SEIS

If the investment is in a company that is offering fitness / gym services then I would say yes. I recently did an advance assurance application for company that was going to operate a tennis club. I was worried that the activity of the company would be seen to be akin to a licence to use land (ie letting of the courts) and therefore a non-qualifying activity, however the application was approved. It seems that providing that the "club" provides additional facilities, eg changing rooms etc then there is less risk of the activity being seen to be that of the renting of land. To be honest I think the risk is a lot less anyway with a fitness club / gym as compared to a tennis club.