Αναπτυξιακός Νόμος 4399/16

The Investment Incentives Law 4399/2016 consists a statutory framework for the establishment of Private Investments Aid Schemes for the regional and economic development of the country.

The key objectives of the law 4399/2016  include:

  • the creation of new jobs with emphasis in the employment of skilled human resources
  • the increase of extroversion and innovativeness of businesses
  • the increase in added value
  • the improvement of technological level and competitiveness
  • the creation of a new extrovert national image (branding)
  • the reindustrialization of the country
  • the attraction of foreign direct investments
  • achieving a better placement of the country in the International Division οf Labor
  • the promotion of a balanced and sustainable development with emphasis on regional convergence

CONTENTS OF INVESTMENT PLAN – INITIAL INVESTMENT

  • development of a new plant
  • capacity expansion of an existing plant
  • diversification of a plant’s production
  • substantial modification of the entire production procedure of an existing plant
  • acquisition of all assets of a closed plant

MINIMUM INVESTMENT AMOUNT (IN EURO)

  • Large sized companies: 500.000
  • Medium sized companies, cooperatives and clusters: 250.000
  • Small sized companies: 150.000
  • Very small sized companies: 100.000
  • Social Cooperative Companies (SoCC): 50.000

ENTITY PARTICIPATION IN THE INVESTMENT COST

The participation of the entity in the cost of the investment project can take place either through own funds or through external financing, provided that 25% of the total investment cost does not contain any state aid, support or subsidy whatsoever.

Beneficiaries of the aid are companies that are established or maintain a branch in Greece at the commencement date of the investment plan and fall under one of the following corporate types:

BENEFICIARIES

  • Personal company
  • Commercial companies
  • Social Cooperative Companies (SoCC)
  • Agricultural Cooperatives (AC), Producer groups (PG) and Agricultural Corporate Partnerships (ACP)
  • Companies in establishment or merger procedures, provided that they have completed their publicity procedures before the commencement date of the investment plan
  • Companies that operate as joint ventures, provided that they are registered in the General Electronic Commercial Registry (GEMI)
  • Public and municipal companies, and their  subsidiaries.

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