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www.mcguirewoods.com Click to edit Master title style www.mcguirewoods.com Romania - Financing Opportunities for Investors State Aid Schemes September 2014
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McGuireWoods LLP | 2 CONFIDENTIAL State Aid Schemes – effective financing source for investment projects Romanian State committed to support up to 50% of the eligible expenses Maximum value reimbursed – approx. 37.5 million Euros Objectives: Consolidate Romania’s position in the EU as strategic investment hub Decrease regional social and economic gaps in Romania Create new jobs Diversify / expand investment opportunities in underdeveloped areas Support for strategic investments on the long run Transfer of know-how and state-of-the-art technologies Romania - State Aid Opportunities
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McGuireWoods LLP | 3 CONFIDENTIAL Impact of Romanian State Aid Schemes throughout 2007- 2014 2.175 billion Euros initial budget 691.85 million Euros in approved financing agreements 19,000 new jobs created 59 beneficiaries from strategic industries (automotive, manufacturing, IT&C, food industry, tourism, medical, airspace etc.) Romania - State Aid Opportunities
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McGuireWoods LLP | 4 CONFIDENTIAL Current Funds under the Romanian Ministry of Finance State Aid Scheme for New Jobs Creation (GD no.332/2014) Investment Project Size No minimum investment value Minimum 20 new jobs within 3 years from investment completion date Investment Requirements Initial investment Applicant companies to be reimbursed throughout 2015-2025 State commitment to cover part of 2 years’ salary expenses with new staff Budget Euro 600 million July 1 2014 – Dec 31 2020 No EU approval needed Romania - State Aid Opportunities
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McGuireWoods LLP | 5 CONFIDENTIAL State Aid Scheme for New Jobs Creation (GD no.332/2014) Maximum intensities and state aid values Romania - State Aid Opportunities Region July 1, 2014 – Dec 31, 2017 Jan 1, 2018 – Dec 31, 2020 Bucharest 15% max. Euro 11.25 million 10% max. Euro 7.5 million West & Ilfov County 35% max. Euro 26.25 million North-West, Center, North-East, South-East, South, South-West 50% max. Euro 37.5 million
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McGuireWoods LLP | 6 CONFIDENTIAL State Aid Scheme for Large Investments Investment Project Size Beneficiaries: large enterprises with foreign and domestic capital Estimated number: 150 companies Minimum investment threshold: EUR 10 million (value of both eligible and ineligible assets, w/o VAT) Investment Requirements Initial investment: greenfield project or business relocated from outside the EU area (relocation from within the EU area is restricted) Eligible costs: new constructions, leasing of existing constructions, tangible assets (technical equipment & machinery) and intangible assets (patents, licenses, know-how) Applicant companies to be reimbursed throughout 2015-2023 Budget for 2014 –2020: EUR 600 million Yearly budget allocation: EUR 100 million No EU approval needed Romania - State Aid Opportunities
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McGuireWoods LLP | 7 CONFIDENTIAL State Aid Scheme for Large Investments Maximum intensities and state aid values Romania - State Aid Opportunities Region 2014 –2017 2018-2020 Bucharest 15% max. Euro 11.25 million 10% max. Euro 7.5 million West & Ilfov County 35% max. Euro 26.25 million North-West, Center, North-East, South-East, South, South-West 50% max. Euro 37.5 million
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McGuireWoods LLP | 8 CONFIDENTIAL Business Expansion | Federal Public Affairs | Strategic Communications & Grassroots Mobilization State & Local Government Affairs | Emerging European Markets Atlanta Charlotte Charlottesville Chicago Columbia Norfolk Raleigh Springfield Tyson’s Corner Washington, D.C. | Bucharest, Romania www.mcguirewoodsconsulting.com Thank you.
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