Changes to the Employment and Investment Incentive (EII) announced in Budget 2015 and Budget 2016 commenced on 13 October 2015 by virtue of Budget 2016 Financial Resolution No. 4. These changes apply to share issues made on or after 13 October 2015.

The changes include increases to the limits on the amounts that can be raised by companies from €2,500,000 to €5,000,000 in any 12 month period and €10,000,000 to €15,000,000 in the lifetime of the company. The minimum period for the holding of shares in an EII company, and for the company to remain a qualifying company for EII, has been increased from three years to four years. For full details of the new changes see the Revenue website.

The EII now operates under the conditions set out in the EU Commission’s General Block Exemption Regulations on State Aid (2014). This is a set of 43 exemptions from the requirement of prior notification and Commission approval for State aid purposes.