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Office of the Revenue Commissioners

15 schemes tracked

Key Employee Engagement Programme (KEEP)

KEEP is a tax-efficient share option scheme, available for qualifying options granted between 1 January 2018 and 1 January 2029, that lets an employee acquire company shares at a fixed price in future without paying Income Tax, USC or PRSI on any gain at exercise. It is subject to conditions on the share option (10-year limit, 12-month minimum before exercise), the employee (minimum hours, no material interest over 15%), and the company.

Grant range
up to €100,000 per employee per year. Lifetime cap of €300,000 per employee
Funding level
100%
Support type
Tax Relief
Last checked
4 Sept 2026
Start this application on Office of the Revenue Commissioners's website (opens in a new tab)

About this scheme

The Key Employee Engagement Programme (KEEP) is a tax-efficient share option scheme for qualifying options granted between 1 January 2018 and 1 January 2029. It lets an employee acquire company shares at a fixed price in future without paying Income Tax, USC or PRSI on exercise, even where the shares have risen in value, provided a set of conditions are met. The share option itself cannot be held for more than 10 years or exercised within its first 12 months. The employee must work at least 20 hours a week for the company as an employee or director throughout the exercise period, and must not hold more than a 15% interest in the company's ordinary share capital. The qualifying company must also meet its own conditions, set out in Revenue's Share Schemes manual. No tax is due when the option is granted or exercised. If the options are later assigned to a third party, they lose KEEP status and are instead treated as an unapproved share option scheme.

Who can apply

  • Available for qualifying share options granted between 1 January 2018 and 1 January 2029
  • Share options cannot be held for longer than 10 years, and cannot be exercised within the first 12 months of the grant date
  • The employee must be an employee or director throughout the exercise period and work at least 20 hours per week for the qualifying company
  • The employee is not eligible if they hold a material interest (more than 15%) in the ordinary share capital of the qualifying company (or, for a qualifying group, the qualifying holding company)
  • The qualifying company must satisfy its own set of company conditions, detailed in Revenue's Share Schemes Tax and Duty Manual, Chapter 09
  • If KEEP options are assigned to a third party, they lose eligibility for the relief and must be treated as an unapproved share option scheme

How to apply

  1. The qualifying company grants KEEP share options to the employee at a fixed price; no tax is due on the grant, and the employer reports the granted options to Revenue.
  2. The employee exercises the option (at least 12 months after grant and within 10 years); provided the qualifying conditions are met, no Income Tax, USC or PRSI is due on the resulting gain, and the employer reports the exercised options to Revenue.
  3. If the employee later disposes of the shares, they must report the disposal — and any Capital Gains Tax due — to Revenue themselves via a CGT return, since the employer does not deduct tax or report the disposal on their behalf.