How can I take part in encouraging business innovation through European funds for fostering innovation?
Individual investors may not invest directly in ELTIF funds, but they may nevertheless obtain the right to deduct the personal income tax rate on European funds for fostering innovation when they deposit amounts at credit institutions in accounts opened for the sole purpose of ensuring that the amount is used by the financial institution to acquire stakeholdings in an ELTIF to foster innovation.
Requirements to be met by European funds for fostering innovation
Tax incentives for individual investors who invest in funds for fostering innovation through credit institutions
For individual investors who deposit amounts over five years in accounts opened with credit institutions solely so that the financial institution can acquire stakeholdings in European funds for fostering innovation, the Provincial Council of Bizkaia sets a deduction on the tax liability for personal income tax of 15%, up to a limit of €750, for amounts deposited in credit institutions to finance the purchase of stakeholdings and amounts deposited at banks that fund the purchase of same, provided that those amounts are held there for five years.