How to apply for EIS
To apply for EIS, a company must meet certain eligibility criteria and follow a specific application process. Here are the steps involved in applying for EIS:
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Check eligibility: The company must be a small, unlisted business that meets certain criteria, such as having fewer than 250 employees and not being controlled by another company.
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Prepare the necessary documentation: This includes a business plan, financial projections, and other supporting documentation as required. (We can help you with the business plan).
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Submit the application: The application can be made online through the government's EIS website, or via post using the relevant application form.
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Await a decision: The government will review the application and decide whether to approve it. This process can take several weeks.
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If approved, start raising funds: Once the company's EIS status has been approved, it can start raising funds from investors. It is important to note that each individual investment must also be approved by the government before it can be counted towards the company's EIS funding limit.
It's worth noting that the EIS application process can be complex, and it is advisable for companies to seek professional advice before proceeding.
