Application Process for Greek Business Funding Opens on Oct. 12

Professionals and business owners in Greece seeking grants for their enterprises can apply for government funding under the new development law as of October 12.

The government, meanwhile, invites interested social partners and parties to submit proposals on the law, which covers four key areas — general entrepreneurship, equipment and supplies support, new independent media and major investments. Public discussion on the law will run through to Sunday. The application deadline for the first two domains is November 30 and April 28 for the latter two.

In order to be considered, investment projects must be valued at no less than 50,000 euros for cooperatives, 100,000 euros for very small businesses, 150,000 euros for small enterprises, 250,000 euros for medium-sized and cluster businesses and 500,000 euros for large businesses.

The new development law foresees tax exemptions over a 12-year period for large investment projects as well as direct funding for all investments.

The procedure is carried out online with interested parties able to monitor the progress of their applications.