VCM20500 - EIS: general: company invested in: general

An investor is eligible for reliefs under the EIS only if the investment is in a qualifying company. A company is a qualifying company in relation to a particular investment if it meets certain requirements, many of which apply for the duration of the three-year period (see VCM20600) related to that investment.

All the requirements in question apply also in the case of the other venture capital schemes, and will be found listed at VCM15000. Most of them are dealt with fully in that section of the manual for convenience. However, the rule usually known as 'the control rule' or 'the independence requirement' takes a different form for each scheme, and the version applying for the purposes of the EIS is set out below at VCM20510.