of chemicals from chemical waste
  • Sanitation activities and other services for waste management

Professional washing machines & ironing facilities (submission of applications until 10/04/2023)

  • 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

Publishing activities (submission of applications until 10/04/2023)

  • 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

Other activities (submission of applications until 10/04/2023)

  • Extraction of marble, granite, sandstone and other stones, for monuments or buildings
  • Desalination of sea water, when carried out in island areas

Food & Beverage (new round for submission of applications is expected in January 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
  • Beer production
  • Production of soft drinks
  • Production of carbonated or non-soft drinks
  • Bottling of natural mineral waters
  • Production of cookies
  • Production of pretzels and pies
  • Spaghetti production
  • Production of baby food
  • Production of food for diabetics

Tourism (Hotels – camping – condo hotels) (new round for submission of applications is expected in January 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 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

Primary sector – Agriculture (new round for submission of applications is expected in January 2023)

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
  • Poultry units
  • Beekeeping units, production of honey, beeswax and other beehive products
  • Snail units 

Warehouse – Distribution (new round for submission of applications is expected in January 2023)

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

Tourism (other investments) (submission of applications until 10/04/2023)

  • 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

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 14/12/2022


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


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