A budget of 120.000.000 € has been approved as a subsidy for establishing new touristic businesses The electronic submission of applications concerning the funding from...

Subsidies for the establishment of new tourist businesses

A budget of 120.000.000 € has been approved as a subsidy for establishing new touristic businesses.
The electronic submission of applications concerning the funding from PA 2014-2020 will begin on December 18th 2017.
The amount subsidized varies from 25.000 € to 400.000 €. The subsidy for any investment covers the 45% of the total expenditure, leaving the other 55% to the owner.
The subsidy from PA reach 50% of the cost if the business plan provides new jobs opportunities.

Who are eligible to take part in the program:
● Very small businesses
● Small and medium-sized businesses

The above mentioned businesses must have an activity code number for the investment before the first disbursement of the subsidy.

Which businesses may take part in the program:
● Businesses that will be established during the dates of the program and who will have an activity code number before the first disbursement of the subsidy.
● Businesses of tourist accommodation which have been established prior to the beginning of the program and have a tourism related activity code number.

Which businesses will be part of the program:
● Tourist accommodation-hotels with a capacity of 10 beds or more 3 – star category or better
● Furnished houses for tourists, at least three
● Car rental tourist offices (cars, motorcycles etc.)
● Alternative types of tourism such as water/sea tourism, athletic tourism, outdoor/countryside tourism etc.

The program funds the following:
● Machines, facilities and equipment for the protection of the environment
● Technical studies and engineers
● Accounting services
● Means of transport

The eligibility of expenditure will begin on 11/07/2017 and will last for 30 months.