500 million Euro Budget signed by the Minister of Development

You are reading post 500 million Euro Budget signed by the Minister of Development

Two new proclamations of Development Law 4399/2016, with a total budget of 500 million euro, were signed by the Minister of Development & Investments, Mr. Adonis Georgiadis.

The invitations regard the schemes “General Entrepreneurship” and “Entrepreneurship of Very Small and Small Businesses”.

The investments are expected to rise at least up to 1,5 billion euros, taking into consideration that one euro from Development Law leverages -at an average rate- three euros.

In a more detailed view:

“General Entrepreneurship”

The total budget of the current scheme amounts to 350 million euros, from which 140 million euros regard grants, subsidization of leasing, and cost grants of the occupation under creation, while 210 million euros correspond to tax exemptions.

Minimum amount of investment plans

The minimum eligible investment amount for the inclusion of investment plans in the present enforcement scheme is defined based on the size of the entity, viz:

500. For large-scale businesses, the amount of 500.000 euro
501. For medium-scale businesses and co-operatives, the amount of 250.000 euro
502. For small-scale businesses, the amount of 150.000 euro
503. For very small-scale businesses, the amount of 150.000 euro

“Entrepreneurship of very small-scale and small-scale Businesses”

The total budget of the current scheme amounts to 150 million euros, from which 140 million euros regard grants, subsidization of leasing, and cost grants of the occupation under creation, while 10 million euro regard tax exemptions.

Minimum amount of investment plans

The minimum eligible investment amount for the inclusion of investment plans in the present enforcement scheme is defined based on the size of the entity, viz:

150. For small-scale businesses, the amount of 150.000 euro
151. For very small-scale businesses, the amount of 100.000 euro

Finally, it is noted that the deadline for the application submission initiates within the present week and will last until the 31^st of July.