Non Resident Director Bond – EU Director
Whereas directors can be of any nationality one of the directors of your Irish company must be a resident in the European Union. Where there is no director of the company who is resident in the EU a Non Resident Director Bond can be put in place.
We can arrange a Non Resident Director Bond as an alternative to having a resident EU Director, the bond can be arranged within a few days and is valid for two years and is renewable every two years if the company has no EU resident director.
Non Resident Director Bond in Ireland
The Registrar of Companies has the power to have a company struck off for not having a EU Director or a Non Resident Director Bond. The Irish Companies Act states that if an Irish Company does not have a EU Resident Director, a Non Resident Director Bond must be in place.
The Non Resident Director Bond insures your Irish company, it’s purpose is to ensure that the company will complete the required filings at the Companies Registration Office and the Revenue Commissioners.
Non Resident Director Bond is used to pay
- Fines imposed on the Company in respect of offences under the Companies Act
- Penalty which the company has been held liable to pay under the Taxes Consolidation Act
- Fines for failure to supply certain information to the Revenue Commissioners