Download PDF

Strategic Investments

Handbook of the new provisions under Law 4864/2021

Authors:
• Karatsolis K., Attorney at Law
• Tsakalogianni I., Attorney at Law
• Michalakea A., Attorney at Law
Pages: 33
Publish Date: 2022

The new Law 4864/2021 of the Ministry of Development and Investments “Strategic investments and improvement of the investment environment through the acceleration of processes in private and strategic investments” (Government Gazette 237 Α/2-12-2021) aspires to be the Paper of Strategic Investments.

It contains the existing legislation in a consolidated text, which it further codifies and improves by removing provisions that have proved to be dysfunctional, while introducing amending or new provisions.

The aim is to improve the investment climate for the implementation of strategic investments in order to simplify and accelerate the processes of their evaluation and realization and to enhance the legal certainty of strategic investors and the development of a new single regulatory framework for strategic investments.

Strategic Investments

Handbook of the new provisions under Law 4864/2021

Authors:
• Karatsolis K., Attorney at Law
• Tsakalogianni I., Attorney at Law
• Michalakea A., Attorney at Law
Pages: 33
Publish Date: 2022

The new Law 4864/2021 of the Ministry of Development and Investments “Strategic investments and improvement of the investment environment through the acceleration of processes in private and strategic investments” (Government Gazette 237 Α/2-12-2021) aspires to be the Paper of Strategic Investments.

It contains the existing legislation in a consolidated text, which it further codifies and improves by removing provisions that have proved to be dysfunctional, while introducing amending or new provisions.

The aim is to improve the investment climate for the implementation of strategic investments in order to simplify and accelerate the processes of their evaluation and realization and to enhance the legal certainty of strategic investors and the development of a new single regulatory framework for strategic investments.

Download PDF

Introduction

The new Law 4864/2021 of the Ministry of Development and Investments “Strategic investments and improvement of the investment environment throughthe acceleration of processes in private and strategic investments” (Government Gazette 237 Α/2-12-2021) aspires to be the Paper of Strategic Investments.It contains the existing legislation in a consolidated text, which it further codifies and improves by removing provisions that have proved to be dysfunctional, while introducing amending or new provisions.

The aim is to improve the investment climate for the implementation of strategic investments in order to simplify and accelerate the processes of their evaluation and realization and to enhance the legal certainty of strategic investors and the development of a new single regulatory framework for strategic investments.

In essence, the logic of Law 4608/2019 and the distinction of categories of investments according to the incentives provided are maintained. Emblematic Investments in particular are now called Emblematic Investments of Exceptional Importance (Article 1c). General Definition of Strategic Investments Strategic Investments are those investments which, due to their strategic importance for the national or local economy, can enhance employment, productive reconstruction and the promotion of the natural and cultural environment of the country, in accordance with the principles of socially fair, inclusive, balanced and sustainable development, with main characteristics the attraction of investment capital, extroversion and export activity, innovation, competitiveness, integrated planning, the preservation of natural resources in the perspective of circular economy and high added value, especially in sectors of economic activities of internationally marketable products or services.

General Definition of Strategic Investments

Strategic Investments are those investments which, due to their strategic importance for the national or local economy, can enhance employment, productive reconstruction and the promotion of the natural and cultural environment of the country, in accordance with the principles of socially fair, inclusive, balanced and sustainable development, with main characteristics the attraction of investment capital, extroversion and export activity, innovation, competitiveness, integrated planning, the preservation of natural resources in the perspective of circular economy and high added value, especially in sectors of economic activities of internationally marketable products or services.

Authors

Konstantinos Karatsolis
Konstantinos KaratsolisAttorney at Law
Ifigenia Tsakalogianni
Ifigenia TsakalogianniAttorney at Law
Athina Michalakea
Athina MichalakeaAttorney at Law

Contents

1. Strategic Investment Categories4
2. The process of inclusion in strategic investments9
3. Incentives for Investment Inclusion in Strategic Investments15
4. Other provisions24
5. The issue of the transitional provision of Article 30 of Law 4864/2125
6. Environmental Provisions (Article 3)26
7. Spatial and Town Planning Provisions (Articles 4, 23-25)28
8. Arrangements for the Concession of the Shoreline and the Beach (article 5)30
9. Arrangements for Complementary and Accompanying Projects (article 6)31
Categories, Criteria and Incentives of the Law32