Previous Development Laws


Development Law 4887/2022

Development Law 4887/2022

The New Development Law 4887/2022 provides for the promotion of economic development in Greece by granting incentives to specific activities and sectors, to achieve the digital and technological transformation of businesses and the improvement of competitiveness, the green transition and the environmental improvement, the creation of economies of scale, the support of innovative investments and tourism, the creation of employment, the strengthening of less favoured regions of Greece. It introduces 13 schemes of state aid to encourage private investments across diverse areas of business activity such as manufacturing, tourism, logistics, and more. The law operates in conjunction with the Regional Aid Map 2022-2027, which has been in effect since January 1st 2022.

The beneficiaries of the New Development Law 4887/2022 are enterprises that are either established or have a branch in Greece at the commencement of the investment project. The eligible forms of enterprises include individual enterprises with a maximum allowable investment project cost of € 200,000 (applicable solely to the "Agri-food - primary production and processing of agricultural products - fisheries" scheme), commercial companies (S.A., Private Company, Ltd Company, General Partnership, Limited Partnership), cooperatives, social cooperative enterprises (S.C.E.), agricultural cooperatives, producer groups, agricultural cooperative partnerships, urban cooperatives, public and municipal enterprises (subject to specific conditions), companies under establishment or merger (subject to specific conditions), and consortia engaged in commercial activity.

For the investment project, each entity is required to contribute to the project cost using its own funds or external financing (e.g. loans). It is important to note that 25% of the subsidized cost of the investment project must not include any form of state aid, public support, or benefits.

Investment plans subject to the aid schemes of the New Development Law 4887/2022 should have the initial investment character and must fulfil one of the following criteria: the creation of a new plant, the expansion of the production capacity of an existing plant, the diversification of the production of a plant into products that have never been produced or services that have not been provided by it, and the fundamental change of the entire production process of an existing plant.

13 aid schemes of new Development Law 4887/2022

The New Development Law 4887/2022 encompasses a total of 13 aid schemes, aimed at promoting economic growth and development in various sectors. These schemes are implemented through open calls for investors, with certain cases requiring the collaboration of relevant policy-making institutions such as the Ministry of Rural Development, the Ministry of Environment, the Ministry of Tourism etc. The 13 aid schemes of the new Development Law 4887/2022 are:

  • 1Digital and technological business transformation. The objective is to facilitate the technological advancement of existing units while introducing new digital functions and processes.
  • 2Green transition - Environmental Upgrade for businesses. It concerns activities in the circular economy and sustainable development that adopt technologies that contribute to the protection of the environment and the energy upgrade of businesses.
  • 3New Entrepreneurship
  • 4Just Transition Plan
  • 5Research and applied innovation. Investment plans that promote research,  development and application of ideas and technologies in the production process.
  • 6Agri-food - primary production and processing of agricultural products - fisheries. Investment projects in the fields of primary agricultural production, processing of agricultural products, fisheries and aquaculture.
  • 7Processing - Supply chain. Investment projects in the manufacturing and logistics sectors
  • 8Business extroversion. Investment projects are focused on expanding into new international markets by exporting their products or services.
  • 9Enhancement of tourism investments. Εstablishment, creation, expansion and modernization of of tourist accommodations.
  • 10Alternative forms of tourism. Investment plans that concern alternative forms of tourism, conference centers, golf courts, theme parks, spa tourism ,ski resorts, Agrotourism, Diving tourism etc
  • 11Major investments. Investment projects with a budget of more than EUR 15 million. 
  • 12European value chains (EVCs). Ιnvestment projects in microelectronics, high-performance computers, batteries, interconnected and autonomous schemes, cybersecurity, personalized medicine and health, low-carbon industry, hydrogen, internet of Things.
  • 13Entrepreneurship 360°.

Type of Aid in the Development Law 4887/2022

Medium and large enterprises are eligible for tax exemptions, leasing subsidies, and employment subsidies, while small and micro enterprises can receive all types of state-aid incentives, including cash grants. These types of aid can be provided individually or in combination, with the total amount of aid determined for each investment project.

  • Tax exemptions: Exemption from income tax payment on the pre-tax profits derived from the overall operations of the company.
  • Cash Grants: Monetary assistance provided by the State, to cover part of the eligible costs of the investment project.
  • Leasing subsidies: Partial financial coverage of the leasing instalments. The leasing subsidy may not exceed seven (7) years
  • Employment subsidy: Subsidy of the cost of the employment created, which consists of the State covering part of the wage costs of the new jobs created and linked to the investment project and for which no other State aid is received.
  • Funding of corporate risk (Exclusively applicable for "New Entrepreneurship"scheme )

Minimum Subsidized Budget

By the New Development Law 4887/2022, the minimum subsidized budget requirement for an investment project differs based on the size of the entity leading the project. Here are the established minimum amounts based on entity size:

  • Micro enterprises: €100,000
  • Small businesses: €250,000
  • Medium-sized enterprises: €500,000
  • Large enterprises: €1,000,000
  • Social Cooperative Enterprises, Agricultural Cooperatives, Civil Cooperatives, Organizations of Producers, Agricultural Partnerships: €50,000

Rates of aid

The maximum aid rate for an investment project is determined by both the size of the financial investor and the specific region where it will be carried out. According to the updated Regional Aid Map 2022-2027, the aid rates vary and can range from the following values:

  • from 35% to 75% for Small and Micro enterprises,
  • from 25% to 65% for Medium Enterprises,
  • and from 15% to 55% for Large Enterprises

For micro and small enterprises, the aid rates for all types of incentives, except the grant, are granted at the maximum rate of the Regional Aid Map. The grant incentive is granted at eighty per cent (80%) of the maximum rate of the Regional Aid Map. 3 of Article 34 of Law 4887, the grant incentive is granted at one hundred per cent (100%) of the ceiling, except for islands with a population of less than three thousand one hundred (3,100) inhabitants which is granted at ninety per cent (90%). For medium and large enterprises, the aid in Development Law 4887 includes the above incentives except for the grant.




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