Tax Lease for R&D: Fund Your Innovation with Private Investors
Monetise the tax deductions your company in Spain cannot apply. An AIE turns them into non-repayable funding worth 30-35% of your R&D&I project in 6 months, without debt and without giving up equity.
30-35%
Funding for your R&D project
Who can use the R&D tax lease?
The tax lease turns dormant tax deductions into real funding. It suits innovative companies with a negative taxable base or an insufficient gross tax liability.
Candidate companies
- With R&D&I projects under Art. 35 LIS
- Negative taxable base or insufficient tax liability
- Start-ups and SMEs in a growth phase
- Up to date with the AEAT and Social Security
Eligible projects
- R&D under Art. 35.1 LIS (25-42% deduction)
- Technological innovation, Art. 35.2 LIS (12%)
- Certifiable with a binding technical report
- Costs: staff, materials, subcontracting
The AIE mechanism
- Economic interest grouping (Law 12/1991)
- Tax-transparent vehicle (Art. 48 LIS)
- Backed by DGT rulings (V2213-14, V3384-14)
- Bilateral alternative in the Basque Country and Navarre
Financial benefits
- Recover 75-85% of the value of your deductions
- Fund 30-35% of the total project cost
- No debt, no shareholder dilution
- Payment in 4-9 months (vs. 24 months, Art. 39.2)
How we run your tax lease transaction
Assessment and qualification
We identify your eligible R&D&I projects under Art. 35 LIS, review your tax position (taxable base, accumulated deductions) and estimate the funding a tax lease can raise.
Binding technical report and structuring
We obtain the binding technical report (informe motivado) from the Ministerio de Ciencia, the Spanish science ministry (RD 1432/2003), incorporate the AIE and define the structure: investor stake, consideration and timetable.
Finding the investor and delivery
We connect you with private investors from our network that have a sufficient gross tax liability. The investor joins the AIE as a member and your company delivers the R&D project with full traceability.
Settlement and monitoring
We file Form 151 with the Spanish Tax Agency (AEAT), the investor applies the deductions and your company receives the agreed funding. We keep the documentation ready for any inspection.
How much funding can a tax lease raise for you?
A tax lease turns dormant R&D&I tax deductions into real funding: between 30% and 35% of the total cost of your project, without debt or dilution.
Calculate your potential fundingFree assessment with no commitment
Other tax deduction services
R&D Cash Refund
Monetise unused R&D&I deductions: an 80% cash refund paid directly by the Spanish Tax Agency (AEAT) with no positive tax liability (Art. 39.2 LIS).
Patent Box
A 60% reduction in the taxation of patents, software and intangible assets. We manage the Nexus ratio and the supporting documentation.
Binding Technical Report
The binding technical report (informe motivado) from MINECO shields your R&D&I deductions before the AEAT. Mandatory for cash refunds and tax lease.
Accelerated Depreciation for R&D
Apply accelerated depreciation and free depreciation to R&D assets to reduce your Impuesto sobre Sociedades (Spanish corporate income tax).
The tax lease in figures
30-35%
Funding as a share of project cost
4-9 months
Time to payment (vs. 24 months, Art. 39.2)
No cap
Maximum amount (vs. €3M, Art. 39.2)
+30 years
Tecnocim track record in tax incentives
Frequently asked questions about the R&D tax lease
The tax lease (also called technology patronage or tax equity) is a funding mechanism regulated by Art. 43 of Law 27/2014 on the Impuesto sobre Sociedades and by Law 14/2011 on science, technology and innovation. It allows a company that generates deductions for R&D&I activity (under Art. 35 LIS) to transfer those deduction entitlements to a private investor in exchange for immediate non-repayable funding. The innovative company obtains liquidity without giving up equity or taking on debt; the investor applies the deductions in its own corporate income tax return, with a maximum return of 20% on its contribution (Art. 39.7 LIS).
In Spain's common tax territory, the transfer of deductions is structured through an Agrupación de Interés Económico (AIE), an economic interest grouping governed by Law 12/1991. The AIE acts as a tax-transparent vehicle (Art. 48 LIS): the investor joins as a member and contributes capital, the AIE subcontracts delivery of the R&D project to the innovative company, and the deductions generated flow to the investor in proportion to its stake. The company receives the agreed funding. The DGT has validated this structure in binding rulings V2213-14, V3384-14, V4897-16 and V1824-18. In the Basque Country and Navarre there is an alternative route: a bilateral private contract, with no need to incorporate an AIE.
The innovative company recovers between 75% and 85% of the nominal value of its tax deductions as funding. Measured against the total cost of the project, that is equivalent to between 30% and 35% of the budget. The exact figure depends on the negotiation with the investor, the subcontracting margin and the structure of the transaction. One key advantage over the cash refund route (Art. 39.2 LIS): the tax lease has no cap on the amount, against €1M for technological innovation and €3M for R&D under Art. 39.2, and payment arrives in 4-9 months rather than the roughly 24 months of the cash refund.
Yes. The binding technical report (informe motivado) issued by the Ministerio de Ciencia, Innovación y Universidades is an essential requirement for a tax lease (Art. 35.4 LIS; RD 1432/2003). The report certifies the R&D or technological innovation nature of the project and is binding on the Spanish Tax Agency, which means the tax authorities cannot contradict it. The Tribunal Supremo, the Spanish supreme court, confirmed that binding effect in 2024. In addition, after the TEAC ruling of November 2024, exhaustive documentation and market-value subcontracting margins matter even more in AIE transactions. Tecnocim obtains the report as an integral part of the process.
Both mechanisms let you monetise R&D deductions that cannot be applied, but they differ on key points. The tax lease pays out in 4-9 months and has no cap; the cash refund takes around 24 months and is capped at €1M for technological innovation or €3M for R&D. The tax lease requires neither headcount maintenance nor mandatory reinvestment; Art. 39.2 requires you to maintain average headcount for 24 months. The company recovers 75-85% of the nominal value with a tax lease, against 80% with the cash refund. The tax lease suits large projects or companies with variable headcount; the cash refund may be preferable for stable operations that value administrative simplicity.
Yes, and that is precisely the profile for which a tax lease is most valuable. A company with a negative taxable base generates no positive gross liability under the Impuesto sobre Sociedades, so it cannot apply the R&D deductions it generates. A tax lease lets that company turn its deduction entitlements into real funding from its first tax year, without borrowing and without giving up equity. The condition is that the R&D activity can be certified through a binding technical report and that the size of the project justifies the structuring costs. Tecnocim assesses the viability of each transaction in a free initial assessment.
Do you have R&D&I deductions you cannot apply?
Turn dormant deduction entitlements into real funding. Free assessment within 48 hours.
Request a free assessment
