Investment Law 3908/2011: Youth Entrepreneurship Special Status
Under the Youth Entrepreneurship special status of Investment Law 3908/2011 aid shall be solely granted to investment projects concerning the establishment and operation of very small & small enterprises in which natural persons holding more than 50% stake have not reached their 40th year of age and are solely responsible for the management of these undertakings.
Entitlement under the Youth Entrepreneurship special status requires from stakeholders to submit an Investment Project as defined in Investment Law 3908/2011 (Article 1).
It is also required:
- To have the legal form provided for by law 3908/2011.
- To have been established from January 2011 onwards (or being established).
- That natural persons with holdings in undertakings which have ceased their operation over the past 12 months and were active in the same market or in neighbouring markets do not hold more than 20% (or be responsible for their management) in these undertakings.
- Undertakings under Youth Entrepreneurship can submit a request for benefit under other aid schemes (e.g. General Entrepreneurship) on condition that the same eligible costs shall not be granted aid.
The minimum investment required under the Youth Entrepreneurship special status shall be:
- For Small Enterprises an investment of at least €150,000.
- For Very Small Enterprises an investment of at least €100,000.
- All Businesses