The Business Expansion Scheme (BES) allows individual investors to obtain income tax relief  on investments in each tax year. There is no tax advantage for the company in receipt of the BES, but securing this funding may enhance their ability to attract other external funding.

Enterprise Ireland has responsibility for certifying certain client companies as qualifying trades/companies in respect of Business Expansion Schemes (BES) and Seed Capital Schemes (SCS).

Please note the issue by EI of a cert for BES purposes is no guarantee, and does not imply, that Revenue will approve a BES share-issue.  Applicants are strongly advised to use Revenue's "Advance Opinion" service in respect of the proposed BES project (a "RICT Outline Approval" application form may be downloaded from the Revenue website www.revenue.ie).  Te service is provided by Revenue to enable project promoters to determine in advance whether a project is likely to qualify for the relief scheme.  An application for Revenue "Outline Approval" can be processed at the same time (or in advance of) the application to EI for a cert for BES purposes.  Any information provided on an application to EI for a cert for BES purposes may be forwarded to the Revenue Commissioners.

Qualifying Companies?

A qualifying company is one which:

• is an unquoted company (except in the case of companies listed on the Developing Companies market)
• is engaged in a qualifying trade
• has its issued share capital, fully paid up and
• is not intending to wind up within 3 years of receiving BES investment unless it is for bona fide commercial reasons
• Internationally traded services, manufacturing and companies carrying out research and development with a view to carrying out a qualifying trade are eligible to apply

How do I apply?

For Certification

• Existing Clients of Enterprise Ireland, should contact their Development Adviser , who will put a proposal together and bring it forward to a decision making Committee for approval.
• If you are not an existing Client of Enterprise Ireland, you will need to contact your Regional Enterprise Ireland Office and a Development Adviser will be assigned to you.

For Refund

Once approved, Enterprise Ireland will forward to you a copy of the Letter of Certification.  The original certificate is sent directly to the Office of the Revenue Commissioners.

Further details and information can be found on the Revenue Commissioners website on www.revenue.ie   under Leaflet IT55