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State Aid schemes in Investment Incentives Law 4399/2016
State Aid schemes from the latest Investment Incentives Law 4399/2016
| AID SCHEMES | DESCRIPTION/ OBJECTIVE | TYPE OF AID | EVALUATION |
|---|---|---|---|
| Machinery and equipment | Creation of a limited aid framework with simple procedures. Appealing to Companies wishing swift accession with minimum criteria, without a tendering procedure and immediate payment of the aid | Tax exemption | Direct Evaluation |
| General Entrepreneurship | Applies to all companies and constitutes the main framework through which investment expenses of existing companies will be aided | •Tax exemption •Leasing subsidy •Wage subsidy •For Special Categories: 70% subsidy on the projected amount of aid | Comparative Evaluation |
| New Independent SMEs | A full framework of incentives is offered exclusively to new or under establishment independent SMEs that intend to make an initial investment to one of the eligible sectors of the Law | •Tax exemption •Subsidy of 70% of the projected amount of aid •Leasing subsidy •Wage subsidy •For Special Categories: 100%Subsidy on the projected amount of aid | Comparative Evaluation |
| New Independent SMEs | A full framework of incentives is offered exclusively to new or under establishment independent SMEs that intend to make an initial investment to one of the eligible sectors of the Law | •Tax exemption •Subsidy of 70% of the projected amount of aid •Leasing subsidy •Wage subsidy •For Special Categories: 100%Subsidy on the projected amount of aid |
Comparative Evaluation |
|
Innovative SMEs |
Applies to SMEs wishing to implement investment plans relating to the production of innovative products or the introduction of organizational or procedural innovations | •Tax exemption •70%Subsidy on the projected amount of aid •Leasing subsidy •Wage subsidy •For Special Categories: 100%Subsidy on the projected amount of aid |
Comparative Evaluation |
|
Synergies and Networking |
Aiming to promote the competitiveness of participating companies in the clusters and spreading the collaborative culture in Greek entrepreneurship, through the support of common activities. Participation of companies, also R & D organizations, nonprofit organizations and other similar economic entities | •Subsidy •Tax exemption •Leasing subsidy •Wage subsidy for created jobs |
Comparative Evaluation |
| Financial intermediation and capital funds | Establishment of Holding Funds or other specialized Funds with participation of the Greek State, aiming to increase the innovation and the export potential of Greek companies, as well as to increase employment | •Own funds or quasi own funds investments •Loans |
Procedures determined by State – Fund Manager agreement |
| Integrated spatial and sectoral plans - Value Chains | Aiming to increase and protect employment, as well as regional convergence utilizing the comparative advantages of an area and supporting local interconnections. Applies to companies and cluster that participate in sectoral or local production systems or in other value chains, with a mandatory participation of at least 8 entities | •Tax exemption •Subsidy (large companies excl.) •Leasing subsidy •Wage subsidy for created jobs |
Determined at the Invitation Decision |
| Major Investments | The aim is to create a safe investment environment, which will facilitate the realization of major investment plans aiming to the development of the Greek economy, the creation of new jobs and the transfer of knowledge and knowhow. Applies to companies that implement investment plans that exceed the amount of €20.000.000 and create at least two jobs for every million of eligible investment budget. | •Fast Track Licensing procedure •Fixed corporate tax rate for 12 years •Alternatively the investing entity may use the tax exemption with aid rate 10% up to a maximum amount of €5.000.000 |
Direct Evaluation |
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