There is no requirement for an investor to be resident or ordinarily resident in the UK. However, there is little point in investing under the EIS unless the individual has a UK income tax liability against which relief can be set.

There are four requirements that an investor must satisfy:

he must not be ‘connected with the issuing company’ (see below);

no ‘linked loan’ must be made to the investor or his associates by any person at any time in Period A (see ¶8205);

existing shareholdings are only permitted in certain circumstances; and

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