Factsheet: Investment Law

Investment Law

Key Information
Full name of Instrument & Measure (English): 
Law 4146/2013 “Creation of a Development Friendly Environment for Strategic and Private Investments”
Full name of Instrument & Measure (native language): 
Νόμος «Διαμόρφωση Φιλικού Αναπτυξιακού Περιβάλλοντος για τις Στρατηγικές και Ιδιωτικές Επενδύσεις και άλλες διατάξεις» (Ν. 4146/2013)
The Investment Law was voted first in 2004 (Law 3299/2004), revised in 2011 (Law 3908/2011) and again in 2013. The current framework is Law 4146/2013. The Law distinguishes the following Investment categories: 1. General Entrepreneurship, which targets all enterprises irrespective of sector 2. Regional Cohesion, which targets investors with projects that address local needs or capitalise on local competitive advantages 3. Technological Development, which targets enterprises that invest in innovation and want to upgrade their technology infrastructure 4. Youth Entrepreneurship, which targets investors from 20 to 40 years old 5. Large Investment Plans, which targets investments with a budget of at least 50,000,000 Euro (Fifty million Euro) 6. Integrated, Multi-Annual Business Plans, which targets companies legally formed at least five years previous to application, to implement integrated multi-annual (2-5 year) business plans with a budget of at least 2,000,000 Euro in total (Two million Euro) 7. Partnerships and Networking , which targets partnerships and networking configurations or clusters. These clusters shall be comprised of at least five enterprises in the Region of Attica and the Thessaloniki Prefecture and of at least three enterprises in other prefectures, operating in the form of a consortium. The Investment Law provides the following types of aid to investors: a. Tax relief—Tax relief comprising exemption from payment of income tax on pre-tax profits which result, according to tax law, from any and all of the enterprise’s activities. b. Subsidy—Gratis payment by the State of a sum of money to cover part of the subsidised expenditure of the investment. c. Leasing subsidy—Includes payment by the State of a portion of the installments paid under a leasing agreement executed to acquire new machinery and / or other equipment d. Soft loans by ETEAN (National Fund for Entrepreneurship and Development). The amount to be covered by a bank loan may be funded by soft loans from credit institutions that cooperate with ETEAN enterprises. The aid referred to above shall be aggregated for the purpose of determining the total amount of aid allocated to the investment project. In this case the benefit of the funding above is included in total aid, which may not exceed the limits delineated on the Regional State Aid Map (between 15 - 50%, depending on the size of the company and the prefecture/zone of investment).
The aim of the Investment Law is to increase liquidity, accelerate investment procedures and ensure transparency.


Year Instrument & Measure Started: 
Year Last Instrument & Measure was last Amended: