Strategic Investment Law amended

On 25 April 2019, the Law 4608/2019 was published in the official Hellenic Government Gazette. Its aim is to modernize the existing legal framework for strategic investment and attract more investment projects.

Under the new law, Strategic Investments are "investments which, by virtue of their strategic importance to the national and / or local economy, can produce quantitative and qualitative results of significant intensity for employment growth, productive reconstruction and promotion of the country's natural and cultural environment in accordance with the principles of social justice, inclusive, balanced and sustainable development, and in accordance with the National Development Strategy (EAS), characterized by openness, innovation, competitiveness, universal design, saving natural resources at the prospect of circular economy and high added value, particularly in economic sectors with internationally marketable products or services". The law provides for different categories of strategic investment, mostly dependent on a minimum investment amount and number of created jobs.

Once a strategic investment status is granted, an investor may enjoy relevant tax incentives and investment grants for R&D activities and recruitment of disadvantaged workers. Additionally, fast licencing is envisaged as well as special zoning procedure to provide public land for projects.

• Type:

  • Promotion and facilitation (Investment facilitation , Investment incentives)

• Industry:

  • Not industry specific

• Sources:

  • https://www.kodiko.gr/, ΝΟΜΟΣ 4608/2019, https://www.kodiko.gr/nomologia/document_navigation/513526/nomos-4608-2019, 25 Apr 2019
  • CPA Law, “Strategic Investments” Law 4608/2019 (Gazette Α’ 66), https://www.cpalaw.gr/en/insights/newsflashes/2019/05/strategic-investments-law-46082019/, 05 Aug 2019