Assistance

Office of the Revenue Commissioners, Stamping Building, Dublin Castle, Dublin 2

T: (01) 674 8426
F: (01) 671 0012
E: b.brien@revenue.ie
W: www.revenue.ie
Contact: Bert Brien

Categories: Equity

Properly called "Relief for Investment in Corporate Trades" (RICT), this is a form of venture capital, intended to help smaller businesses and certain R&D projects.

Fund-raising companies must be incorporated and resident in Ireland, must not be quoted on the Stock Exchange (other than on the Developing Companies Market), and must be engaged in a "qualifying trade".

It is up to the business to find potential investors and, when it does, to obtain approval of the arrangement from the Revenue Commissioners.

Subject to conditions, relief from income tax is available by way of a deduction from income to individuals who invest long-term risk capital in this way. The maximum aggregate amount of investment for which a person can get relief in any one year is €31,744, while the minimum investment in any one company is €253.

An explanatory guide is available on the Revenue's website.