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Tax incentives in force for “Investment Angels”

For the first time, the Greek State introduces tax incentives for Investment Angels in start-ups through Elevate Greece, as noted in an announcement of the Ministry of Development and Investment, on the occasion of the signing of the relevant decision.

The Deputy Minister of Development and Investment, Christos Dimas, the Deputy Minister of Finance, Apostolos Vesyropoulos and the Governor of AADE, George Pitsilis, signed the Joint Ministerial Decision (JMD) which describes the terms and conditions for the designation of a taxpayer as a natural taxpayer. (Angel Investor).

At the same time, it recognizes the right to deduct from the taxable income for investments in a start-up company that is registered in the National Register of Start-up Companies-Elevate Greece.

More specifically, the decision determines the manner, time and characteristics of the capital contribution, the process of deduction from the taxable income of the “Investment Angel”, the conduct of audits to verify compliance with the obligations of the “Investment Angels” and start-ups regarding the correct application of article 70A of law 4172/2013 (KFE), as added by the provisions of article 49 of law 4712/2020.

The “Investment Angel” has the right to deduct from taxable income equal to 50% of the amount of the capital contribution allocated to start-ups. It is deducted proportionally per category of declared income of the tax year in which the contribution was made. It can invest up to 100,000 euros per start-up of Elevate Greece and up to three per year, ie up to 300,000 euros per year.

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It is reminded that “Investor ‘Angel” is defined as the taxpayer-natural person, tax resident of Greece or abroad, holder of Greek VAT, who contributes funds to start-ups of Elevate Greece with the aim of their general development, with the manner provided by the provisions.

The Minister of Development and Investment, Adonis Georgiadis stated:

“From the first moment we took over the government of the country, we promised that we would work hard to turn Greece into a business-friendly country, which attracts foreign direct investment, especially in start-ups and high technology. “With the incentives we have established for the ‘Investment Angels’, we are giving a practical example of our policy.”

The Deputy Minister of Development and Investment, Corinth MP Christos Dimas stated:

“For the first time, the Greek State introduces tax incentives for” Investment Angels “in start-ups through Elevate Greece. The incentives aim at the substantial but also overall development and strengthening of the ecosystem, since they are expected to attract investment interest. From today they come into force “.

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