JEV is a supports the creation of transnational joint ventures for SMEs in the Community.
The objective of the joint venture should be to create new economic activities, involving investment and employment creation within the Community. Transfers of existing economic activities are not eligible. Similarly, purchases of existing enterprises are not eligible.
The partners must play an active part in the joint venture
and assume an adequate measure of responsibility. Any joint venture in
which one of the partners owns more than 75% will be ineligible. Any
change in the holdings in the joint venture within three years
following the signing of the contract with the Commission must be
submitted to the Commission for a review of its financial participation.
The joint venture must be newly created by at least two SMEs from two different Member States.
Eligible expenses are those relating to the conception and setting-up of a joint venture:
expenses incurred on market surveys, preparation of the legal framework, environmental
impact assessment, technical standards, business plans, etc.
expenses for external experts
expenses for internal experts (relating to travel abroad)
For the grant, covering up to 10% of the investment made, an investment is considered to be any purchase or production of tangible or intangible assets which are accounted for as fixed assets in the balance sheet of the joint venture and valued in accordance with generally accepted accounting standards.
MAXIMUM AMOUNT PER PROJECT
The maximum contribution per project shall be Euro 100,000 covering:
up to 50% of the eligible expenses, with a maximum of Euro 50,000
up to 10% of the total amount of the investment made
BHP Capital can arrange applications to the European Community for subsidies under JEV
through its association with Europa Bank AG (a subsidiary of Dresdner Bank).