To be eligible under the provisions of Development Law 4887/2022, the following terms and conditions must be met:
The investment project must primarily aim for one of the following:
- Creation of a new unit,
- Expansion of the capacity of an existing unit,
- Diversification of the production of a unit into products or services that have never been produced in it, provided that the eligible expenses exceed by at least 200% the accounting value of the assets being reused, as recorded in the financial year preceding the start of the investment project, or
- Fundamental change of the entire production process of an existing unit, provided that the eligible expenses exceed the depreciation of the assets associated with the activity to be modernized during the previous three financial years.
The entity’s participation in the cost of the investment project may be covered either by own funds or external financing, provided that twenty-five percent (25%) of the subsidized cost does not include any state aid, public support, or provision.
The minimum eligible investment amount for the inclusion of investment projects under the support regimes of the development law is determined based on the size of the entity, as follows:
- For large enterprises, the amount is one million (1,000,000) euros,
- For medium enterprises and cooperatives, the amount is five hundred thousand (500,000) euros,
- For small enterprises, the amount is two hundred fifty thousand (250,000) euros,
- For very small enterprises, the amount is one hundred thousand (100,000) euros,
- For cooperatives, the amount is fifty thousand (50,000) euros.
Other additional restrictions are as follows:
- In the Attica Region, large enterprises can only be subsidized for initial investments for new economic activity.
- The total amount of aid per submitted investment project cannot exceed ten million (10,000,000) euros.
- The aid provided to each entity for the investment project, including aid to cooperating or affiliated enterprises, cannot cumulatively exceed twenty million (20,000,000) euros for an individual enterprise and thirty million (30,000,000) euros for all cooperating or affiliated enterprises, subject to the restrictions of Article 4 of the General Exemption Regulation. These upper limits are increased by fifty percent (50%) in cases where the aid is given in the form of tax relief, except as specifically provided in the "Just Development Transition" regime. These restrictions apply to investment projects under the development law and for a period of three (3) years from the submission of the entity’s application for the inclusion of its investment project. The amount of aid, per submitted investment project, is considered as approved by the inclusion decision. The excess amount of aid is proportionately reduced by type of aid and expenditure group.
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Eligibility Requirements
14 June 2023
ΙΩΝΙΚΗ Finance
To be eligible under the provisions of Development Law 4887/2022, the following terms and conditions must be met:
The investment project must primarily aim for one of the following:
- Creation of a new unit,
- Expansion of the capacity of an existing unit,
- Diversification of the production of a unit into products or services that have never been produced in it, provided that the eligible expenses exceed by at least 200% the accounting value of the assets being reused, as recorded in the financial year preceding the start of the investment project, or
- Fundamental change of the entire production process of an existing unit, provided that the eligible expenses exceed the depreciation of the assets associated with the activity to be modernized during the previous three financial years.
The entity’s participation in the cost of the investment project may be covered either by own funds or external financing, provided that twenty-five percent (25%) of the subsidized cost does not include any state aid, public support, or provision.
The minimum eligible investment amount for the inclusion of investment projects under the support regimes of the development law is determined based on the size of the entity, as follows:
- For large enterprises, the amount is one million (1,000,000) euros,
- For medium enterprises and cooperatives, the amount is five hundred thousand (500,000) euros,
- For small enterprises, the amount is two hundred fifty thousand (250,000) euros,
- For very small enterprises, the amount is one hundred thousand (100,000) euros,
- For cooperatives, the amount is fifty thousand (50,000) euros.
Other additional restrictions are as follows:
- In the Attica Region, large enterprises can only be subsidized for initial investments for new economic activity.
- The total amount of aid per submitted investment project cannot exceed ten million (10,000,000) euros.
- The aid provided to each entity for the investment project, including aid to cooperating or affiliated enterprises, cannot cumulatively exceed twenty million (20,000,000) euros for an individual enterprise and thirty million (30,000,000) euros for all cooperating or affiliated enterprises, subject to the restrictions of Article 4 of the General Exemption Regulation. These upper limits are increased by fifty percent (50%) in cases where the aid is given in the form of tax relief, except as specifically provided in the "Just Development Transition" regime. These restrictions apply to investment projects under the development law and for a period of three (3) years from the submission of the entity’s application for the inclusion of its investment project. The amount of aid, per submitted investment project, is considered as approved by the inclusion decision. The excess amount of aid is proportionately reduced by type of aid and expenditure group.
Development Law 4887/2022
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