Investment incentives, both sectoral and horizontal, are ever-changing, covering many fields. We use our respective expertise and know-how with the sole aim to advise our clients with their cases concerning subjection to the legal framework on Strategic Investments, namely the “Fast track” law (Law 3894/2010 as amended by Law 4072/2012, Law 4146/2013, Law 4242/2014 and Law 4262/2014) and assist on accelerating the licensing procedures for such investments deemed important to the Greek economy.
Fast Track works as an accelerating and transparency enhancement mechanism for the procedures relating to the implementation of strategic investments in Greece, whether these consist of Private-Private ventures (a private investment on a private asset, such as a hotel or tourist development, an industry, etc.) or Public-Private Partnerships (a private investment in a state asset/property). Fast Track accelerates the licensing procedure by: a) creating a legally-binding timeframe for the issuance of licenses with significantly reduced deadlines, b) immediately activating the investment process, and c) enhancing the speed and efficiency of public bodies’ relevant actions.
Moreover, we thoroughly examine the legal framework regulating state aid and advise on the minimum level required in order for an investment plan to be approved for aid, as well as the tax reliefs, subsidies, setting-off of debts with taxes, incentives for job creation and a stable tax regime.
State aid work is becoming a larger part of firm’s remit, especially due to the Partnership Agreement for Development Framework – NSRF 2014-2020 transactions we undertake to handle. NSRF structure is based on Sectoral Operational Programmes (OP Competitiveness, Entrepreneurship and Innovation, OP Transport Infrastructure, Environment and Sustainable Development, OP Human Resources Development, Education and Lifelong Learning, OP Public Sector Reform, OP Technical Assistance, Rural Development Programme and OP Fisheries and Maritime) and Regional Operational Programmes, covering all principal sectors of economy and development. The NSRF ecosystem is characterized by intense bureaucracy with a multitude of government agencies involved in the investments’ lifecycle. Hence, we place strong emphasis on formal compliance with relevant acts, as the legality and regularity of all expenses is thoroughly reviewed.