Investment Incentives in Greece
Incentives or guarantees
- Forms of Aid
- Foreign investors are mainly encouraged to develop economy and tourism. Aids are granted to companies that introduce new products and new technologies within the Greek market, that modernise sites and production tools and protect the environment by making for example energy savings. In Greece, the amount of aids (subsidies, loans...) varies with the geographical regions: 5 can be listed (A, B, C, D and Thrace). For further information on these aids, the following organisations should be contacted: ELKE and the Ministry of National Economy.
- Privileged Domains
Greece has a liberalised energy market and is evolving into an energy hub in this decade. Today, it represents a significant and dynamic sector of the economy. Alliances with major European, American and Japanese companies and oil and gas agreements have positioned Greece as the country to do business in energy.
- Technology: Greece is rapidly transforming itself into a knowledge-based economy. Its projected ICT market growth for the next two years is 6% which is significantly higher than the EU average of 3% (EITO 2007).
- Tourism: Greece ranks in the top 15 destinations worldwide. The Greek tourism sector is a continuous growth market and represents 18% of the country's GDP. Annual arrivals by 2010 are projected at 20 million.
- Food & Beverage is the most dynamic and high growth sector in Greek manufacturing. Twenty-five percent of the most profitable Greek companies are food & beverage companies. Production growth rate is almost double that of the entire manufacturing industry.
- Privileged Geographical Zones
- Greece has three free-trade zones, located at Piraeus, Thessaloniki and Heraklion port areas. Greek and foreign-owned firms enjoy the same advantages in these areas. Goods of foreign origin may be brought into these zones without payment of customs duties or other taxes and remain free of all duties and taxes if subsequently transshipped or re-exported.
- Country Risk
Tax incentives offered to foreign investors
- Special tax treatments
- Incentives are available for qualified investments and include tax breaks. Tax allowances available for 2 years and equal to the amount of cash grant of wage subsidies of up to 40% of the cost of any new job created applies in Greece. For more information on tax incentive programs you can consult the Invest in Greece Agency.
- Useful Links
Investment in Greece
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