Azores 2030 | Structuring Business Notice: incentives of up to €7 million per project

The Azores 2030 program launched a new notice to support structuring businesses and promote the economic, social and environmental development of the archipelago.

Fund allocation available: €45,000,000.00

Maximum incentive per project: €7 Million

Application period

Starting on August 31st, the application period includes 6 distinct phases between October 31st, 2023 and December 30th, 2024.

1st Phase: 10/31/2023

2nd Phase: 12/29/2023

3rd Phase: 03/28/2024

4th Phase: 06/28/2024

5th Phase: 09/30/2024

6th Phase: 12/30/2024

Within the Azores 2030 program, the Structuring Business notice aims to support investment projects that:

• take on a structuring character;
• promote the expansion of the economic export base, inserted in the economy of tradable goods and services;
• promote the use and valorization of endogenous resources, the strategic reconversion of activities and the stimulation of investment in new business areas that respond to emerging market segments.

Who can benefit from this notice?

Commercial companies, regardless of their legal nature and complementary groups of companies and cooperatives, with tax residence, headquarters or permanent establishment in the Autonomous Region of the Azores.

What are eligible expenses?

This notice is based on three investment components:

• Investments directly related to the operation (investments associated with the creation, expansion or modernization of companies);
• Investments related to internationalization;
• Investments related to quality certification, safety and environmental management.

Each investment component has its eligible expenses defined. We present some examples for each of the investments:

Each investment component has its eligible expenses defined. We present some examples for each of the investments:

1 - Investments related to the “operation”

a) Acquisition of:

• Degraded properties or intended for intervention in urban centers;
• Goods and equipment (includes transport, insurance, assembly and disassembly);
• Technical assistance services in planning matters (control and management, production, technological modernization).

2 - Investments related to "internationalization"

a)Acquisition of services for:

• Project implementation (hiring consultancy; brand design project);
• International marketing development;

b) Registration and participation in events.

3 - Investments within the scope of "certification of quality, safety and environmental management"

a) Acquisition of services:

• related to the instruction of the certification process;
• audits, verifications and inspection visits;
• technical assistance and consultancy;
• for laboratory tests.

There are also expenses that are eligible in any of the components mentioned above, such as the acquisition of services for preparing the application process, marketing/communication plans, engineering and architectural projects, among others.

Get to know more about the eligible and non-eligible expenses in our Azores 2030 Product Sheet – Structuring Businesses.

Incentive

Incentive in the form of a non-refundable grant, corresponding to the application of one of the following percentages:

a) 40%, for the islands of São Miguel and Terceira;

b) 45% for the islands of Faial and Pico and for the municipalities of Nordeste, Vila Franca do Campo and Povoação, on the island of São Miguel;

c) 50% for the islands of Santa Maria, Graciosa, São Jorge, Flores and Corvo.

In addition to the incentive rate resulting from the application of the paragraphs of the previous number, at the time of closing the investment, and after evaluating the cruise year, based on the degree of achievement of results, an achievement award for projects, under the form of non-refundable grant. The achievement premium corresponds to the investment on the eligible expenses of the project. Without prejudice to the maximum limit referred to in the previous number, the incentive rate to be attributed cannot exceed the maximum rates expressed in gross subsidy equivalent (ESB), being 50% for large companies, 60% for medium-sized companies and 70% for small businesses.

YUNIT SUPPORTS YOU THROUGHOUT THE ENTIRE PROCESS

For more information about applications and incentives, schedule a free no-obligation meeting with our experts!

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