Who can be a company director

Irish companies require at least two individuals over the age of 18 to act in the capacity of company director, corporate directors are not allowed.

Section 10 of the Companies Act changes the requirement that at least one of the directors be resident in the EU.

That means that a company all of whose directors are resident in, say, the UK, will not require a bond or certificate of a real and continuous link with one or more activities in the State.

Where there is no director of the company whom will be resident in the EU the alternative of a Non Resident Director Bond can be put in place.

The directors of a company are the officers who are appointed by the shareholders to manage the day to day affairs of the Company. No qualifications are required to become a company director. The following may not become a company director:

• Individuals with in excess of 25 directorships at any one given time
• A Corporate Body like a Limited company
• An undischarged bankrupt
• A person disqualified by the High Court from being a director
• A person convicted of an indictable offence under the Companies Acts

Directors have an obligation to file with the Registrar of Companies a notification of any of the following:

• Change in the constitution of the company
• Change in the registered office
• Change of directors and secretaries
• Alterations in share capital
• Annual returns
• Mortgages and charges relating to company property
• Resolutions passed by the company