Subsidies and grants – Funding programmes in Greece 2011–2012
Various funding opportunities exist in Greece, which are outlined below. The general Investment Law 3908/2011 constitutes the new basis for the promotion/subsidisation of investments in Greece. In addition, however, there are numerous further national as well as regional funding opportunities which can be utilised, on the one hand, for various sectors such as technology, agriculture, tourism. On the other hand, there are also funding options, e.g. for small and medium‑sized enterprises, support through payment of social security contributions for unemployed employees, training e.g. in the field of new media, internet etc., the settlement of entrepreneurs in the Innovation Zone of Thessaloniki, modernisation of manufacturing companies, etc.
Subsidies/funding are granted through various procedures, e.g. through direct payment of money as non‑repayable grants, in the form of tax subsidies and tax relief, or, for example, by covering costs such as the employer’s share of social security contributions, etc.
Companies that plan to commence an activity in Greece in the foreseeable future should enquire about possible funding opportunities before establishing a company in Greece. If you have questions on funding opportunities, subsidies, funding programmes, subsidisation, etc. in Greece, please feel free to contact us for further information.
Overview of Current Funding Opportunities in Greece
| Designation | Purpose | Area | Volume / Subsidy | Deadline |
| Investment Law 3908/2011 – General Investment Plans | Promotion of economic development, technological maturity, competitiveness, and peripheral cohesion. | All of Greece | From €200,000 / up to 50% | April & October of each year |
| Investment Law 3908/2011 – Large Investment Plans | Promotion of economic development, technological maturity, competitiveness, and regional cohesion. | All of Greece | From €50,000,000 / up to 40% | Throughout the entire year |
| Increasing the Value of Agricultural Products – Measure 123 A | Increasing the value of agricultural products by improving their processing and trade. | All of Greece | Up to €10,000,000 / up to 65% | 7/10/2011 – 28/12/2011 |
| Leader 123 – Increasing the Value of Agricultural and Forest Products | Increasing the value of agricultural and forest products. | Based on relevant calls by prefecture (Axis 4) | Up to €500,000 / up to 65% | Based on relevant calls by prefecture (Axis 4) |
| Leader 311 – Diversification into Non-Agricultural Activities | Diversification into non-agricultural activities. | Based on relevant calls by prefecture (Axis 4) | Up to €600,000 / up to 65% | Based on relevant calls by prefecture (Axis 4) |
| Leader 312 – Support for the Creation and Development of Very Small Enterprises | Support for the creation and development of very small enterprises. | Based on relevant calls by prefecture (Axis 4) | Up to €300,000 / up to 65% | Based on relevant calls by prefecture (Axis 4) |
| Leader 313 – Encouragement of Tourist Activities | Encouragement of tourist activities. | Based on relevant calls by prefecture (Axis 4) | Up to €600,000 / up to 65% | Based on relevant calls by prefecture (Axis 4) |
| Modernization of Commercial Road Transport by Land | Modernization of the operations of land transport companies and establishment of new companies in the sector (KAD 49.4) | All of Greece | Up to €180,000 / up to 70% | Pre-announcement |
| Alternative Tourism | Development of alternative tourist activities, provision of comprehensive services to specific visitor groups & tourist development of local, natural and cultural resources. | All of Greece | Up to €400,000 / up to 45% | 15/09/2011 – 30/12/2011 (Extension) |
| E-SECURITY | Strengthening the trust of companies in new digital media and digital security. | East Macedonia – Thrace, North Aegean, West Greece, Epirus, Thessaly, Ionian Islands, Crete, Peloponnese, West Macedonia, South Aegean | Up to €70,000 / up to 70% | Until exhaustion of the budget for each reference district |
| Plan to Support Entrepreneurial Initiatives of Unemployed and Young Entrepreneurs (in Startup Phase) | Support for the entrepreneurial activity of new entrepreneurs and the unemployed. | All of Greece, except the regions of Central Greece & North Aegean | Up to €35,000 / 100% | 15/11/2011 – 15/1/2012 |
| Overall Intervention Plan to Support Companies and their Employees | Support for companies and their employees through consulting, training, and granting incentives to support access to and encourage participation in the labor market. | All of Greece, except the regions of Central Greece & North Aegean | Up to €35,000 / 100% | 15/11/2011 – 15/1/2012 |
| Digi – Mobile | Support for existing companies for the development and use of innovative applications in “smart” devices for mobile communication and Tablet PCs. | All of Greece | Up to €10,000 / up to 70% | Until exhaustion of the budget available per district |
| Preservation of 10,000 Jobs in Hotel Companies with Continuous Operation | Preservation of 10,000 jobs by subsidizing a portion of the employer contributions in hotel companies with continuous operation. | All of Greece | 40% of the employer’s share of insurance contributions for a period of twelve (12) months | Awaiting Proclamation |
| Program to Support Processing Small and Medium-Sized Enterprises | Modernization of processing companies, purchase of raw materials, etc., with a focus on shipyard and shipping zones. | All of Greece | Up to 60% | Awaiting Proclamation |
| Special Economic Support for Companies | Support for 20,000 companies regarding their wage costs to maintain their jobs. | All of Greece, except the regions of Central Greece & North Aegean | Up to 50% / up to €10,000 | Awaiting Proclamation |
| Increasing the Value of Forest Products – Measure 123 B | Increase of added value and competitiveness of forest products. | Awaiting Proclamation | Up to €2,000,000 / up to 65% | Awaiting Proclamation |
| Fisheries Operational Program – Measure 2.1 “Aquaculture” | Establishment of new and modernization of existing aquaculture units. | All of Greece | Up to 60% | Awaiting Proclamation |
| Fisheries Operational Program – Measure 2.3 “Trade & Processing” | Establishment, modernization, and relocation of companies for processing and distribution of fishery products. | All of Greece | Up to 60% | Awaiting Proclamation |
| Incentives for Attracting & Establishing Companies in the Thessaloniki Innovation Zone | Settlement of companies in the Thessaloniki Innovation Zone. | Thessaloniki Innovation Zone | Awaiting Proclamation | Awaiting Proclamation |
| Digital Value | Support for entrepreneurial activities of technological innovativeness and implementation of innovative investment plans, with the aim of developing new value-added services. | Awaiting Proclamation | Up to €5,000,000 / up to 60% | Awaiting Proclamation |
| Informatics-Egnatia II | Investments by ICT sector companies in the districts through which the Egnatia Road axis runs, for the realization of business plans related to the development of new products. | Awaiting Proclamation | Up to €200,000 / up to 50% | Awaiting Proclamation |
| I Modernize in Tourism | Upgrade of qualitative and operational characteristics of companies related to tourist services. | Awaiting Proclamation | Up to 45% | Awaiting Proclamation |
| I Cooperate and Introduce Innovations in Tourism | Support for private investment plans for the purpose of creating partners and networks (Clusters). | Awaiting Proclamation | Up to 45% | Awaiting Proclamation |
| Strengthening Demand (ICT for Market) | Integration of modern technologies into the production process of companies. | Awaiting Proclamation | €100,000 – €5,000,000 | Awaiting Proclamation |
| Strengthening Supply (ICT for Growth) | Development of innovative services and products. | Awaiting Proclamation | €100,000 – €5,000,000 | Awaiting Proclamation |
| Support for the Use of Business Applications | Purchase of electronic services compatible with tax requirements via a special coupon. | Awaiting Proclamation | €2,000 | Awaiting Proclamation |
| Action to Reduce Supply Chain Costs | Support for companies for the development and realization of complete IT systems for the supply chain. | Awaiting Proclamation | Up to €250,000 / up to 45% | Awaiting Proclamation |
| Upgrading Existing Industrial and Business Areas (BEPE) | Improvement of company competitiveness by strengthening the advantages resulting from their establishment in locations with suitable infrastructure. | Awaiting Proclamation | Awaiting Proclamation | Awaiting Proclamation |
(Status: December 2011. All information is provided without reservation or guarantee.)