NEW STATUS OF DEVELOPMENT LAW 4887/2022 "Strengthening Tourism Investments"
Aug 9th 2022 1:55pm
The "Strengthening Tourism Investments" Status of the Development (Investment) Law 4887/2022 was published by the Ministry of Development and Investments. [here]
The participation applications last from 05.09.2022 with the closing date of the submission cycle on 05.12.2022. The evaluation is comparative (no order of priority) while the results of the Evaluations are expected to be immediate (45 days from the end of the Submission cycle).
The program amounts to 150 million Euros and subsidizes investment projects that aim to upgrade the quality of the tourism product and belong indicatively to the following sectors:
Expenditures are subsidized for Building Projects, Landscaping, Purchase of Machinery and Hotel/Mechanical/other Equipment - Furniture, etc. Intangible costs, salary costs as well as consulting fees and studies are also supported (eligible costs are described below).
The subsidy rates follow the New Support Charter (2022 - 2027), where small/very small businesses are increased by 20%, while medium-sized businesses are increased by 10%. The maximum Support can be up to 75%, either as a grant or as a tax exemption (subject to conditions).
The granted incentives are the following:
Investment projects start from 100,000 euros (net value) depending on the size of the business. The object of each investment must concern the Creation of a new unit, or the Expansion/Modernization of an integrated form existing unit.
The evaluation is based on specific quantitative criteria (discussed below) where a proposal must receive at least 50% to be included in the tables to be evaluated.
New Additions to the Development Law
The New Law includes new procedures, such as:
The Investment Center (Business Consultants - NSPR Consultants) provides complete and comprehensive support, from the first eligibility check, the estimation of the expected score (pre-assessment) as well as the preparation - submission of an excellent business plan which will yield the maximum possible score. With over 10 years of experience, we fully undertake the integration and support of businesses.
See successful examples of Approved Businesses from the Investment Center for the Development Law since 2010.
☆More than 10 years of experience in business Upgrade support ☆
*NSPR Consultants: PEP, OAED, Tourism NSPR, Leader, Development
The high success rates in recent sponsored programs are the guarantee of the excellent support from our firm.
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