Yesterday 10/06/2021, the new OPENING of the new OPENING: Subsidy for the Working Capital of Tourism Hospitality Enterprises affected by the Pandemic - Tourism Revival, which aims to support the operation of tourism enterprises after the restart of their operations under the pandemic of COVID-19, was finally published. The support to businesses will be provided by providing sufficient liquidity to restart their economic activity, through the non-repayable support of part of the working capital.

Subsidy of working capital of tourism hospitality businesses affected by the pandemic

Details of the action to support tourism businesses:

The grant comes from the Operational Programme "Competitiveness, Entrepreneurship and Innovation" (EPANEK) of the NSRF 2021 - 2027 and concerns small and medium-sized (€300 million) and large (€50 million) tourism businesses:

• Hotels, accommodation, rooms to let
• Tourist offices / agencies
• Tourist bus operators

Franchise companies are also included, provided that certain regulatory criteria of the NSRF are met.

Each enterprise (distinct TIN) will be awarded a total non-repayable grant in the form of working capital, which may amount to a maximum of 5% for enterprises with an eligible SMR in category 55 and 2.5% for enterprises with another eligible SMR of the annual Turnover of the year 2019.

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

Businesses that in the year 2019 were in the construction stage and demonstrably did not have income from business activity of any kind, are awarded a total non-repayable grant that may amount to a percentage of 5% or 2.5% depending on the eligible activity, on the total or reduced Turnover of the year 2020.

The maximum amount of aid is set at EUR 400 000 per VAT number.

Conditions for participation in the Action

The criteria for inclusion in the action for tourism enterprises are:

A) Legal operation of the business
B) Substantial activity in the above activities (main Nace Code or Nace Code with the largest revenues in the tourism sector)
C) Reduction of annual turnover 2020 compared to 2019 greater than or equal to 30%
D) Staff for the year 2019 at least equal to 1 Annual Work Unit (AWU) of paid employment
E) Obligation to submit VAT returns (Normal VAT Regime)

Please note that:

• For tourism businesses established in 2019, an equal number of days of operation in 2020 is calculated for the turnover drop
• Businesses established in 2020 with non-zero turnover are automatically included in the action
• Business. that were under construction in 2019 and started to have revenues in 2020 are treated as established in 2020

Application procedure for the grant

The starting date for the electronic submission of proposals to the State Aid Information System (www.ependyseis.gr/mis) is Wednesday 16/06/2021 at 10:00 with a deadline of Wednesday 29/9/2021 at 17:00.

Applications that are not submitted online cannot receive aid. After the date and time of the
electronic submission of Funding Applications, no application submission is accepted.

The evaluation will be immediate. The disbursement of the grant will take place immediately after the approval and inclusion in the action, i.e. without the need to submit a new application.

The tourism enterprises included in the action are obliged to:

• Consume the grant until 31-12-2021. The check will be made on the basis of the declared expenses in the periodic VAT returns (Fields 361, 363, 364, 365)
• Employ in 2021 at least 0.5 Annual Labour Unit (ALU) of paid labour. The verification will be based on data from the ERGANI Information System .

It should be noted that the subsidy:

A) The amount of aid to be granted by the action should not exceed 70% of the sum of the amounts of Codes 361, 363, 364 and 365 of the periodic VAT return form for the period 1/4/2021 – 31/12/2021.

B) The sum of the amount of public funding from this action and the amount of public funding in the context of the actions to support businesses affected by the COVID-19 pandemic of the Regional Operational Programs of the NSRF throughout Greece, may not exceed 100% of the sum of the amounts indicated in Code 367 of the form of the periodic VAT returns for the year 2021.

If either (A) and/or (B) applies, then the excess amount of public funding of the last grant awarded in time shall be charged as unduly paid and reimbursed by the aid recipient.

More information about the action here.