8230 Enterprise investment scheme – qualifying investors
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