Non Resident Director 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 who is 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 EU Director and the bond can be arranged within a few days and the bond is valid for two years.
Bond as an alternative to a Resident EU Director
The Companies Act states that if an Irish Company does not have a European Resident Director, a Bond must be in place.
The Irish Registrar has the power to have a company struck off for not having a Resident EU Director or a bond.
The bond insures your Irish company for €25,000 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
- Any fines for failure to supply certain information to the Revenue Commissioners