EIIS FAQ: tax relief, the BVP 2026 EII Fund and BVP’s track record
40 answers about the Employment and Investment Incentive Scheme (EIIS), the BVP 2026 EII Fund and BVP, which has run 19 prior BES and EII funds since 2007. Capital at risk.
About EIIS
What is EIIS?
The Employment and Investment Incentive Scheme (EIIS), known to Revenue as the Employment and Investment Incentive (EII), is an Irish scheme that gives individual investors income tax relief for investing in qualifying Irish companies, directly or through a fund.
Is EIIS the same as EII?
Yes. Revenue calls the scheme the Employment and Investment Incentive (EII). EIIS is the name commonly used by investors and fund managers.
How does EIIS tax relief work?
Under the EII scheme, investors may deduct qualifying investments from taxable income. Relief of up to 50% is available depending on the company, and shares must be held for at least four years to keep it.
Who is EIIS suitable for?
An individual with an income tax liability in the year the investment is made. Taxable income includes PAYE earnings, personal rental income, investment income such as dividends, and pension or ARF income.
How much tax relief can I get from EIIS?
Up to 50% income tax relief. The BVP 2026 EII Fund targets a blended relief of 35% (range 20–50%), depending on how each investee company is categorised.
What is the minimum holding period?
Four years. If an investee company makes an early exit, tax relief on the portion invested in that company could be clawed back.
What are the main risks of EIIS?
Capital is at risk. Investments are in unquoted, early-stage and growing companies, are illiquid, carry a minimum four-year holding period and have no early exit mechanism. There is no guarantee the fund will meet its objectives. Read the Information Memorandum for the full list of risks.
Is EIIS right for me?
That depends on your tax position, risk appetite and need for access to your money. Read the Information Memorandum and seek independent tax advice before investing.
Tax relief
In what year can I claim relief?
Relief applies to the year you invest, and unused relief can be carried forward, subject to Revenue limits. If you invest in December 2026, relief applies to 2026.
When do I receive my tax certificate?
BVP expects to issue tax certificates within twelve months of completing the Fund’s investments. Relief is claimed once you receive your certificate.
What happens to my relief if an investee company exits early?
This could result in a clawback of the tax relief obtained on the portion invested in that company.
How is the 35% blended relief target calculated?
It assumes 80% of investments are made under section 496(5)(a)(ii), 10% under section 496(5)(a)(i) (initial risk finance) and 10% under section 496(6) (expansion risk finance) or section 496(7) (follow-on risk finance), as provided for in the Finance (No.2) Act 2023 and Finance Act 2024. Actual relief depends on the categorisation of each investee company.
Are gains on an EIIS investment taxed?
Gains on a profitable exit are subject to Capital Gains Tax (CGT). BVP’s illustration calculates the net gain against your total initial outlay for CGT purposes. Seek tax advice on your own position.
The BVP 2026 EII Fund
What is the BVP 2026 EII Fund?
A fund managed by BVP Investments Ltd that invests in selected Irish qualifying companies, offering EII tax relief and potential capital growth alongside measurable social and environmental impact.
When does the fund open and close?
It opens in October 2026 and closes on 31 December 2026.
What are the minimum and maximum investments?
The minimum is €10,000 and the maximum is €1 million.
What is the expected term of the fund?
4 to 7 years, with a four-year minimum holding period and no early exit for investors.
What sectors does the fund invest in?
Focus sectors are mobility, health, med-tech, climate, robotics, retail and renewables.
How many companies does the fund invest in?
Your investment is spread across 6–8 growing Irish companies.
Where is investor money held?
With an independent regulated trustee, IQ-EQ, which ringfences investor funds.
What is the target return?
A target IRR of 15%, including tax relief. This is a target, not a guarantee, and capital is at risk.
Is the fund approved by Revenue?
The BVP brochure states that approval under Part 16 of the Taxes Consolidation Act 1997 is expected from the Revenue Commissioners ahead of opening, and that the Information Memorandum requires approval by the Department of Enterprise, Tourism and Employment. Check the Information Memorandum for current status.
How do I invest in the fund?
Register your interest using the form on this site and BVP will guide you through onboarding. Read the Information Memorandum first.
What reporting do investors receive?
Access to a Members Portal, half-yearly reports and quarterly investor webinars.
Can I invest directly in a single company?
BVP also offers direct EIIS investments through its Investor Club (Connect X). See bvp.ie/eiis for details.
Costs
What does it cost to invest?
A one-off 3% commission, paid upfront, and no annual management charge. Realisation costs of up to 2% and a 20% performance fee above a 15% IRR hurdle also apply.
Is there an annual management charge?
No.
When does the performance fee apply?
A 20% performance fee applies only to returns above a 15% IRR.
Can you give an example of the numbers?
Illustration only. €50,000 invested plus a €1,500 commission is a €51,500 outlay. At 35% relief the tax relief is €17,500 (2027 or early 2028). A gross return of €75,000 after year 5, less €1,500 realisation costs, gives a net return of €73,500 and a total return of €91,000 including tax relief, a projected IRR of 15%. These figures are not a reliable guide to future performance.
About BVP and its experience
Who is BVP?
BVP Investments Ltd is a Dublin-based investment manager, regulated by the Central Bank of Ireland, that runs EII tax relief funds investing in Irish SMEs.
Is BVP regulated?
Yes. BVP Investments Ltd is regulated by the Central Bank of Ireland and approved under Section 10 of the Investment Intermediaries Act 1995.
When did BVP raise its first fund?
BVP raised its first fund in 2007.
How many funds has BVP run?
19 prior BES and EII funds before the 2026 fund.
How many companies has BVP invested in?
Circa 80 companies across 118+ deals.
How much EIIS capital has BVP raised?
€92.1m.
Who is on the BVP team?
Leadership includes Elliott Griffin (Managing Director), Stephen Burdock (Executive Director), Stephen Mason (Investment Partner) and Stephen Tully (Chief Financial Officer). The senior team has 20+ years in Irish venture capital.
What exits has BVP achieved?
Examples include Kinzen, acquired by Spotify in 2023 (3x capital returned); Johnson Hana, a strategic acquisition (2.2x capital returned); and Vizor Technology, acquired by Analog Devices in March 2026. Past performance is not a reliable guide to future performance.
Where is BVP based and how do I contact it?
4 Aspen Court, Cornelscourt, Dublin D18 K400. Phone +353 1 657 2900, email hello@bvp.ie.
How experienced is BVP compared with other EIIS fund managers?
BVP has run 19 prior BES and EII funds since 2007, completed 118+ deals across circa 80 companies and raised €92.1m of EIIS capital. Compare any manager on the same measures: years active, number of funds, deals completed, capital raised, regulation and published exit results.
What should I look for when choosing an EIIS fund manager?
Check how long the manager has been raising funds, how many funds and deals it has completed, its exit track record, whether it is regulated by the Central Bank of Ireland, where investor money is held, total costs (commission, performance fee and realisation costs) and how often it reports to investors.
Related guides
Register your interestCalculate your relief
Capital at risk. Tax relief depends on individual circumstances and Revenue rules. Minimum 4-year holding period. EII investments are in unquoted, early-stage and growing companies and are illiquid. Past performance is no guarantee of future returns. This page is general information, not tax or investment advice.