The programme
Entrepreneurship 360 - Development Law 4887/2022
The purpose of this scheme Entrepreneurship 360 is to support all the investment projects covered by this scheme, except for certain categories for which specific schemes are established, which concern the implementation of initial investments and the possibility of incurring additional expenditure, for the benefit of entrepreneurial initiatives and the national economy.
Who it concerns
Entrepreneurship 360 - Who it concerns
Investment projects in Entrepreneurship 360 must have an integrated character of initial investment and in particular meet one of the following conditions:
- Create a new unit.
- Expansion of the capacity of an existing plant.
- Diversification of a unit's output into products that have never been produced or services that have not been provided by it provided that, for large enterprises, the aided expenditure exceeds by at least two hundred percent (200%) the book value of the assets being re-used, as recorded in the tax year preceding the application for the investment project.
- Fundamental change of the entire production process of an existing unit. For large enterprises, it is also required the aided investment expenditure must exceed the depreciation of assets linked to the activity to be modernised and incurred during the three (3) previous tax years. If the depreciation linked to the activity is not clearly shown, the above condition is deemed not to be met.
Underlying investment projects
The Entrepreneurship 360 scheme covers investment projects, as defined in Article 5 of Law No. 4887/2022, εξαιρουμένων αυτών που εμπίπτουν στα καθεστώτα ενισχύσεων της αγροδιατροφής – πρωτογενούς παραγωγής και μεταποίησης γεωργικών προϊόντων – αλιείας των άρθρων 65 έως 71, manufacturing - supply chain of articles 72 to 77, support for tourism investment Articles 84 to 90 and alternative forms of tourism of articles 91 to 97 and are included in the Activity Codes of the National Nomenclature of Economic Activities, as they will be reflected, on the basis of an administrative document, in a table to be posted on the website of the Ministry of Development and Investment: https://ependyseis.mindev.gov.gr/
More specifically, eligible investment projects are:
- quarrying of marble and other limestone for monuments or buildings (SIC 08.11.11) and quarrying of granite, sandstone and other stones for monuments or buildings (building stones) (SIC 08.11.12), when carried out by undertakings with an existing manufacturing activity or one acquired before the completion of the quarrying investment projects.
- desalination of seawater, (CN code 36.00.20.01), when carried out in island areas using renewable energy sources, without being included in their eligible costs.
- Production of films, video and television programmes, sound recordings and music publishing (CN codes 59 and 60.10.2, 60.20.1, 60.20.2, 60.20.3, 63.11.2, 63.11.21, 63.11.22) for the creation of permanent 'studios'.
- Real Property Management (Code 68.32.13.00) for O.Y.M.E.D. development and management operations if they involve establishment or expansion and are implemented on more than three hundred (300) acres.
- Field Services (ID 93.11.10.01) with the construction of at least six (6) fields and Swimming Pool Services (swimming pool) with dimensions of more than 25 meters exclusively for sports purposes.
- Laundry Engineering Services (SIC 96.01.19.02) and Clothes Ironing Services (SIC 96.01.13.01) whose activity involves, in more than 60%, services to hospitals, hotels, nursing homes, etc. and whose minimum value exceeds one (1) million euros.
- Establishment of recovery and rehabilitation centres, as defined in article 10 of Law No. 2072/1992 (A' 125) and investment projects for the provision of Sheltered Housing for Persons with Disabilities, according to article 30 of the same law, with a minimum amount of more than one (1) million euros.
- Provision of services to retirement homes (code 87.30.11.01) with a minimum value of more than one (1) million euros
The submitted investment projects are developed in each Regional Unit and may be divided into parts only in cases where they are inseparably linked parts of the same - single investment project, which has the character of an initial investment, but are governed by a different institutional framework, or differ in the intensity of the aid provided.
In cases where the investment project is structured in segments, the costs supported must be entirely distinct.
Επιλέξιμες επιχειρήσεις
Eligible are companies that are established or have a branch in Greek territory at the time of commencement of the investment project and have one of the following forms:
- trading company,
- cooperative,
- Social Cooperative Enterprises (SPs) of 4430/2016 (A 2015)), Agricultural Cooperatives (AC), Producer Groups (POs), Agricultural Corporate Partnerships (ACPs) of Law 4384/2016 (A 78),
- companies being formed or merged, with the obligation to have completed the disclosure procedures before the start of work on the investment project,
- joint ventures engaged in commercial activity
- public and municipal enterprises and their subsidiaries, provided that:
- they are not entrusted with the service of a public purpose,
- they are not exclusively entrusted by the State with the provision of services,
- δεν επιχορηγείται η λειτουργία τους με δημόσιους πόρους για το διάστημα τήρησης των
μακροχρόνιων υποχρεώσεων του άρθρου 22.
Μη επιλέξιμες επιχειρήσεις
The following are not considered beneficiaries and are excluded from aid under this scheme Entrepreneurship 360 :
- undertakings which are subject to pending aid recovery proceedings at the time of the submission of the investment project application (Deggendorf principle),
- firms in difficulty, as defined in paragraph 18 of Article 2 of the General Tax Code (Article 1(4)(c) of the General Tax Code),
- enterprises which in the two (2) years preceding the submission of the application for aid:
- have relocated the business establishment in which the initial investment for which aid is requested is to be carried out, or
- refuse to commit not to relocate the above business establishment for a period of two (2) years after the completion of the initial investment,
- enterprises implementing investment projects carried out on the initiative and on behalf of the State, on the basis of a relevant contract for the execution of a project, concession or provision of services.
Program budget
Program budget
The total budget of the Entrepreneurship 360 scheme for the year 2022 amounts to one hundred and fifty million (150.000.000) euros, of which seventy-five million (75.000.000) euros are for the tax exemption aid type.
The remaining seventy-five million (75,000,000) euros relate to the types of aid of the grant, the leasing subsidy and the subsidy for the cost of the employment created and come from the Public Investment Budget of the Ministry of Development and Investment.
The entity's participation in the total eligible costs of the investment project may be made either through own funds or external financing, provided that twenty-five percent (25%) of it does not contain any state aid, public support or benefit (Article 14(14) G.A.K.).
The same participation can also consist of external funding. The alternative ways to cover equity are:
- Increase in share or company capital from new cash contributions
- Capitalization of existing taxable reserves and retained earnings
- Use of existing taxable reserves and retained earnings
- Asset disposal
- Bank loan
Amount of subsidy
Amount of subsidy
The minimum eligible investment project size for the inclusion of investment projects in the Entrepreneurship 360 aid scheme is defined on the basis of the size of the entity, i.e:
-
large enterprises
in the amount of one million (1.000.000) euros,
- Medium enterprises in the amount of five hundred thousand (500.000) euros,
- small enterprises in the amount of two hundred and fifty thousand (250.000) euros,
- very small enterprises in the amount of one hundred thousand (100,000) euros,
- for the Social Cooperative Enterprises (JVs) of Law 4430/2016 (A'205), as well as the Agricultural Cooperatives (AC), the Producer Groups (POs) and the Agricultural Corporate Partnerships (ACPs) of Law. 4384/2016 (A' 78) in the amount of fifty thousand (50,000) euros.
Types of aid
- Tax exemption (exemption from payment of income tax on the pre-tax profits realised, which arise under the relevant tax legislation, from all the activities of the company, minus the tax of the legal person or legal entity on the profits distributed or assumed by the partners)
The investing entity may use the entire amount of the tax exemption aid to which it is entitled within fifteen (15) tax years from the year in which the right to use the benefit is established
- Subsidy, which consists in the free provision by the State of a sum of money to cover part of the supported costs of the investment project and is determined as a percentage of these costs
- Leasing subsidy, which consists in the coverage by the State of part of the leasing instalments paid for the acquisition of new machinery and other equipment. The leasing subsidy (leasing) may not exceed seven (7) years
The subsidy will be paid every six months and after each instalment of the rent is paid by the investing company
- Subsidization of the cost of employment created
Aid rates
For medium and large enterprises the aid includes all the above incentives except the grant.
The aid rates for the eligible costs of the initial investment will be granted on the basis of the intensity ceilings of the Regional Aid Map as follows:
a. For micro and small enterprises, the aid rates for all types of incentives other than grants are granted at the maximum rate laid down in the Regional Aid Map.
The grant incentive is awarded at eighty percent (80%) of the Regional Aid Charter ceiling.
Increased rate of subsidy (up to the maximum rate (100%) of the Regional Aid Charter except for the following. 2.b granted at ninety percent (90%)) is granted for investment projects which:
1. are implemented in the following areas:
- Mountainous areas, according to the classification of EL.STAT., except the municipal units that form part of the urban complex of Athens,
- areas located up to thirty (30) kilometres from the border,
- islands with a population of less than three thousand one hundred (3,100) inhabitants,
- areas affected by natural disasters, in accordance with a decision of the Governmental State Relief Committee
2. are implemented:
- at Industrial and Business Areas (IBAs), Business Parks (B.E.P.), with the exception of Intermediate Business Parks (IBAs), Technology Parks and Innovative Activity Host Centres (IACCs) and Organised Hosts of Manufacturing and Business Activities (O.I.M.E.D.) and do not relate to the modernisation or expansion of existing structures of the assisted firm,
- in buildings classified as listed
3. relate to the reopening of industrial units that have ceased operations at least two (2) years before the date of submission of the application for affiliation. The value of the fixed equipment of the industrial plant which is to be reopened must cover fifty per cent of the value of the fixed equipment (50%) at least of the supported costs of the investment project.
b. For medium and large enterprises the aid rates for all types of incentives other than grants shall be granted at eighty percent (80%) of the ceiling of the Regional Aid Map.
Increased rate of subsidy (up to the maximum rate (100%) of the Regional Aid Charter except for the following. 2.b granted at ninety percent (90%)) is granted for investment projects which:
1. are implemented in the following areas:
- Mountainous areas, according to the classification of EL.STAT., except the municipal units that form part of the urban complex of Athens,
- areas located up to thirty (30) kilometres from the border,
- islands with a population of less than three thousand one hundred (3,100) inhabitants,
- areas affected by natural disasters, in accordance with a decision of the Governmental State Relief Committee
2. are implemented:
- at Industrial and Business Areas (IBAs), Business Parks (B.E.P.), with the exception of Intermediate Business Parks (IBAs), Technology Parks and Innovative Activity Host Centres (IACCs) and Organised Hosts of Manufacturing and Business Activities (O.I.M.E.D.) and do not relate to the modernisation or expansion of existing structures of the assisted firm,
- in buildings classified as listed
3. αφορούν σε επαναλειτουργία βιομηχανικών μονάδων, που έχουν παύσει τη λειτουργία τους δύο (2) τουλάχιστον έτη πριν την ημερομηνία υποβολής της αίτησης υπαγωγής. Η αξία του πάγιου εξοπλισμού της βιομηχανικής μονάδας, η οποία πρόκειται να επαναλειτουργήσει, πρέπει να καλύπτει ποσοστό πενήντα τοις εκατό (50%) τουλάχιστον του ενισχυόμενου κόστους του επενδυτικού σχεδίου.
Special remarks
- For the North Aegean Region the maximum aid rate is set for large enterprises at 55%, for medium-sized enterprises at 65% and for small and micro enterprises at 75%. These rates are considered for the time being to be the maximum limits of the Regional Aid Map.
- For investment projects implemented in the Delignification Zones, which according to Law. 4759/2020 are the Regional Units of Florina and Kozani and the Municipality of Megalopolis, the aid rates are the maximum of the Regional Aid Charter, depending on the size of the enterprise
- For investment projects implemented in the Regional Units of Kastoria and Grevena and the Municipalities of Tripoli, Oichalia and Gortynia, the grant rate for small and micro enterprises is set at 90% and for medium and large enterprises the tax exemption rate is set at 90% of the maximum limit of the Regional Aid Charter.
Restrictions
These restrictions apply to investment projects subject to the provisions of this scheme "Entrepreneurship 360" and for a period of three (3) years from the date of the entity's application for the inclusion of its investment project.
Expenses subsidized
Expenses subsidized
Investment projects under the "Entrepreneurship 360" scheme may receive aid for eligible expenditure of regional character for initial investment, either independently or in combination with non-regional aid of the other parts of the GAC and other European Union Regulations.
Regional investment aid
Regional aid is granted in accordance with the Regional Aid Charter for:
- Initial investment:
- The investment in tangible and intangible assets in connection with the creation of a new business establishment, the expansion of the capacity of an existing business establishment, the diversification of the production of a business establishment into products that have never been produced in it, or the fundamental change of the entire production process of an existing business establishment.
- The acquisition of assets belonging to a business establishment that has closed or would have closed had it not been purchased and which is purchased by an investor unrelated to the seller and excludes a simple acquisition of the shares of a business.
- Initial investment for new economic activity:
- The investment in tangible and intangible assets related to the creation of a new business establishment, or the diversification of the business establishment's activity, provided that the new activity is not the same or similar to that previously carried out in the establishment.
- The acquisition of the assets belonging to a closed business establishment which is purchased by an investor unrelated to the seller, provided that the new activity to be carried on using the acquired assets is not the same or similar to that practiced in the business establishment prior to the purchase.
Eligible expenditure for regional aid
Tangible assets
- Construction, expansion, modernization of building facilities and special and auxiliary building facilities and the shaping of the surrounding area. Aggregate may not exceed 45% of the total eligible costs.For investment projects in the tourism sector, the rate is set at 60% for building costs, for investments in the logistics sector in 70% also for the building costs of these investment projects, while for investment projects for plant production in greenhouses the rate is 60%. Finally, for buildings that are classified as listed buildings, this coefficient amounts to 80%.
- Purchase of all or part of the existing fixed assets, such as buildings, machinery and other business establishment equipment, under the following conditions, which must be cumulative:
- the business establishment is closed,
- the purchase is made by the entity of the investment plan, which is not related to the seller of the business establishment of approx. i unless it is a small business, which is acquired by an employee of the original owner,
- the relevant transaction is carried out under normal market conditions. The cost of assets which have previously been granted or subsidized through development laws or other aid schemes prior to their purchase shall be deducted from such eligible expenditure.
- Purchase and installation of new modern machinery and other equipment, technical installations and means of transport that move within the area of the integrated unit
- Leases for financial leasing of new modern machinery and other equipment
- Modernization of special non-building facilities and mechanical facilities
Intangible assets
- Transfer of technology, purchase of intellectual property rights, licenses, patents, know-how and unproprietary know-how
- Quality assurance systems, certifications, software supply and installation and business organization systems
For large enterprises, the aided expenditure on intangible assets may not exceed thirty percent (30%) of the total aided regional aid expenditure. For SMEs the maximum percentage is fifty percent (50%).
Wage cost
The wage costs of new jobs created as a result of the implementation of the investment plan are subsidized, calculated for a period of two (2) years from the creation of each position.
Conditions for wage cost support
1. Mandatory a net increase in the number of Annual Work Units (AWUs) compared to the AWUs of the previous 12 months from the date of submission of the application for membership
2. The filling of jobs should be within 3 years from the date of completion and start of production operation
3. Each job created through the investment is maintained in the assisted establishment concerned for a period of at least five (5) years for large enterprises, at least four (4) years for medium-sized enterprises and at least three (3) years for small enterprises, from the date of first occupation.
Eligible expenditure other than regional aid:
- Consultancy fees for SMEs
Only for new small and medium-sized enterprises and up to €50,000 (up to 5% of total eligible costs)
- Costs for remediation of contaminated sites
Eligible for up to 50.000 euro (up to 5% of the total supported costs)
- Costs for waste recycling and reuse
Eligible for up to 40% of the total eligible costs of regional aid
- Vocational training expenses
Eligible for up to 10% of the total eligible costs of regional aid
- Expenses for media participation in trade fairs
Eligible for up to 10% of the total eligible costs of regional aid
- Expenditure on investment aid for SMEs
Eligible for up to 10% of the total eligible costs of regional aid
Important dates
Important dates
Date of opening of the submission of applications for investment projects: 09/01/2023
Closing date of the submission cycle: 10/04/2023
Necessary documents
Necessary supporting documents for submission
29/12/2022
Supporting documents for the application file of the application for inclusion in the "Entrepreneurship 360" aid scheme
Χρήσιμα αρχεία
Χρήσιμα αρχεία
29/12/2022
Notice of scheme
29/12/2022
Evaluation criteria
29/12/2022
Supporting documents for the documentation file of the application for inclusion in the "Entrepreneurship 360" scheme of Law 4887/2022
29/12/2022
Eligible nace code
29/12/2022
Eligible groups and categories of expenditure of investment projects (within regional aid)
29/12/2022
Eligible groups and categories of expenditure for investment projects (other than regional aid)
29/12/2022
Standard costs of doing business
18/01/2022
Draft Law "Development Law - Greece Strong Development"
02/02/2022
Map of Regional Aid
04/02/2022
Development Law 4887/2022
25/10/2022
Special areas with increased aid rates (New 25/10/2022)
Investment amount to qualify
Subsidy
Deadline
