VK PREMIUM participated in the international exhibition Athens Cannabis Expo 2020
23 December 2019
VK PREMIUM BUSINESS CONSULTANTS LTD
Pharmaceutical Quality Assurance & Regulatory Affairs Consultant (code: QA-MAR20)
19 March 2020

Grants & Subsidies up to 55% for enterprises under the Greek Investment Incentives Law

Grants & Subsidies for enterprises via the Greek Investment Incentives Law

The Greek Investment Incentive Law is a powerful tool used by the majority of investors to facilitate their business plans.

New round for submissions has started on Dec. 7, 2020.

In simple terms, enterprises that fall under the Investment Incentives Law, and which fulfill the requirements determined by it, can apply to the Ministry of industry & development and receive considerable cash grants, subsidies or tax exemption from the state, so they can start or further develop their business activities in Greece. 

Aid rates of up to 55% under the Greek Development Law 4399/2016.

For more information on the current on the available aids under the Investment Incentives Law, please contact VK PREMIUM on the bellow form:  

    The submissions of the Greek Development Law 4399/2016 concern three regimes:

    With total budget of 525 million euros, the regimes “General Entrepreneurship”, “Entrepreneurship for Very Small and Small Enterprises” and “Mechanical Equipment”, include tax exemptions or subsidies.

    A variety of business sectors can be granted & subsidized up to 55% under the Greek Investment Incentives Law such as pharmaceuticals, tourism, industrial facilities and investments in medical cannabis. 

    Key objectives of the law include the: 

    • Creation of new jobs with an emphasis on the employment of skilled human resources
    • Increase of extroversion and inattentiveness of businesses
    • Improvement of technological level and competitiveness
    • Enhancement of the extrovert country’s image (branding)
    • Re-industrialization of the country

    The  law offers opportunities for businesses in the form of the following fundamental pillars: 

    • The aid granted is up to 55% of the investment project, and the Aid schemes are as follows:
      • Grant, which consists of the free provision of funds to cover part of the investment project
      • Tax Exemption consisting of the exemption from paying income tax on earnings before tax
    • Aid can reach up to €10 million
    • Investors may select whether they receive it as a Grant or Tax Exemption or a combination of them
    • The Aid (Grant or Tax Exemption) is up to 55% of the investment depending on specific criteria such as the size of the company & geographical (e.g. depending on where the investment will take place)
    • The grant is released to the investors gradually upon submission of paid invoices throughout the deployment of the investment