Capital Grant for Tourism Businesses - Vouzounerakis

The Action aims to support the operation of businesses in the tourism sector after the resumption of their operation and in view of the official start of tourism activity in 2021 under the pandemic of COVID-19 disease.

It is financed through the Operational Program "Competitiveness-Entrepreneurship-Innovation" (EPANEK) of the NSRF 2021 - 2027 and concerns small and medium (300 million euros) and large (50 million euros) companies:

Hotels, accommodation, rooms to let
Travel agencies / agencies
Tourist bus operations.
Franchise companies are also included, provided that certain regulatory criteria of the NSRF are met.

The amount of aid amounts to 5% for companies with eligible KAD in category 55 and 2.5% for companies with another eligible KAD of the annual Turnover of 2019.

The maximum amount of aid is set at 400,000 euros per VAT.


Basic Conditions for Participation

Businesses must, inter alia, meet the following conditions:

To have started work by 31.12.2020.
Have completed at least 1 EME of employed work in the year 2019.
To have until 31.12.2020 as the main activity code or activity code with the highest income one of the eligible KAD.
Be required to submit VAT returns.
To show a decrease in their turnover in the year 2020, of a percentage of at least 30% in relation to the turnover of 2019.

It is pointed out that the working capital can not be used for the establishment of a new tourist facility, as the working capital subsidy is given only as a measure to deal with the consequences of the health crisis.

Subsidized Expenses

The start date for the eligibility of expenditure is set at 1 April 2021.

The working capital advance paid must have been spent from the start date of eligibility of expenses until 31.12.2021. This will be proven based on the Codes:

361 In-country purchases and expenditures
363 Other Imports other than investment property (fixed assets)
364 Intra-Community acquisitions of goods
365 Intra-Community downloads of services no. 14.2.a
of the forms of the relevant periodic VAT returns for the period 1/4/2021 - 31/12/2021.

The amount of working capital corresponding to this Action must not exceed 70% of the sum of the amounts of the four (4) codes.

The companies involved in the action are obliged to:

To spend the grant until 31-12-2021. The audit will be based on the declared expenses in the periodic VAT returns (Fields 361, 363, 364, 365).
To employ their staff in 2021 by at least 0.5 Annual Employment Unit (EMU). The audit will be based on data from the ERGANI Information System.

Electronic Submission

The Financing Application will be submitted electronically on the platform of the State Aid Information System (PSKE) from Wednesday 16/06/2021 at 10:00 to Wednesday 29/9/2021 at 17:00