Working Capital Subsidy to Support Tourism Hospitality Businesses Affected by the Pandemic

The Action aims to support the operation of businesses in the tourism sector after resuming their operation and in view of the official start of tourism activity for 2021 during the COVID-19 pandemic. The support of the companies will be provided by sufficient liquidity for the resumption of their economic activity, through the non-repayable increase of part of the working capital.

Budget

350 million euros for all regions of the country, which are divided into 300 million euros for Small and Medium Enterprises and 50 million euros for Large Enterprises.

This amount may be increased to cover all positively evaluated funding applications.

The Action is co-financed by the European Regional Development (ERDF) of the European Union and by national resources.

Beneficiaries of the Action

Tourist Enterprises regardless of their legal form and in particular hosting companies of any kind, travel agencies, as well as tourist bus companies, that meet the eligibility requirements to join the Action.

Subsidy

Up to 400.000 euros per company with a distinct VAT.

Each company will be awarded a total non-repayable grant in the form of working capital, which can amount to a maximum of 5% for enterprises with eligible business activity code in category 55 and 2.5% for enterprises with another eligible business activity code of the annual Turnover of the year 2019.

In companies that have started operations in 2019 or within 2020, the non-repayable aid may amount to a maximum of 5% or 2.5% depending on the eligible activity of the reduced turnover of the year of commencement (2019 or 2020).

The companies that in the year 2019 were under construction and were proven not to have income from business activity of any kind, are awarded a total non-repayable grant that can amount to 5% or 2.5% depending on the eligible activity, on the total or of the reduced turnover of the year 2020.

Period for submission of investment projects

From 16/06/2021 (10:00) to 29/09/2021 (17:00)