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Up to 55% aid for investments under the Greek Investment Law – 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

Maximum aid intensity: up to 55% of the eligible budget.

Maximum amount of aid: up to €10mil.

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

Tourism

  • Establishment or expansion of hotels of at least 3*
  • Establishment, expansion and modernization of camping of at least 3*
  • Establishment and modernization of traditional buildings which belong to or are upgraded to a category of at least 2*
  • Tourism facilities (conference centers, thalassotherapy centers, rejuvenation centers – spa

Sports – Health

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

Food & Beverage

  • Production of fruit and vegetable juices
  • Production of bakery products and flour products
  • Production of spaghetti, lasagna, couscous and similar flour products
  • Distillery – Brewery – Wine Production
  • Facilities for the production of meat & ham products, cold cuts, animal by-products management facilities, slaughterhouses, shredders
  • Milk utilization and dairy production facilities
  • Olive mills, olive oil refineries, seed mills, edible oil processing plants
  • Production of flour, drying of cereals, processing for production of malt, starch, gluten
  • Processing of new – alternative – innovative crops (sea buckthorn, aronia, goji berry, aloe, etc.).
  • Flowers (standardization and marketing of flowers).

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

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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 as well as to Research and Development projects and programs.

The most important provisions are the following:

Construction, expansion and modernization of buildings, of special and auxiliary facilities and the cost of landscaping. These costs may not exceed 40% of the subsidized cost of the investment project.

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. Intangible assets must be depreciable assets used exclusively in the assisted investment to remain at the premises for at least five years and the cost does not exceed 50% of the subsidized cost of the project.


Subsidy Levels

The amount of subsidy 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. In any case the subsidy must not exceed 50% of the qualifying cost of the investment plan. On this basis, Greece is divided into three zones based on the level of development of each prefecture.

Subsidies provided in zone A (prefecture Attica and Viotia) vary from 15% to 25% of the investment depending on the size of the enterprise

Subsidies provided in zone B (prefectures with per capita Gross National Product above 75% of the country’s average) vary from 30% to 40% of the investment depending on the size of the enterprise

Subsidies provided in zone C (prefectures with per capita Gross National Product lower than 75% of the country’s average) vary from 40% to 45% of the investment depending on the size of the enterprise.

Finally, the highest percentages are provided for investment projects implemented in islands and remote areas up to a threshold of 50% of the qualifying investment cost.

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


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

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