From September 5 the applications for ‘Strengthening Tourism Investments’ of the development law

The decision to announce the aid scheme “Strengthening Tourism Investments” of the development law 4887/2022 was published in the Government Gazette.

The start date for submitting applications for investment projects in the scheme is 5 September 2022 and the closing date for the submission cycle is 5 December 2022.

The decision states in detail the following:

The purpose of the scheme is to grant aid to a wide range of tourist investments that mainly concern the creation, expansion and modernization of an integrated form of tourist accommodation throughout the Territory, with the aim of upgrading the quality of the tourist product.

The start date for submitting applications for investment projects under this regime is 05.09.2022.

The deadline for the submission cycle is 05.12.2022.

Applications are submitted through the Information System of Development Laws (PS.-AN), at the online address (https://opsan.mindev.gov.gr)

The total budget of this regime for the year 2022 amounts to 150,000,000 euros, of which 75,000,000 euros concern the type of tax exemption support.

The remaining 75,000,000 euros concern the types of support for the grant, the leasing subsidy and the subsidy for the cost of the created employment and come from the Public Investment Budget of the Ministry of Development and Investments.

Derivative Investment Plans

1. The regime includes investment projects related to:

a. Establishment or expansion of hotel units of at least four (4) stars,

b. modernization of the integrated form of hotel units that belong to or are upgraded to a category of at least three (3) stars, after five years have passed from the start of operation of the unit or from the date of completion of the previous investment in the modernization of the integrated form of the unit, as well as the modernization of non-main tourist accommodation, provided are upgraded to a category of at least three (3) stars,

c. expansion and/or modernization of an integrated form of hotel units that have ceased operation, for at least two (2) years prior to the date of submission of the affiliation application, provided that during the period of interruption the use of the building has not changed and that, through the expansion or modernization of an integrated form, are upgraded to a category of at least four (4) stars, d. establishment, expansion and/or modernization of an integrated form of Tourist Organized Camps (camping), which belong to or are upgraded to a category of at least 3 stars,

e. establishment and/or modernization of an integrated form of hotel units within designated traditional or preserved buildings, which belong to or are upgraded to a category of at least 3 stars,

f. establishment, expansion and/or modernization of complex tourist accommodation, as defined in Law 4276/2014 (A’ 155), which belong to or are upgraded to a category of at least 4 stars, which are submitted as a single investment project excluding those to be transferred or long-term lease of buildings and facilities,

g. establishment, or modernization of non-main tourist accommodation, if cumulative,

yah bear the distinctive title “hospitality hostel”,

see implemented within traditional settlements in one of the following areas:

i) mountainous areas, according to the classification of EL.STAT., except for the municipal units that are part of the urban complex of Athens,

ii) areas located up to 30 kilometers from the border;

iii) islands with a population of less than 3,100 inhabitants,

zg. are classified in category 5 keys, according to no. 12868/2018 (B’ 3119) decision of the Minister of Tourism and

zd. maintain a minimum number of 20 rooms for rent, as stated in the relevant licensing documents,

h. establishment, expansion and/or modernization of condominium hotels, as defined in Law 4276/2014, which belong to or are upgraded to a category of at least 4 stars and on the condition that the transfer or long-term lease of enhanced parts thereof takes place after the end of the long-term obligations of the investment entity, subject to sub-para. gz of paragraph c of article 25 hereof,

The above types of investment projects are included in the Activity Code Numbers of the National Nomenclature of Economic Activities, as they will be recorded, based on an administrative document, in a table posted on the website of the Ministry of Development and Investments: https://ependyseis. mindev.gov.gr/

2. The investment plans submitted must have the character of an integrated initial investment and in particular meet one of the following conditions:

a. Create a new unit.

b. Expansion of the capacity of an existing unit. c. Diversification of a unit’s output into products never produced or services never provided by it provided, for large enterprises, that the aided expenditure exceeds by at least 200% the book value of the assets reused, such as this value has been recorded in the tax year, which precedes the application for inclusion of the investment plan.

d. Fundamental change of the entire production process of an existing unit. For large enterprises, it is also required that the supported investment costs exceed the depreciation of the last 3 tax years of the assets, which are connected to the activity to be modernized. If the depreciation of the assets linked to the activity is not clearly recorded, it is considered that the above condition is not met.

3. a. For the investment plans of paragraphs b, c, e, and with regard to the hotel units of paragraphs f and h, of paragraph 1, the type and extent of the projects included in the modernization of hotel units, so that the modernization is considered complete form, are determined by the no. 43965/30-11-1994 (B’ 922) joint ministerial decision, which remains in force in accordance with paragraph 5 of article 130 of Law 4887/2022 until the issuance of the provision provided for in paragraph 1 of article 90 of the law of this, a joint decision of the Ministers of Development and Investments and Tourism.

b. For the investment projects of para. d of par. 1, the type and extent of the projects that are part of the modernization of organized tourist camps (campings), so that the modernization is considered complete, are determined by the under no. 58692/05-08-1998 (B’ 870) joint ministerial decision, which remains in force in accordance with paragraph 6 of article 130 of Law 4887/2022 until the issuance of the provision provided for in paragraph 2 of article 90 of the law of this, a joint decision of the Ministers of Development and Investments and Tourism.

4. In the investment projects of para. f of par. 1, eligible costs of the single plan may be the set of facilities included in the supported activities of para. c of para. 4 of Annex A’ of Law 4887/2022.

5. The investment plans submitted may also include additional eligible expenses of article 7 “Eligible Expenses other than Regional Aid”.

6. With this announcement, 1 investment project per entity including its affiliated businesses is included in the same Municipal Unit.

7. The application for inclusion of an investment plan for the modernization of an existing unit in accordance with the cases of par. 1, presupposes the certification of the completion of a previous investment plan of the unit that has been included in this regime.

8. The submitted investment plans are developed in each Regional Unit, subject to par. 9, and may be divided into sections exclusively and only in cases where they are inextricably linked parts of the same – single investment plan, which has the character of an initial investment, except that they are governed by a different institutional framework, or differ in the intensity of the defined aid.

In cases where the investment plan is structured in sections, the aided expenses must be completely distinct and governed by the provisions of articles 6 and 7 hereof in their entirety.

9. Investment projects located in the Regional Unit of Mykonos and from the Regional Unit of Thira, in the Municipality of Thira, except for the Municipal Community of Thira, are not subject to this regime.

The decision also provides:

– Eligible regional aid costs

– Eligible expenses other than regional aid

– Ineligible expenses

– Types of Reinforcements

– Intensities and amounts of regional aid

– Intensities and amounts of aid other than regional aid

– Maximum amounts of aid granted

– Beneficiaries and exempted from aid

– Financial scheme of investment projects

– Minimum amount of investment projects

– Conditions for regional aid

– Supporting documents for submitting the application

– Evaluation content

– Assessment instruments and process

– Control of investment plans

– Amendments to investment plans

– Completion of investment projects and start of production

– Content and payment of subsidies

– Obligations of assisted entities

– Monitoring compliance with long-term obligations.