DEVELOPMENT LAW

TERMS & CONDITIONS OF INCLUSION

  1. Participation of aid beneficiary in the cost of the investment project
    The aid beneficiary may participate in the cost of the investment project either through its own resources or by external financing, provided that at least twenty-five percent (25%) of the total investment cost does not contain any State aid, public support or provision (Article 14 para. 14 GBER).
  2. Minimum threshold of investment projects
    The minimum eligible threshold of investment for inclusion of investment projects in the aid schemes hereof shall be defined by the size of the aid beneficiary, namely: (a) for large enterprises, in the amount of five hundred thousand (500,000) euros; (b) for medium-sized enterprises, cooperatives and clusters of Article 52, in the amount of two hundred fifty thousand (250,000) euros; (c) for small enterprises, in the amount of one hundred fifty thousand (150,000) euros; (d) for micro enterprises, in the amount of one hundred thousand (100,000) euros; (e) for the Social Cooperative Enterprises of Law 4019/2011 (Gov. Gaz. 216, Vol. A) and the Agricultural Cooperatives, the Producers Groups and the Rural Partnership of Law 4384/2016 (Gov. Gaz. 78, Vol. A), in the amount of fifty thousand (50,000) euros.
  3. Content of investment projects
    The investment projects falling under the aid schemes hereof should be an initial investment (Article 2 point 49 GBER); in particular, they should meet one of the following conditions: (a) setting-up a new establishment; (b) extension of the capacity of an existing establishment; (c) diversification of the output of an establishment into products not previously produced in the establishment provided that the eligible costs are higher than 200% of the book value of assets used again as recorded in the fiscal year preceding the application for inclusion of the investment project; (d) fundamental change in the overall production process of an existing establishment, provided that the eligible costs exceed the depreciation during the three previous fiscal years of the assets related to the activity, which is to be modernised; (e) an acquisition of assets belonging to an establishment that has closed or would have closed had it not been purchased by an investor unrelated to the seller and excludes sole acquisition of the shares of an undertaking.

BENEFICIARIES OF INCLUDED INVESTMENT PROJECTS

  1. Aid beneficiaries of these aid schemes are enterprises established or having a branch in the Greek territory at the time of start of works of the investment project in one of the following forms:
    (a) personal business; (b) trading company (c) cooperative; (d) Social Cooperative Enterprises of Law 4019/2011 (Gov. Gaz. 216, Vol. A), Agricultural Cooperatives, Producers Groups, Rural Partnerships of Law 4384/2016 (Gov. Gaz. 78, Vol. A); (e) companies under establishment or merging companies, with the obligation to have completed the publicity procedures before the start of works of the investment project; (f) businesses operating as a joint venture provided they are registered with the General Commercial Registry (GCR); (g) public and municipal companies and their subsidiaries, provided that: (aa) they have not been assigned to serve the public purpose; (bb) they have not been exclusively assigned by the state to provide services; (c) their operation is not funded by public funds for the period of compliance with the long-term obligations of Article 21.
  2. Businesses, whose eligible amount of investment projects exceeds five hundred thousand (500,000) euros and are included in the aid schemes hereof are required to take the legal form of a commercial company or cooperative before the start of works of the investment project.
  3. The following shall not be considered beneficiaries and shall be excluded from the aid schemes hereof:
    (a)
    undertakings in difficulty, as defined in Article 2 paragraph 18 GBER (Article 1 para. 4 point (c) GBER); (b) undertakings which have closed down the same or a similar activity in the European Economic Area in the two years preceding its application for regional investment aid or which, at the time of the aid application, have concrete plans to close down such an activity within a period of up to two (2) years after completion of the investment project for which aid is requested in the area concerned (Article 13 point (d) GBER); (c) undertakings implementing investment projects carried out on the initiative and behalf of the State, on a contract of work, concession or supply of services.

DOCUMENTS

Development Law / Government Gazette

SUBMISSION PERIOD

From 01/09/2020 until 30/10/2020