Bond - EU Director
One of the directors of your Irish company must be a resident in the European Union. Where there is no director of the company whom will be resident in the EU a Non Resident Director Bond can be put in place.
We can arrange a bond as an alternative to having a resident Irish Director for a fixed fee. A Bond can be usually arranged within a week. The Bond must be taken out for a minimum of two years.
Bond As Alternative To Resident EU Director
The Irish Companies Act states that if an Irish Company does not have a Eurpoean Resident Director, a Bond must be taken out.
The Irish Registrar has the power to have a company struck off for not having a Resident EU Director or a Bond.
How the Bond is used:
The Bond insures your Irish company for a sum of €25,395 and it’s purpose is to ensure that the company will complete the required filings at the Companies Registration Office and the Revenue Commissioners.
The Bond is used to pay:
- Any fine imposed on the Company in respect of offences under the Companies Acts
- Any penalty which the company has been held liable to pay under the Taxes Consolidation Act 1997
- Any fines for failure to supply certain information to the Revenue Commissioners