Long-term individual saving plans known as “Alternative PIRs” are an investment tool introduced in 2020 by the “Relaunch Decree”.
This tool aims to encourage investments in risk capital as well as in debt capital in the real economy and, in particular, in unlisted companies.
Unlike ordinary PIRs, Alternative PIRs provide investors with the opportunity of constructing the plan as they see fit, by including investment products that they already hold or intend to hold after the Alternative PIR agreement has been concluded.
Trust companies are the only type of entity permitted to establish an Alternative PIR on behalf of an investor. Nettuno can establish an Alternative PIR with or without nominee registration of the financial instruments included in the plan.
Alternative PIRs must comply with the composition and concentration limits provided for by the reference legislation and with a minimum investment holding period of 5 years.
Between €300,000.00 and a maximum of €1,500,000.00 can be invested each year in the Alternative PIR.
By way of example but not limited, the following can be included in the Alternative PIR: units of closed-end mutual investment funds, shares in SMEs and innovative Start-Ups, shares in limited liability companies, and mini-bonds.
Natural persons can establish more than one Alternative PIR in their name.
Investing in Alternative PIRs gives the investor the following tax advantages, provided that they are held for at least five years:
