VK PREMIUM participated in the international exhibition Athens Cannabis Expo 2020
23 December 2019
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 – new cycle for 2020

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.

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. 

UPDATE: The new round for submissions is open until 31/07/2020 under the Greek Development Law 4399/2016, with aid rates of up to 55%.

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

The new round of submissions of the Greek Development Law 4399/2016 concerns two regimes:

The “General Entrepreneurship” regime with total budget of 150 million euros, which includes tax exemptions or subsidies, and the “Entrepreneurship for Very Small and Small Enterprises” regime with a budget of 350 million euros.

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 €5 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
  • Read more here