The aim of the scheme is to grant aid to a wide range of tourism-related investment mainly in the creation, expansion and modernization of an integrated form of tourist accommodation in the whole of the Territory, with the aim of upgrading the quality of the tourist product.

The covered investment projects in:

a. establishment or expansion of hotels of four (4) at least star

b. modernization integrated form of hotels owned or upgraded to a category three (3) at least a star, after five years from the beginning of the unit or from the date of completion of the previous investment to modernize the integrated form of the unit, as well as modernisation of non-main tourist accommodation, if upgraded to a category three (3) at least a star.

c. expansion and modernization of an integrated form of hotel units that have ceased operations, with the condition that the interval has not been a change of use of the building, and that, through the expansion or modernisation of an integrated form of being upgraded to a category four (4) at least star.

d. establishment, expansion and modernization of an integrated form of tourism organized camping (camping), which is owned by or upgraded to a category three (3) at least a star.

e. establishment and modernization of an integrated form of hotel units within a designated traditional or listed buildings, which are owned or upgraded to a category three (3) at least star

f. establishment, expansion and modernization of complex tourist accommodation, as defined in law. 4276/2014 (A 155), deposited as single projects, not including the transfer or long-term rental of buildings and facilities.

g. establishment and modernization of non-main tourist accommodation, where,

– bear the distinctive title "house of hospitality",

– implemented within traditional settlements in one of the following areas: (i) the mountainous regions, in accordance with the classification of EL.STAT., except the municipal units that constitute part of the agglomeration of Athens, ii) areas that are located at a distance of up to thirty (30) kilometres from the border, (iii) the islands with a population of less than three thousand one hundred (3.100) residents,

– classified in a category five (5) keys, in accordance with the number. 12868/2018 (B 3119) decision of the Minister of Tourism and

– maintain a minimum number of twenty (20) rooms to let,

– establishment, expansion and modernization of hotels, condo hotels), as defined in law. 4276/2014, provided that the transfer or long-term lease of assisted these sections takes place after the expiry of the maintenance of long-term obligations of the operator of the investment

1. Beneficiaries

Beneficiaries of the aid are the operators of investments that are established or have a branch in the Greek Territory at the time of commencement of operations of the investment project and have one of the following forms:

a. Trading company

b. cooperative

c. Social Cooperative Enterprises (Cc.P.Et seq.), Rural Cooperatives (AS), Producer Groups (Om. E.) Producer Organisations (The.E.), Urban Cooperatives, Rural Partnerships (A.E.P.)

d. under foundation or the merging companies, with the obligation to have completed the procedures publicity prior to the commencement of the investment project.

e. joint ventures engaged in commercial activity

f. public and municipal enterprises and subsidiaries

where:

– have not been assigned to serve a public purpose

– has not been assigned by the state exclusively to these services

– sponsored function with public funds for the period of maintenance of long-term liabilities

2. Conditions

The investment plans for regional aid, falling into the schemes of the new development law, you must have completed the initial investment and, in particular, to meet one of the following conditions:

a. Creation of a new unit.

b. Expansion of the capacity of an existing establishment.

c. Diversification of the output of an establishment into products not produced or services that have not been provided with the condition that the assisted costs exceed two hundred percent (200%) of at least the book value of the assets that are reused, such as the value of this has been recorded in the fiscal year preceding the application for inclusion of the investment project.

d. A fundamental change in the overall production process of an existing establishment. For large enterprises, it is also required that the aided investment costs exceed the depreciation of the assets, which are associated with the activity to be modernised and made during the three (3) previous fiscal years. If it is not reflected clearly related to the activity depreciation, shall be deemed not to have met the above requirement.

The minimum selectable amount of an investment project for the inclusion of investment projects in the present aid scheme is defined based on the size of the organisation, namely:

– for large companies, in the amount of one million (1,000,000) euro

– for medium-sized enterprises, in the amount of five hundred thousand (500,000 of euro,

– for small business, in the amount of one hundred and fifty thousand (150,000 people) euro

– for very small enterprises, in the amount of one hundred thousand (100.000) euro

– for the Social Cooperative Enterprises (Cc.P.Et seq.) N. 4430/2016(A 205), as well as the Rural Cooperatives (AS), Producer Groups (BMD) and Rural Partnerships (IBP) of N. 4384/2016 (A’ 78) in the amount of fifty thousand (50,000 euro).

3. Eligible Costs

The eligible costs of investment projects for which it is granted regional aid, is the following:

a. Investment costs in tangible assets and, in particular costs for: construction, expansion and modernization of buildings and landscaping.

b. Purchase of all or part of existing fixed assets, such as buildings, machinery and other equipment of an establishment, under certain conditions.

c. Purchase and installation of new machinery and other equipment, including technical installations and means of transport that move within the area of εντασσόμενης unit.

d. Lease payments of financial lease (leasing) of new machinery and other equipment.

e. The modernisation of special facilities which are not related to buildings, and plant engineering.

f. Investment costs in intangible assets.

g. The wage of the new jobs that are created as a result of realization of the investment project is calculated for two (2) years from the creation of each position. The cost of wages is eligible only on its own merits.

In addition and complementary to the regional aid, the beneficiaries of the status of business plans may be strengthened, and for the following categories of eligible costs, except for regional aid:

a. The costs for advisory services to Smes

b. the costs for energy efficiency measures

c. the costs for the cogeneration of high performance from A.E.E.

d. the costs for the production of energy from renewable sources

e. the costs for the installation of efficient systems, district heating and cooling

f. the costs for remediation of contaminated sites

g. the costs for recycling and reuse of waste

the. the costs for training

th. the costs for Sme participation in trade fairs of the and

I. the costs for the recruitment of disadvantaged workers and workers with disabilities

4. Amounts and rates

The maximum percentage of state aid by Region and size of the company is as follows:

Region
Small
Medium
Large
Thrace, East Macedonia And Central Macedonia, Thessaly, Epirus North Aegean
70%
60%
50%
West Macedonia, Central Greece, The Peloponnese, Crete Ionian Islands
60%
50%
40%
South Aegean
50%
40%
30%
Attica: South-Central Area Of Piraeus And Islands
45%
35%
25%
Attica: Western Sector
35%
25%
15%

5. Quotas costs

For investment projects in the tourism sector, the coefficient for the building expenses is formed at 60%. The above rate is eighty percent (80%) for investment projects implemented in buildings, which are labeled as listed.

For large companies, the assisted expenditure for intangible assets may not exceed thirty percent (30%) of the total of the costs of regional aid. For Smes, the maximum rate is fifty percent (50%).

For more information, request a telephone appointment by pressing the button below, and a qualified economist of our company will contact you. 

Telephone appointment

Read more