Large Investment Regime

a. Commercial company,

b. Cooperative,

c. Social Cooperative Enterprises (SCEs), Agricultural Cooperatives (ACs), Producer Groups (PGs), Urban Cooperatives, Agricultural Corporate Partnerships (ACPs),

d. . Companies under formation or merger, with the obligation to have completed publicity procedures before the commencement of the investment project's operations,

e. Joint ventures engaged in commercial activity,

f. Public and municipal enterprises and their subsidiaries, provided that:

• they have not been assigned the provision of a public service,
• the provision of services has not been exclusively assigned to them by the state,
• their operation is not subsidized by public funds for the duration of the long-term obligations.

Excluded from aid and inclusion in this regime are:

• undertakings against which a recovery procedure for aid is pending at the time of submitting the investment project application (Deggendorf principle),
• undertakings in difficulty, if at least one of the conditions set out in paragraph 18 of Article 2 of the GBER is met. The assessment of difficulty is carried out at both the level of the applicant undertaking and the group of undertakings,
• undertakings which, during the two (2) years prior to the submission of the aid application:
• Have relocated the business establishment where the initial investment for which aid is requested is to be made, or
• refuse to commit not to relocate the aforementioned business establishment for a period of two (2) years after the completion of the initial investment,
• undertakings implementing investment projects carried out on the initiative and on behalf of the State, based on a relevant contract for project execution, concession, or service provision.

• Creation of a new establishment (new unit).
• Expansion of the production capacity of an existing establishment (unit).
• Diversification of the production of an existing establishment (unit) into products never before produced or services never before provided by it, provided that the eligible expenditure exceeds by at least two hundred percent (200%) the book value of the assets being reused, as recorded in the tax year preceding the application for inclusion of the investment project.
• Fundamental change in the overall production process of an existing unit. For large enterprises, it is also required that the eligible investment expenditure exceeds the depreciation of the last 3 tax years of the assets linked to the activity to be modernized. If the depreciation of assets linked to the activity is not clearly reflected, the above condition is deemed not to be met.

• Tax exemption,
• Grant,
• Financial leasing subsidy,
• Subsidy for the cost of job creation,
• Incentive for fast-track licensing,
• Incentive for providing loans guaranteed by the Hellenic Development Bank S.A. or the European Investment Bank (EIB).

For large enterprises, the aid includes the above incentives, excluding grants.

The investment body, in order to avoid revocation of the inclusion decision, must implement at least 10% of the eligible cost of the investment project, as approved by the inclusion decision, within twenty-four (24) months from the publication of the summary of the inclusion decision.

The investment project is completed with the implementation of its physical and financial scope and the commencement of the investment's productive operation, within the deadline set in the inclusion decision, which cannot exceed three (3) years from the date of publication of the summary of the inclusion decision.

The deadline for completing the investment project, as stipulated in the inclusion decision, may be extended once by up to two (2) years, provided that the following conditions are cumulatively met:

a. Electronic submission of the relevant request before the expiry of the completion deadline, as originally defined in the inclusion decision,

b. implementation of fifty percent (50%) or sixty-five percent (65%) of the physical and financial scope.

The above completion deadline includes any horizontal statutory extensions.

Tangible assets

• The construction, expansion, and modernization of building facilities, as well as special and auxiliary building installations, and constructions to ensure accessibility for people with disabilities and people with reduced mobility, as well as landscaping of the surrounding area. These expenses cumulatively cannot exceed forty-five percent (45%) of the total eligible regional expenditure. The above percentage is set at seventy percent (70%) for investment projects in third-party supply chain management transport services (logistics – activity code: 52.29.19.03) and eighty percent (80%) for investment projects implemented in buildings designated as preserved.

These expenses are also eligible when incurred on constructions which, at the time of submitting the application for inclusion in the aid schemes herein, have been subject to Law 1337/1983 (A' 33) or Law 4178/2013 (A' 174) or Law 4495/2017 (A' 167). The commencement of aid payments cannot take place if the approved physical scope of the investment includes constructions for which the aforementioned legalization or regularization process has not been completed.

• The acquisition of all or part of existing fixed assets, such as buildings, machinery, and other equipment of a business establishment (under conditions)
• The purchase and installation of new modern machinery and other equipment, including technical installations and transport means operating within the premises of the integrated unit.
• The lease payments for financial leasing of new modern machinery and other equipment, the use of which is acquired, provided that the financial leasing contract stipulates that the equipment becomes the property of the lessee at the end of the contract.
• The modernization of special installations not related to buildings, and mechanical installations.

Intangible assets

• Technology transfer, through the acquisition of intellectual property rights, exploitation licenses, patents, know-how, and unpatented technical knowledge,
• quality assurance and control systems, certifications, procurement and installation of software, and business organization systems.

The expenses in the above cases must cumulatively meet the following conditions:

1. to be used exclusively in the business establishment receiving the aid and to remain linked to the project for which the aid is granted, for the duration of the long-term obligations of paragraph b of Article 25,
2. to be included in the depreciable assets of the undertaking,

• to be purchased at market terms from third parties unrelated to the buyer.
• must be included in the assets of the undertaking receiving the aid and remain linked to the project for which the aid is granted for at least 5 years (3 years for SMEs).

For large enterprises, eligible expenditure for intangible assets cannot exceed thirty percent (30%) of the total eligible expenditure for regional aid. For SMEs, the maximum percentage is fifty percent (50%).

Wage Costs

The wage cost of new jobs created as a result of the investment project is calculated for two (2) years from the creation of each position. The aforementioned wage cost is an eligible expense only independently and not in combination with cases A and/or B.

Conditions for wage cost aid:

• The investment project results in a net increase in the number of employees, reflected in Annual Work Units (AWUs) at the business establishment and, correspondingly, in the undertaking, compared to the AWUs of the preceding twelve-month period from the date of submission of the inclusion application,
• the filling of all job positions takes place within three (3) years from the date of completion and commencement of productive operation of the investment, and
• each job created through the investment is maintained at the specific aided establishment for a period of at least five (5) years for large enterprises, at least four (4) years for medium-sized enterprises, and at least three (3) years for small enterprises, from the date of its initial filling.

• Expenditure for consulting services to new SMEs
• Expenditure for energy efficiency measures, excluding energy efficiency measures in buildings,
• Expenditure for the installation of efficient district heating and/or cooling systems
• Expenditure for the remediation of environmental damage, the restoration of natural habitats and ecosystems
• Expenditure for the efficient use of resources and for supporting the transition to a circular economy
• Expenditure for vocational training
• Expenditure for SME participation in trade fairs
• Expenditure for hiring disadvantaged workers
• Expenditure for innovation in SMEs
• Expenditure for process and organizational innovation for SMEs and Large Enterprises
• Research and development expenditure
• Expenditure for high-efficiency cogeneration from RES under paragraph 8, and energy production from Renewable Energy Sources
• Expenditure for investment aid to SMEs.

Aid intensities for eligible expenditure of initial investments are granted as follows:

• For micro, small, and medium-sized enterprises, aid intensities for all types of incentives, except grants, are granted at the maximum rate of the Regional Aid Map. The grant incentive is granted at eighty percent (80%) of the maximum limit of the Regional Aid Map. Specifically for investment projects belonging to special aid categories, the grant incentive is granted at one hundred percent (100%) of the maximum limit, except for case b, which is granted at ninety percent (90%).
• For large enterprises, aid intensities for all types of incentives are granted at eighty percent (80%) of the maximum limit of the Regional Aid Map. Specifically for investment projects belonging to special aid categories, the above incentives are granted at one hundred percent (100%) of the maximum limit, except for case b, which is granted at ninety percent (90%).

Increased aid intensities are granted for investment projects implemented in:

• Mountainous areas, according to ELSTAT's categorization, excluding municipal units that form part of the urban complex of Athens,
• areas located up to thirty (30) kilometers from the borders,
• islands with a population of less than three thousand one hundred (3,100) inhabitants,
• buildings designated as preserved.

The amount of aid granted to each investment project under this regime does not exceed the limit of twenty million (20,000,000) euros, subject to Article 4 of the GBER.

For inclusion in this regime, a minimum eligible cost of the investment project is required, amounting to fifteen million (€15,000,000) euros.

Each entity participates in the cost of the investment project either with own funds or with external financing (or a combination thereof).

State aid, public support, or provision must not be included in twenty-five percent (25%) of the aided cost of the investment project.

The start date for submitting applications for inclusion of investment projects in this regime is April ¹⁷, 2026, and the deadline is June 30, 2026.