Employment and Investment Incentive Scheme: Who Qualifies and What You Get
Learn how individual investors can benefit from tax incentives when investing in qualifying small and medium-sized enterprises in Ireland.
The Employment and Investment Incentive Scheme is a program designed to encourage individuals to invest in small and medium-sized enterprises (SMEs) by providing specific tax relief.
Who it's for
This scheme is available to individual investors who put their money into qualifying small and medium-sized businesses within Ireland.
What you get
If you invest in a qualifying company, you can claim tax relief. To access this benefit, you must submit a Form 11 tax return and provide a Statement of Qualification issued by the company you invested in.
What it costs you
There is no direct cost mentioned to access the scheme, though you will need to complete the required tax paperwork.
The catch to know
To keep the benefits, you cannot simply withdraw your money whenever you like. You must hold your investment for a minimum period of 4 years.
How to apply
- Identify a qualifying small or medium-sized enterprise to invest in.
- Obtain a Statement of Qualification from that company.
- Include the necessary details when filing your Form 11 tax return.
- Visit the official portal for more details: https://www.revenue.ie