Check your Elegibility

1. About you and your Company. Please provide the following information
2. Is the Company eligible for the EMI Option Scheme?

This means that it is not a 51% subsidiary of another company, not otherwise controlled by another company, or not otherwise controlled by another company or a person connected with it, and there are no arrangements in place to bring about these circumstances

If the Company is a parent company, the gross assets limit applies to the value of the group.

The policy basis for excluding certain activities is that companies undertaking them are typically asset-backed. If a company's business is based wholly, or to a substantial extent, on excluded activities, then it cannot grant qualifying EMI options. For the purposes of the EMI Option Scheme these activities include (but are not limited to) banking, farming, property development, provision of legal services, and shipbuilding

3. Are the proposed employees eligible?

Directors are considered 'employees' for EMI purposes. However, contractors or non-executive directors are not eligible

The employee must not have a 'material interest' in the Company or any of its subsidiaries, either on their own account or together with one or more of their associates. A material interest means beneficial ownership or control of more than 30% of the shares or entitlement to more than 30% of assets on a winding up or other distribution. A material interest held solely by associates will also make an employee ineligible. 'Associates' include (but are not limited to) business partners and family members

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