Tax Lease

Tax Lease for R&D&I – Monetise your innovation without debt or dilution.

Monetise between 30% and 40% of your current year’s R&D expenses as direct liquidity, without loans or dilution.

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Our Tax Lease service for R&D&I allows innovative companies to transform between 30% and 40% of their annual R&D expenses into immediate liquidity, without debt, without dilution and with complete legal certainty.

We help you identify the different possible funding options, executing and managing the entire process securely so that you can maximize your savings.

Liquidity

Fast liquidity without financial risk

We help you convert your R&D&I deductions into immediate financing, without debt or dilution, with funds usually released within just three months after the fiscal year-end.

Network of tax investors

Access a consolidated network of companies and institutions interested in optimising their tax burden through the regulated acquisition of R&D&I deductions, obtaining returns of 30% to 40%.

Legal (1)

Validated legal certainty

All transactions are structured according to sound tax criteria, backed by binding consultations with the Directorate-General for Taxation and certified technical reports.

Compatible with other funds

We integrate the Tax Lease into your overall financial strategy, combining it with other instruments such as ENISA or private investment, without creating incompatibilities and maximising your financing capacity.

30–40%

monetisation of R&D&I expenditure

20–30%

tax efficiency for the investor

Key Information

Assess your eligibility for a tax lease

💡 Tip: Start early. The accounting review, coordination with the investor, and technical and tax preparation—which typically takes 4 to 6 weeks—can be time-consuming.

What is a tax lease?

The Tax Lease is a tax financing mechanism that allows innovative companies to monetise between 30% and 40% of their annual R&D expenses, obtaining immediate liquidity without debt, dilution or competitive bidding.

It is based on the regulated transfer of R&D&I tax deductions to an investor seeking to optimise their tax burden, with maximum legal certainty guaranteed by binding consultations with the DGT. It is usually structured through an EIG.

This system converts tax credits —including BINs and unused deductions— into liquidity within an average period of three months, providing a flexible and secure alternative to traditional advances or subsidies.

Who can benefit?
  • Companies with R&D&I expenditure of at least €250,000, with no upper limit.
    • No incompatible subsidies (CDTI, Horizon Europe).
    • Negative tax result or accumulated deductions not applied.
  • Investors: legal entities subject to corporation tax or self-employed persons with professional activity.
  • Spanish entity with payroll in Spain and expenditure in the EU.
What are the benefits of a tax lease?

The Tax Lease offers a fast, secure and non-dilutive way to finance R&D&I. Its main advantages are:

  • Funding without debt or dilution: non-repayable funds, without loans or guarantees.
  • Rapid liquidity: access to 30–40% of R&D expenditure within an average period of 3 months after the fiscal year-end.
  • Maximum legal certainty: operations backed by binding consultations with the DGT.
  • Non-competitive instrument: no calls for applications or selection processes.
  • Compatible with ENISA and private financing (not cumulative with CDTI or Horizon Europe).
  • Attractive to investors: tax returns of 20–30%.
  • No restrictions on use: liquidity can be used for any business need.

Overall, a flexible and secure mechanism for converting R&D&I into immediate liquidity.

Which two parties make a tax lease transaction possible?

A tax lease transaction is based on the collaboration of two key entities:

🧪 The innovative company, which carries out R&D&I activities and wishes to monetise its tax deductions to obtain immediate liquidity.

🏢 The tax investor, a company or professional subject to corporation tax or professional income tax, who acquires these deductions to optimise their tax burden and obtain a regulated return.

Both parties benefit: the company receives financing without debt or dilution, and the investor gains access to a tax advantage with a return.

What activities and costs are eligible for financing through Tax Lease?

Eligible activities

  • Applied research
  • Experimental development
  • Innovative technology projects

Covered costs

  • Technical personnel
  • Subcontracting (100% permitted)
  • Materials and consumables
  • Depreciation
  • Indirect costs
How do you apply for a tax lease?
  1. Initial contact and free assessment
  2. Review of accounting and tax documentation
  3. Investor search or validation
  4. Contract formalisation
  5. Closing of the transaction and transfer of funds

 

What are the estimated timescales for a tax lease transaction?
  • Technical/tax preparation: 4–6 weeks
  • Legal approval: 2–4 weeks
  • Effective financing: within 3 months of fiscal closure
Comparison with other instruments
Instrument Financial intensity Average Time Competition  Dilution Fund Source
Tax lease (patronage) Approx. 35% 3 months ❌ No ❌ No Private
Advance tax deductions 20–25% 24 months ❌ No ❌ No Public
Public subsidy 30–70% Variable ✅ Yes ❌ No Public
Private investment (VC) Variable Long term ❌ No ✅ Yes Private

What we offer

At Evolution, we have 20 years of consulting experience in preparing proposals for the CDTI and the AEI.

Contact us for a free initial consultation

Tax leases are an increasingly popular private financing instrument, so we are here to explain how they work, their benefits and advantages, answer any questions you may have, and work with you to analyse how tax leases might fit into your financing strategy for this year.

Our expert team will accompany you from start to finish:

1️⃣ Phase A – Preparation and structuring
  • Assessment of the suitability of the tax lease
  • Full explanation of the instrument
  • Review of the project and tax documentation
  • Coordination with the investor
  • Legal and tax design of the transaction (AIE if applicable)

2️⃣ Phase B – Execution and closure
  • Support with legal formalities
  • Coordination of payments and income
  • Assistance during audits or reviews
  • Management of administrative procedures with the tax authorities
  • Post-operative follow-up
Esquema Tax Lease

How tax leasing works, step by step

1️⃣ Preliminary assessment of the project (ex ante ENAC certification).
2️⃣ Creation of or membership in an EIG, a vehicle regulated by Law 12/1991.
3️⃣ Capital increase and investment by the sponsor.
4️⃣ Execution of the project by the innovative company.
5️⃣ Application of tax deductions by the investor (corporate income tax or personal income tax).
6️⃣ Release of funds (between 30% and 40% of the expenditure) in Q1 of the following financial year.
7️⃣ Reversal of the IP and repurchase of shares by the developer company.

In Navarra and the Basque Country, direct transfer without an EIG is permitted, applying a profitability coefficient of 1.2.

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Our Funding Search Tool keeps you connected to the latest public funding opportunities — from national and regional programmes.

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Other funding opportunities

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R&D Tax deductions

Lower your corporation tax by taking advantage of a powerful and flexible incentive for innovative companies.

  • Recover between 25% and 59% of your R&D&I expenses.
  • Possibility of monetising the deduction even without profits.
  • Applicable to research, development and technological innovation projects.
  • Compatible with grants such as CDTI, ENISA or European programmes.
  • Maximum legal certainty with the Binding Reasoned Report.
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Social Security Bonus for Research Staff

  • Lowers labour costs for R&D staff by up to 40%.
  • Immediate monthly savings applied directly to social security contributions.
  • Fully compatible with R&D tax deductions if your company has the Innovative SME Seal (sello pyme innovadora).
  • Additional bonus of +5% for young researchers.
  • Additional bonus of +5% for women.
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Patent Box

  • Lowers your effective corporation tax rate by up to 10%.
  • Up to 60% reduction in the tax base for income from the transfer or exploitation of intangible assets (patents, software, industrial designs).
  • Simple implementation — no need to capitalise the asset on the balance sheet.
  • Retroactive application possible and compatible with other aid (tax deductions, ENISA, CDTI).
  • Ideal for companies that market their own technology.

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The ultimate guide to
securing R&D funding  

  • How to identify the best funding opportunities for your project
  • Learn strategies top innovators use to secure funding from private investors or public funds

Download now and boost your funding success!

Frequently Asked Questions (FAQ)

Frequently asked questions about Tax Leases.

Which organisations can benefit?

Companies with unsubsidised R&D&I expenditure and unclaimed tax deductions, especially if they are not profitable.

How does it work in Navarra and the Basque Country?

It is not necessary to create an AIE. A tax coefficient of 1.2 is applied, which speeds up the process.

How much can be monetised?

Between 30% and 40% of eligible expenditure, depending on the territory and type of operation.

What return does the investor obtain?

Between 20% and 30%, depending on the type of transaction, territory and volume.

Is this operation safe?

Yes, it is backed by binding consultations from the DGT and reasoned reports from the Ministry of Science.

Can part of the funds be advanced?

Yes. In some cases, an advance payment can be negotiated prior to the end of the financial year.

Would you like to convert your R&D&I deductions into liquidity?

Get your free consultation. Contact us