If you need finance to expand your business then consider raising funds under the Enterprise Investment Incentive Scheme (EIIS).
The EIIS is a tax relief that can be used by trading companies to attract equity-based risk finance from individuals. Qualifying companies that wish to raise finance under EII must issue shares to the investor in respect of the amount invested. The company must use the money raised to carry on a qualifying trade. Invested funds cannot be used for debt repayment.
The investor can claim Income Tax relief on amounts invested up to a maximum of €150,000 per year, provided he or she keeps the shares for at least four years. There are a number of detailed conditions that companies must meet to become a qualifying company.
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