The first scheme of the new Development Law opens

The first scheme of the new Development Law opens

The new long-awaited Development Law (4887/2022) will be activated next Wednesday, with the program “Processing – Supply Chain” to open first.

According to a plan announced by the Ministry of Development, after the announcement of “Processing – Supply Chain” scheme, the scheme“Support to tourism investments” will follow as well as the “Agrifood” scheme. The main goal of the deputy minister Nikos Papathanasis is all the schemes of the new development to have been proclaimed by the end of the year.

Each scheme will have a budget of 150 million euros, of which 75 million will concern aid in the form of grant, financial lease subsidy and cost of created employment subsidy, while the rest 75 million will be tax exemptions.

The maximum amount of the grant - subsidy is set at 3 million euros, while that of the tax exemption at 5 million euros.

The law states that the grant will be given to small and medium sized enterprises, while the tax exemption aid will be provided to large enterprises.

An exception is the areas in which the Fair Development Transition will be implemented - which have been selected for the transition from fossil fuels, where the investment plans of large companies can also be subsidized.

In order to be included in the "Processing - Supply Chain" aid scheme, the minimum amount of the eligible cost of the investment project amounts to:

a. 1,000,000 euros for large companies,

b. 500,000 euros for medium-sized enterprises,

c. 250,000 euros for small businesses,

d. 100,000 euros for very small businesses,

e. 50,000 euros for Social Cooperative Enterprises, as well as Agricultural Cooperatives, Civil Cooperatives, Producer Groups and Agricultural Partnerships.

July 27, 2022, and October 31, 2022, are the starting dates for submitting applications for investment projects under this scheme.


Please contact us for more information about your project.