Greek Government approved the biotechnology investment plan from the joint venture of Orgenesis & Theracell under the Strategic Investments framework
Greece approved the € 83 million biotechnology investment plan from the joint venture of Orgenesis & Theracell
3 April 2022
75% aid for investments under the Greek Investment Law for the year 2022 – Sectors which are granted
6 April 2022

Greek Investment Law offers aid intensity up to 70% of the eligible budjet

Νew Investment Law

Considerable tax exemptions & grants by the Greek state could receive enterprises utilizing the Investment Incentives Law, for investments to establish or further modernize their business facilities in Greece.

The new Incentive Law focuses on promoting the digital and technological transformation of businesses, the green transition, the creation of economies of scale, the support of innovative investments and the improvement of competitiveness in vital sectors of the Greek economy. 

Type of aid

  • Tax exemptions
  • Cash grants
  • Leasing subsidies
  • Subsidy of the cost of new employment
  • Business risk financing

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.

The maximum aid intensity reaches up to 70% of the eligible budget.

Maximum amount of eligible investment: € 10.000.000



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Aid percentages per Greek Region

Investment law

 

 

Investment law

 

 

 

Indicative sectors that can be included in the aid schemes of Greek Investment Law

Tourism

  • Establishment or expansion of 4*hotels and above
  • Modernization of 3* hotels and above
  • Establishment or expansion or modernization of 3* camping and above
  • Glamping– Luxury Camping Outdoor Accommodation facilities
  • Agritourism or wine tourism facilities
  • Geotourism facilities
  • Multifunctional farms
  • Condo hotels
  • Tourism facilities (conference centers, thalassotherapy centers, rejuvenation centers, thermal spa)
  • Amusement parks
  • Golf Courses
  • Ski resorts
  • Sports tourism centers
  • Tourist ports (marina)
  • Recovery and rehabilitation centers

Manufacturing

  • Food and beverage manufacturing
  • Electrical equipment manufacturing
  • Textiles and Clothing manufacturing
  • Furniture manufacturing
  • Vehicle manufacturing
  • Metal products, machinery and equipment manufacturing
  • Paints and coatings industry
  • Rubber products and plastics manufacturing
  • Chemicals manufacturing
  • Pharmaceuticals, cosmeceuticals & personal care
  • Paper making and paper products manufacturing

Sports – Health

  • Football and basketball Fields (4 × 4, 5 × 5 etc.), tennis courts, etc.
  • Swimming pools
  • Recovery and rehabilitation centers

Media

  • Creation of permanent studios for the production of movies, videos, television programs and recordings

Warehouse – Distribution

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

Pharma

  • Production of basic pharmaceutical products and pharmaceutical preparations
  • Processing units for finished medical cannabis products

Primary sector

  • All types of cultivation and systems of crop production
  • Livestock facilities, livestock, pig, sheep and poultry farms
  • Fishing kai aquaculture

Energy

  • Hydroelectric power stations up to 15 MW
  • Production of heat and cooling from renewable energy sources
  • Sustainable fuels production


Eligible investment projects

The State subsidies relate to investment projects falling within one of the following 13 categories:

1)    Digital and technological transformation of enterprises
2)    Green transition Environmental upgrading of enterprises
3)    New Business
4)    Fair Development Regime
5)    Research and applied innovation
6)    Agri-sustenance primary production and processing of agricultural products, fisheries and aquaculture
7)    Manufacturing Supply Chain
8)    Business Extroversion
9)    Boosting Tourism Investments
10)  Alternative Tourism
11)  Large Investments
12)  European Value Chains
13)  Entrepreneurship 360o


Eligible expenses
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.
  • Wage cost of new jobs created as a result of the implementation of the investment project (it is calculated for 2 years from each hiring and it is an eligible expense only independently and not combined with the above cases)


VK PREMIUM Business Growth Consultants has many years of experience and specialization in submitting applications for grants and subsidies, with almost 100% success in the respective approvals.

For further information please contact us at: info@vkpremium.com or call us: + 30 210 6835560


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