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Investors’space
Fiscal Framework:
Investors can be either natural persons
or legal entities who invest in subscribing in the capital
of venture capital entities, in seed and FCPR funds or who
deposit investment funds at these companies.
These investment funds may emanate from either private corporate
or from institutions such as banks, insurance companies,
consortia, local and/or foreign investment funds, …
Fiscal provisions pertaining to incentives
to SICAR activities, to spin-off and seed funds and to FCPR
stem from the laws nr. 89-114 dated December 30, 1989 promulgating
IRPP’s and I.S’ code; nr. 95-88 dated October
30, 1995; nr. 2005-56 and 2005-59 dated May 18, 2005 and
2005-106 dated December 19, 2005 pertaining to the 2006
finance law.
These provisions sustain the following advantages to investors
and SICAR companies.
Investors:
- Deduction of the revenues and profits reinvested in
the subscription to SICAR companies’ capital or
invested in them during a minimum period of five years
and provided that:
-The latter
utilize these funds for the projects designed to this
purpose.
-This
use shall be made within the end of the fourth year
following discharge of the underwritten capital or the
investment of the funds in SICAR companies.
-
Deduction of the expenses incurred
for the realization of spin-off operations from the
tax base of the companies that make recourse to spin-off
technologies in the framework of the legislation in
force.
-
Deduction of the revenues and profits
reinvested in the acquisition of seed fund stakes from
the tax base.
- Deduction of the revenues and profits reinvested in
the subscription to FCPR stakes.
Venture capital
entities:
- Exemption of all taxes and duties on all procedures
related to the creation of companies.
- Deduction from taxable profits. of surpluses deriving
from stock transfer and the shares achieved for their
account or on behalf of a third party.
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