Two new sessions open for submitting applications on the State Aid Scheme for salary costs

The Ministry of Public Finance estimates that there will be two new sessions, in March and July 2016, which will enable companies to submit financing requests based on the state aid scheme for salary costs (regulated by G.D. 332/2014). The opening day of the sessions as well as the related budget will be announced on the website at least 30 days before their opening. The total budget allocated for this state aid scheme for 2016 is RON 450 million. Should this budget not be entirely used in the first session in March 2016, a new session will be opened in July 2016.

“State aids, as non-reimbursable funds, remain an excellent financing tool for companies targeting new or increased business in Romania” says Iulian Sorescu, Associated Partner, Head of Financial Department, Noerr Finance & Tax. He adds “the interest of investors for financing their projects through state aid is steadily increasing, year by year, and we see it in the increased number of companies asking us to assist them in structuring their project and preparing the related application for state aid funds”.

The state aid scheme for salary costs was launched in 2014 by the Ministry of Public Finance, with the main purpose to support regional development through investments that generate at least 10 new workplaces. The grant received from the Romanian state finances the gross salary and the related taxes for 2 consecutive years.