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The new Development Law in favor of recycling

The new Development Law 4399/2016 has been published with the title “Institutional framework for the creation of Private Investment Support regimes for the regional and economic development of the country – Establishment of a Development Council and other provisions”.

The objectives of the new law range from simple ones, such as technological upgrading and the provision of better services, to more complex and long-term ones, such as improving competitiveness in sectors of high added value and knowledge intensity and pushing the economy towards the production of more complex products.

Application submissions began on October 19th and the deadline was set for December 20th.

Read the new development law in detail in the published Government Gazette.

Who it concerns
Existing, new and start-up businesses can be included in the new development law for the following categories of aid:
General Entrepreneurship

  • New independent Micro-Medium Enterprises (SMEs)
  • Mechanical Equipment Reinforcements
  • Major Investments
  • Innovative Aid for SMEs
  • Synergies and networking
  • Financial intermediaries – Mutual funds
  • Integrated spatial and sectoral plans – value chains
  • Minimum investment amount

    • The minimum investment amount varies depending on the size of the business and its legal form. Specifically, it is structured as follows:

  • €50,000 for Social Cooperative Enterprises (SCEs), Agricultural Cooperatives (ACs), Producer Groups (PGs) and Agricultural Partnerships (APs).
  • €100,000 for very small businesses.
  • €150,000 for small businesses.
  • €250,000 for medium-sized enterprises and cooperatives.
  • €500,000 for large businesses

    • Types of aid

    According to the development law, beneficiaries can receive aid for the following categories:

  • Tax exemption
  • Capital grant
  • Leasing subsidy
  • Subsidizing the cost of employment created (salaries of new jobs)
  • Stabilization of the income tax rate for 12 years
  • Venture financing through the Participation Fund
  • Provision of equity capital

    • The subsidy percentage ranges from 10% to 45% depending on the size of the business (small-very small, medium, large) and the Region in which the business is based.

    Recycling equipment
    Recycling units can also be included in the new development law. Therefore, recycling companies have the opportunity to upgrade their equipment or acquire new recycling machinery and equipment. An investment in top-notch mechanical equipment will dramatically increase the productivity of the recycling facility and at the same time the benefit for the environment!

    We at Meteco Tech can fully cover the needs of a facility for recycling equipment. Combining 40 years of experience in the recycling field and exclusive cooperation for the Greek market with leading foreign machinery manufacturers, we can support units from all recycling systems. We have machinery for the recycling of materials such as:

  • Metals
  • Cables
  • Cars
  • Paper
  • Plastic

    • For more information, contact 2310781295 or visit our website tech.meteco.gr.

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