Greece unveils draft law on strategic investments

The consultation will end on December 17, 2018.

The draft legislation, among others, sets a 45-day deadline to issue any kind of license, approval or οpinion for the installation or operation of a strategic investment.

A ministry announcement said this legislative initiative sets the framework for attracting strategic investments and to help towards upgrading the Greek economy according to a National Stategy for Growth, which aims to boost employment. The draft legislation moves along two axes: First, creating a framework more attractive and efficient for investors compared with the existing one, by offering a wide range of benefits along with a secure, transparent and rapid process. At the same time, it safeguards public interest, attracting investments in all economic sectors and ensuring the greatest possible distribution of benefits from these investments.

Strategic investments are categorized according to incentives, while licensing procedures are rationalised and new actions are introduced to speed-up process. Strategic investments are eligible for tax exemptions ranging from 7,500,000 euros for investment budgets up to 30 million euros, falling gradually to zero for investment budgets exceeding 100 million euros.

Source: amna-mpa