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European framework 2014-2020

On 8th January legislation was published approving the framework for systems of incentives to companies of the continental territory, providing the creation of programmes to support the following domains:

  • Creation of jobs in SME;
  • Culture, conservation of heritage e audio-visual works;
  • Entrepreneurship;
  • Energy and environment;
  • Professional training;
  • Innovation and business competitiveness;
  • Internationalisation;
  • Research and Development (R&D), including demonstration and valorisation of business R&D;
  • Qualification of SME;

 

It is, for now, only a generic definition of the type of systems of incentives, as the concrete regulation of each of them has not yet been published.

Supports to be given within the new systems of incentives may be refundable or non-refundable (outright), or may have the form of interest subsidies.

The forms, rates, amounts, limits and deadlines of incentives shall be set in the specific regulation of each system of incentives.

As a general rule, tangible assets concerning productive investment must be supported through refundable incentives and may be complemented with interest subsidies mechanisms or partial exemption of refund, to be granted depending on the level of fulfilment of results.

Projects shall be assessed according to selection criteria not yet announced, and decisions must be made within 60 business days counted form the deadline to submit applications, which is equivalent to about 3 calendar months

Applicant companies must be legally established, meet the legal conditions need to perform their respective activity and be in a compliant situation as far as tax administration, social security and entities that pay incentives. They must also have or ensure human and physical resources needed to develop the project, have organised accounting and present a balanced economic-financial situation, in terms that will also be defined in the respective specific regulation.

Supported projects may only be initiated after the application date and must demonstrate economic-financial viability including adequate funding with own capitals.

It is important to take into account that acquisitions of goods and services associated to funded projects must be carried out in market conditions and from supplier entities having capacity for that purpose. In the case of costs with intangible investments, they are eligible only when acquired in market conditions and to third parties unrelated to the acquiring company.

Concrete publication of the regulation for each system of incentives is expected to occur in the next few weeks, thence allowing companies to begin applying directly.

 

Paulo Pereira

Effective member of OE (8934)

Director of Neomarca