Greece's new FDI incentives regime under Law 5338/2026: framework before the first call
Law 5338/2026 (ΦΕΚ Α' 159, 5 Oct 2026) creates an annual FDI incentive scheme for non-domestic capital; the first ministerial call has not been published yet.
Eligibility, aid intensities, budgets and submission windows are set in the annual ministerial call under Article 6. Until that call is published, the law is the framework only. The Gazette text prevails over this summary.
What the law does#
Law 5338/2026 was published in ΦΕΚ Α' 159/05.10.2026. Part A creates a Καθεστώς Κινήτρων Άμεσων Ξένων Επενδύσεων (FDI incentives regime) for investment plans financed by non-domestic capital (Article 5). The regime is proclaimed once a year by decision of the Minister of Development (Article 6). As of 19 October 2026, no such call decision appears on the ministry's calls for investors page.
The law is separate from Development Law 4887/2022 (see the 2026 Development Law calls note). Applications for this regime go through the same Development Law information system, OPSAN / Π.Σ.-Αν (Article 16). FDI screening under Law 5202/2025 and EU foreign-investment screening rules still apply; inclusion in this regime does not replace them (Article 5(4)).
The law entered into force on publication (5 October 2026), with limited exceptions for other articles (Article 50).
Eligible sectors (Article 2)#
Plans may fall in these categories:
- Manufacturing and industrial production
- Research, applied innovation and artificial intelligence
- Industrialised primary production
- Biotechnology
- Defence industry and aeronautics
- Logistics and warehousing
- Health: rehabilitation and recovery centres
- Social care: nursing-home service centres
Exact NACE coverage and any further filters will be in the call decision.
Who can apply (Article 7)#
Beneficiaries are new companies established in Greece, or existing foreign companies that set up a new branch in Greece, in the form of an Α.Ε., Ι.Κ.Ε., Ε.Π.Ε. or equivalent foreign company form. "New" means founded no more than 12 months before the application date. Shareholders may be natural persons permanently resident abroad, or legal persons seated outside Greece.
Exclusions include firms with pending Deggendorf recovery, certain labour-law convictions, firms in difficulty under the GBER definition, recent relocation of the relevant establishment, refusal to commit not to relocate for two years after completion, and projects carried out for the State under works, concession or service contracts.
Project size (Article 12)#
Eligible project cost must be at least €10m and at most €50m. For research, applied innovation, artificial intelligence and biotechnology, the floor is €5m. The call may refine size rules by company size within those bounds.
Aid types (Article 11)#
The law names four incentive types. Intensities and budgets are left to the annual call (Articles 6 and 13), within the Regional Aid Map and GBER limits.
| Type | What the Gazette text provides |
|---|---|
| Tax exemption | Relief from corporate income tax on pre-tax profits (with distribution rules), calculated as a percentage of aided costs or of new leased equipment, booked as a distinct reserve |
| Fast licensing | Target of two months from a complete file filed with Γ.Δ.Α.Ν.Α.Ξ.Ε. for required permits and approvals (environmental terms follow Law 4864/2021 routes); if the deadline lapses, the Development Minister may issue or refuse the permit within one further month |
| HDB loan guarantee (SMEs) | SMEs admitted to the regime may seek loans guaranteed by the Hellenic Development Bank via the DeLFI guarantee fund or another HDB instrument; the aid element counts toward regional-aid ceilings |
| Residence permits | Inclusion can support residence permits under Article 97 of the Migration Code (Law 5038/2023) for investors and workers tied to the project |
This scheme's headline cash-like aid is the tax exemption, not a Development Law-style cash grant line. Grant, leasing and employment subsidies remain the Development Law toolkit (calls note).
Caps and financing (Articles 13–15)#
- Regional aid intensities follow the Regional Aid Map for large firms, plus +10% for medium and +20% for small and micro firms (Article 13).
- Aid per plan is capped at €20m, subject to GBER notification thresholds (Article 14(1)).
- Cumulative aid to one firm is capped at €20m, and to a group of linked or partner firms at €50m, over three years from the application (Article 14(2)).
- Own funds must cover at least 40% of total cost; at least 25% of eligible cost must come from non-domestic own funds or from external financing that is not state aid (Article 15).
What to watch next#
- The first Article 6 call decision (budget, window, intensities, documents, fees).
- Ranking tables and objection deadlines after the window closes (procedure mirrors other OPSAN schemes; detail will be in the call).
- Whether Enterprise Greece or the ministry publishes English guidance once the call is live.
Primary text: ΦΕΚ Α' 159/05.10.2026 (Law 5338/2026), searchable via et.gr. Ministry calls: ependyseis.mindev.gov.gr.