This is a sister of the Employment and Investment Incentive Scheme (EIIS).
Tax relief is available for individuals starting up their own company and can be claimed against the previous six tax years for qualifying investments.
The rules and regulations governing this relief are complex and depend on the individual investor meeting various requirements and also on the type of activity to be carried on by the company.
Tax relief can be claimed on sums up to €600,000 invested in a qualifying start up company against tax liabilities of the individual investor for the previous six tax years. The maximum annual claim is €100,000.