{ "id": 537, "date": "2022-03-22T16:12:31", "date_gmt": "2022-03-22T14:12:31", "guid": { "rendered": "https:\/\/humboldt-sa.gr\/?page_id=537" }, "modified": "2022-09-13T21:56:06", "modified_gmt": "2022-09-13T19:56:06", "slug": "%ce%b1%ce%bd%ce%b1%cf%80%cf%84%cf%85%ce%be%ce%b9%ce%b1%ce%ba%cf%8c%cf%82-%ce%bd%cf%8c%ce%bc%ce%bf%cf%82", "status": "publish", "type": "page", "link": "https:\/\/humboldt-sa.gr\/en\/%ce%b1%ce%bd%ce%b1%cf%80%cf%84%cf%85%ce%be%ce%b9%ce%b1%ce%ba%cf%8c%cf%82-%ce%bd%cf%8c%ce%bc%ce%bf%cf%82\/", "title": { "rendered": "Development Law 4877\/2022 \u2013 Greece Strong Growth" }, "content": { "rendered": "

\u00a0<\/p>\n

The Greek Development Law 4887\/2022 of the Ministry of Development and Investments with the Title \u201cDevelopment Law \u2013 Greece Strong Growth\u201d defines the conditions for inclusion as well as the framework for establishing schemes for state aid granting.\u00a0<\/span><\/p>\n

The Law introduces thirteen (13) new aid schemes which will allow the business community to design, develop and implement its initiatives with significant and modern forms of investment in all sectors of the Greek economy. Three fixed cycles for the submission of investment proposals are included, with a timeframe of maximum 60 days from the submission of an investment plan until its evaluation and inclusion in the corresponding scheme.\u00a0<\/span><\/p>\n

Conditions for State Aid\u00a0<\/b><\/p>\n

Investment plans and projects that fall under current aid schemes must be of an integrated initial investment nature according to Article 2, Point 49 of Commission\u2019s (EU) General Exemption Regulation (GER) 651\/2014 and in particular meet one of the following conditions:<\/span><\/p>\n

    \n
  1. Creating a new Unit<\/span><\/li>\n
  2. Expansion of existing Plant Capacity<\/span><\/li>\n
  3. Production\u2019s Diversification for Products or Services that have not been ever produced by the Unit, provided that the eligible costs exceed by at least two hundred percent (200%) the book value of the reused assets recorded in the fiscal (tax) year preceding the application for investment project\u2019s inclusion to the beneficial provisions of the new Development Law.<\/span><\/li>\n
  4. Fundamental Change of Unit\u2019s entire Production Process, provided that, the eligible costs must exceed the depreciation during the three (3) previous fiscal (tax) years of those assets related to the activity that is to be modernized.<\/span><\/li>\n<\/ol>\n

    If the depreciation related to the above activity is not clearly reflected by the submitted financial data, this significant condition is not satisfied.<\/span><\/p>\n

    Investment Projects of all sectors of the economy are eligible to fall under the beneficial provisions of Law 4887\/2022. Exceptions are made for Investments of Business Activity Codes included in the “National Nomenclature of Economic Activities Business Activity Codes 2008”, as well as Investment Projects that are implemented in one of the following:<\/span><\/p>\n

      \n
    1. The steel sector<\/span><\/li>\n
    2. The synthetic fibers sector\u00a0<\/span><\/li>\n
    3. The coal sector<\/span><\/li>\n
    4. The shipbuilding sector<\/span><\/li>\n
    5. The production, distribution and energy infrastructure sector<\/span><\/li>\n
    6. The transportation sector (and related infrastructures)<\/span><\/li>\n<\/ol>\n

      Beneficiaries\u00a0<\/b><\/p>\n

      The eligibility of Companies that fall under the beneficial provisions of the new Law is determined by specific criteria, among which it is a prerequisite that the Company shall be established in Greece or have a branch in the Greek Territory at the time of the Investment Project\u2019s initiation.\u00a0<\/span><\/p>\n

      Given the above, below are the forms of eligible Companies:<\/span><\/p>\n