Three new notices of the Development Law 4399/2016, with a total budget of € 525 million. €, signed by the Deputy Minister of Development and Investments, Mr. Papathanasi and were published in the Government Gazette.

The notices concern the following Aid Schemes:

1st Call for Proposals N. 4399/2016: General Entrepreneurship

The budget for the scheme amounts to EUR 170 million. €, of which €70 million come from the Public Investment Budget and the 100 million euros. they relate to the type of aid for the tax exemption.

It is addressed to businesses that are established or have a branch in Greek territory in the form of a sole proprietorship, commercial company, cooperative, Co.S.E.P., Agricultural Cooperative, Group of Producers or Agricultural Partnerships.

The minimum eligible amount of an application budget is set on the basis of the size of the organisation, i.e.:

• for large enterprises, to the amount of 500.000 €
• for medium-sized enterprises and cooperatives in the amount of 250.000 €
• for small businesses, to the amount of 150.000 €
• for micro-enterprises, to the amount of 100.000 €
• for Social Cooperatives, Agricultural Cooperatives, Producer Groups (POs) and Agricultural Partnerships, in the amount of € 50,000

Application deadline: 31 March 2021

2nd Call for Proposals N. 4399/2016: Entrepreneurship of Micro and Small Enterprises

The budget for the scheme is EUR 205 million. €, of which €200 million they come from the Public Investment Budget and the EUR 5 million. they relate to the type of aid for the tax exemption.

It is aimed at enterprises with fewer than 50 employees and their annual turnover and/or total assets do not exceed 10 million. €.

The minimum eligible amount of an application budget is set on the basis of the size of the organisation, i.e.:

• for small businesses, to the amount of 150.000 €
• for micro-enterprises, to the amount of 100.000 €

Application deadline: 31 March 2021

3rd Notice N. 4399/2016: mechanical equipment - Mechanical equipment subsidies

The budget amounts to EUR 150 million. relating to the type of aid for the tax exemption.

It is addressed to businesses that are established or have a branch in Greek territory in the form of a sole proprietorship, commercial company, cooperative, Co.S.E.P., Agricultural Cooperative, Group of Producers or Agricultural Partnerships.

Costs of mechanical equipment and means of transport used within the plant are supported, provided that they relate to an initial investment.

Its minimum eligible amount is set on the basis of the size of the organisation, i.e.:

• for large enterprises, to the amount of 500.000 €
• for medium-sized enterprises and cooperatives in the amount of 250.000 €
• for small businesses, to the amount of 150.000 €
• for micro-enterprises, to the amount of 100.000 €
• for Social Cooperatives, Agricultural Cooperatives, Producer Groups (POs) and Agricultural Partnerships, in the amount of € 50,000

Application deadline: 30 September 2021

Content of the investment plan of the schemes - Character of the initial investment for notices under the Development Law

• Create a new unit
• Capacity expansion of an existing unit
• Diversification of a unit's output into products or services that have never been produced in it
• Fundamental change of the entire production process
• Acquisition of assets of a unit that has ceased operations

Types of aid for notices under the Development Law

• Tax exemption
• Subsidy
• Leasing subsidy
• Subsidization of the cost of employment created

In total, EUR 525 million will be made available for this purpose. to strengthen businesses, the market and the Greek economy, with particular emphasis on supporting small and medium-sized enterprises, which are a key pillar of growth and economic prosperity.

Supporting entrepreneurship and creating more and better paid jobs is a key priority of the Government, as it creates stable and better paid jobs.