New subsidy for new tourism accommodation facilities – Aid intensity up to 60%

A new subsidy for new tourism accommodation facilities with the title “Strengthening the establishment and operation of new tourism businesses” is active. 

The program concerns the strengthening of tourism entrepreneurship for small and medium-sized enterprises that will be active or are active in the tourism sector, in eligible activities (KAD). 

Sumbissions of applications until 29.02.2024. 

Eligible investment budget: from 80.000 € up to 400.000 €. 

Subsidy aid intensity 

Minimum aid intensity: 45%.  The aid can be increased as bellow: 

(a) by 10%, if the investment is made in a remote or fire-stricken or flood-stricken area or small islands  

or/and  

(b) by 5%, by hiring 1 full-time employee for approximately 2.5 months (0.2 EME), in the first year after completion of the investment. 

Eligible activities of tourism enterprises (indicative) 

       1.MAIN HOTEL ACCOMMODATION FACILITIES  

Hotels  

• Classification in category 4**** (four stars) and above   
• Capacity: Twelve (12) beds or more  

Hotel tourist accommodation within traditional buildings was provided for in the presidential decree 33/1979.  

Organized tourist campsites  

• Classification in category 3*** (three stars) and above  

      2. NON-MAIN HOTEL ACCOMMODATION FACILITIES 

Self-catering accommodation – tourist furnished houses  

• Minimum number of residences: Three (3)  

Please note: All self-catering accommodation – tourist furnished residences must be incorporated in the same MHTE Label.  

Furnished rooms or apartments to let   

• Classification in category of 4 keys and above  
• Minimum capacity: Twelve (12) beds   

       3. OTHER SERVICES 

• Chauffeurless passenger car rental services – Rent a car  
• Facilities services for recreational vehicles (caravans) & trailers  
• Booking services for buses  
• Tourism promotion services  
• Tourist guide services  
• Ski sports equipment rental services (ice skates, boots, etc.)  
• Commission sales services of passenger air tickets  
• Tourist ticket sales services in general, with commission 
• Brokerage services for package tours with accommodation  
• Tour organization services (travel agency) for organized tourism from abroad

Information about the tourism facilities in Greece

In general, there are two types of accommodation in Greece, Hotel facilities and the non-Hotel facilities.

Basic Types of Hotel facilities, in Greece 

• Hotels registered in the star category system
• Condo Hotels
•  Complex tourist accommodation facilities

Basic Types Tourist Accommodationion, concerning non HotFacilitiesies, in Greece 

Furnished Rooms for Rent and Furnished Apartments for Rent are classified into 4 main categories: 

• The Furnished Rooms for Rent have small dimensions, the bedroom area is one and they do not provide a kitchen for cooking but only a fridge and optionally a kettle, toaster.   
• The Furnished Apartments for Rent are larger in dimensions than the rooms, they start from single rooms and reach two rooms, three rooms, etc. They have a normal kitchen with cooking and dining utensils in an amount proportional to the number of their beds, a fridge with a freezer and can optionally have a toaster, a kettle, a coffee maker and a microwave oven.  
• As tourist-furnished residences (Self-catering accommodation – tourist furnished residences), single-family houses, with a surface area of at least 40 sq.m., are defined as individual or in a complex building. Each one has independent operation and independent external access. They are equipped with a full kitchen. In several cases, they also include a private pool.  

What are the “key” or “star” categories? 

All tourist accommodation units are classified into key or star categories. Each subsidized program defines the minimum category of keys or stars for an investment tourism project to be eligible. 

Each category corresponds to a set of specific technical and functional specifications that give specific points to each tourist accommodation and hotel. 

Hotels are classified with the “star” system, from one (1) to five (5) stars, while Furnished Rooms, apartments and villas for Rent are classified with the “key” system, from one (1) to five (5) keys. 

Aid intensity  

Eligible companies can receive, for each investment plan, aid intensity of up to 60% and up to € 200.000. 

Frequent questions & answers

1. Are tourist accommodation businesses subsidized throughout Greece or only in specific areas?

The subsidy concerns investments in all regions of Greece. 

2. Can a foreign investor receive the subsidy?

The subsidy concerns Greek or foreign citizens that will establish a Greek company (a company with Greek Tax Identification Number)

3.What are the most necessary steps for the preparation of the application?

1.Selection of the land plot for the investment 

2.Technical drawings of the building(s) 

3.Total budget of the investment including expenses such as: 

• • • Construction works (excavation, concrete, masonry, plastering, tiles, marble, plasterboard, plumbing, electrical, painting, doors, aluminum, landscaping and fencing, etc.) 
    • Furniture (wardrobes, beds, mattresses, bedside tables, etc.) 
    • Hotel equipment (TVs, air conditioners, kitchens, lighting, etc.) Energy-savingg equipment (solar, photovoltaic, heat pumps, inverter air conditioners, LED lamps, etc.)

• • • Website development, internet advertising 
    • Booking software, commercial software and IT applications 
    • Means of transport (commercial use) 
    • Swimming pools

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