Development Law: 1st Cycle of the "Large Investments" Scheme

Start Date: 01/07/2025
End Date: 10/09/2025

Purpose

The purpose of this scheme is to support large investment projects in various sectors of the economy in order to bring significant benefits to local economies through their implementation.

Eligible Investment Projects

This scheme includes investment projects where the total eligible expenditure exceeds fifteen million (15,000,000) euros, excluding those that fall under aid schemes for:

(a) Agri-food – primary production and processing of agricultural products – fisheries

(b) Enhancement of tourism investments

(c) Alternative forms of tourism

Submitted investment projects must have a complete initial investment character and must specifically meet the following conditions, involving investment in tangible and intangible assets in one or more of the following:

- Creation of a new facility

- Expansion of the production capacity of an existing facility

- Diversification of the production of an existing facility into products or services that were never previously produced or provided by it, provided that the eligible expenses exceed at least 200% of the book value of the reused assets as recorded in the fiscal year preceding the application

- Fundamental change in the entire production process of an existing facility. For large enterprises, the eligible investment expenses must also exceed the depreciation of the last three fiscal years for the assets involved in the activity to be modernized.

Eligible and Ineligible Beneficiaries

Eligible for the support provided under this scheme are investment entities operating or intending to operate within Greek territory at the time the investment project starts, and have one of the following legal forms:

a. Commercial company

b. Cooperative

c. Social Cooperative Enterprises (SCE), Agricultural Cooperatives, Producer Groups, Civil Cooperatives, Agricultural Corporate Partnerships

d. Companies undergoing merger, provided the publicity procedures are completed before project commencement

e. Joint ventures engaged in commercial activity

f. Public and municipal enterprises and their subsidiaries

The following are excluded from support and participation in the schemes:

a. Companies subject to a recovery order for illegal state aid (Deggendorf rule)

b. Problematic enterprises

c. Companies that, within two (2) years prior to the application for support:

ca. Relocated the business site where the investment will take place

cb. Refuse to commit that they will not relocate the above facility within two (2) years after the project’s completion

d. Companies implementing projects initiated and executed on behalf of the State under a contract

Types, Intensity, and Amounts of Support

The following types of support are available for investment projects under this scheme:

1. Tax exemption
2. Grant
3. Leasing subsidy
4. Wage cost subsidy for new jobs created

Regional Aid Map

The maximum grant/subsidy amount is set at €20 million.

Eligible Expenses

Eligible costs for which regional aid is provided, subject to further terms and conditions, include:

A. Capital investments in tangible assets, including:

aa. Construction, expansion, and modernization of buildings and auxiliary infrastructure, including accessibility works for disabled persons and landscaping

ab. Purchase of existing fixed assets such as buildings, machinery, and other equipment

ac. Purchase and installation of new modern machinery and equipment, including technical installations and internal transport equipment

ad. Leasing payments for new modern machinery and equipment, provided ownership transfers to the lessee at the end of the lease

ae. Modernization of non-building specific and mechanical installations

B. Investments in intangible assets, including:

ba. Technology transfer through acquisition of intellectual property rights, licenses, patents, know-how, and unpatented technical knowledge

bb. Quality assurance and control systems, certifications, software acquisition and installation, and business organization systems

Additionally, projects may be supported for the following non-regional aid categories under Article 6:

1. Consulting services for SMEs
2. Energy efficiency measures
3. High-efficiency cogeneration from RES
4. Installation of efficient district heating/cooling systems
5. Environmental damage remediation and ecosystem restoration
6. Efficient use of resources and support for the circular economy
7. Professional training
8. Participation of SMEs in trade fairs
9. Hiring disadvantaged workers

Non-eligible expenses:

1. Operating expenses
2. Office furniture and utensils unless part of the core production equipment
3. Passenger vehicles with up to six (6) seats
4. Purchase of land, plots, and fields
5. Contribution of assets into company capital

Investment Project Funding Structure

Each entity must finance the investment either through own funds or external financing.

At least twenty-five percent (25%) of the eligible cost must not include any public support or aid.

Minimum Project Budget

Only projects with eligible costs exceeding €15,000,000 are eligible under this scheme.

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