Relief for investment in innovative enterprise

Certificates of Qualification

Where a company is satisfied that it meets the conditions, it may make an application for Certificates of Qualification. The application is made using RIIE Form 1 and should be accompanied by all the relevant supporting documentation.

When considering an application for Certificates of Qualification, Revenue may consult with Enterprise Ireland. 

Certificate of Going Concern

This certificate confirms that the relief group is a Small, Medium or Micro Enterprise (SME) and not an undertaking in difficulty.

Where the conditions are met, Revenue will issue a Certificate of Going Concern. Where the conditions are not met, Revenue will issue a determination, giving the reasons for not issuing the certificate. The applicant may appeal this determination to the Tax Appeals Commission within 30 days of the date of the notice.

A company may apply to renew a Certificate of Going Concern provided it meets all the requirements of the scheme. 

A Certificate of Going Concern may initially be valid until a member of the relief group is three years old. Thereafter, the validity of the certificate will depend on certain factors. A Certificate of Going Concern will expire on the day the Certificate of Commercial Innovation expires.

Certificate of Commercial Innovation

This certificate confirms that the company is an innovative enterprise and has a viable business plan.

Where the conditions are met, Revenue will issue a Certificate of Commercial Innovation. Where the conditions are not met, Revenue will issue a determination, giving the basis for refusing to issue the certificate. The applicant may appeal this determination to the Tax Appeals Commission within 30 days of the date of the notice.

A Certificate of Commercial Innovation may be valid until a member of the relief group is established for seven years. 

Register of Certificates of Qualification

Revenue maintains a publicly available register of Certificates of Qualification which outlines:

• the certificate type
• the name, address and Companies Registration Office (CRO) number of the company
• the date of issue of the certificate
• the period of validity of the certificate
• the unique sequential ID number of the certificate
• and
• where relevant, the date of withdrawal of the certificate.

Investors should check that the Certificates of Qualification provided by the companies are valid on the date of the investment. Please see the Register of Certificates of Qualification for further details.

Next: Obligations of the company