New Development Law
The New Development Law 4399/16 is the main financial tool for the establishment, expansion, diversification of production and fundamental change of the entire production process of enterprises. It also strengthens the acquisition of the assets of a business establishment that has ceased its operation. The purpose of the law is to promote balanced development with respect for environmental resources, technological upgrading, the development of a new extrovert national identity (branding), the improvement of competitiveness in sectors of high value added and knowledge intensity, the move to the value production chain to produce more complex products, the offer of better services and ultimately the better securing of the country’s position International Division of Labor.
The Beneficiaries of the aid under the Development Law schemes are companies established or have a branch in Greek territory at the time of commencement of the investment project and have one of the following forms:
・ Sole trader
・ S.A.C., S.A., O.P., A.C.A.
・ Companies established or under merger
・ Consortia subject to registration in the GFCM
・ Public and municipal enterprises and their subsidiaries
Undertakings whose eligible investment projects exceed EUR 500 000 and which are subject to the aid schemes at present shall be required to take the legal form of a trading company or cooperative before the start of operations of the investment project.
Investment projects > 300.000€, must keep C category Books
They shall not be considered as beneficiaries and shall be exempted from the payments of the schemes at present:
(a) firms in difficulty as defined in paragraph 18 of Article 2 C.A.K. (Article 1(1)) 4 case c.G.A.K.),
(b) undertakings which have ceased the same or similar activity within the European Economic Area in the two years preceding the submission of their application for regional investment aid or which, at the time of their application for aid, have planned to cease that activity within a maximum period of two (2) years following the completion of the investment project for which they have applied for aid in the area concerned (Article 11) 3 case d),
(c) undertakings implementing investment projects carried out on the initiative and on behalf of the State, under a relevant contract for the execution of a project, concession or provision of services.
The eligible costs are buildings, production equipment, hotel equipment, etc.
The NSRF (Corporate Framework Development Pact) is the main strategic plan for the development of the country with the assistance of substantial resources coming from the European Union’s Structural and Investment Funds (ESI Funds).
The implementation of the NSRF seeks to address the structural weaknesses of the country which have contributed to the economic crisis and the economic and social problems which it has created. The NSRF is also called upon to help achieve the national objectives by promoting development.
・ smart, with more effective investment in education, research and innovation,
・ sustainable, thanks to the decisive transition to a low-carbon economy, and
・ inclusive, with particular emphasis on job creation and poverty reduction.
The development vision of the NSRF
“Contributing to the regeneration of the Greek economy by reforming and upgrading the productive and social groups of the country and creating and maintaining sustainable jobs, leading to extrovert, innovative and competitive entrepreneurship and guiding the strengthening of social cohesion and the principles of sustainable development.”
Operational Programs are multiannual programs and are linked to sectors and/or specific geographical regions at international, national or local level.
The NSRF architecture provides:
・ 7 Sectoral Operational Programs (including Rural Development and Fisheries Programs) concerning one or more sectors and having as their geographical scope the whole country, and
・ 13 Regional Operational Programs (RFOs), one for each of the 13 Regional Administrative Regions in the country, including regional measures.
The Programs were prepared by the competent authorities of the country in cooperation and consultation with the socio-economic partners and approved by the European Commission.
Each Program includes strategic priorities and indicative actions that shape its contribution to the achievement of the objectives of the NSRF and thus to the implementation of the European Union strategy for smart, sustainable and inclusive growth.
Our consultancy maximizes your chances to join the subsidized program that suits you, whether you are a new business, an existing business, or a freelance professional.
We are undertaking the inclusion of businesssin subsidized programs and integrated management of approved investment proposals (Development Law, NSRF, Rural Development Program, European Programs such as Horizon 2020 and Interreg, etc.).
Our services include:
integrated program management and ensuring that the company successfully completes its investment projects.
comprehensive advisory support to optimize the utilization of each program.
a technoeconomic study to be carried out on the basis of a subsidized program
collection and checking of supporting documents, preparation and submission of an investment folder
support of investment at all stages.
integrated management until final disbursement of the funding.
presence on the site in the audits of management bodies.
Our consultancy is able to help you select programs that are ideally suited to your business needs and to make the most of them. We have experience and great success records in submitting and managing investment projects in European and national funding programs.
We are available to inform you for the financial programs available for the implementation of your investment projects.