Resident Director

Section 137 of the Companies Act 2014 (the “2014 Act”) requires all Irish companies to appoint at least one EEA resident director. We can provide an Irish Resident Director when incorporating your company in Ireland.

Residency Requirements

The requirement concerns residency rather than nationality or citizenship, for example, a company director holding an Irish passport but residing outside of the EEA would not satisfy the requirement.

Non-Resident Insurance Bond

An Irish company that does not have a resident director, can instead use a Non-resident Director bond. The bond must be in place for a two-year period and is to the value of €25,000.

New Irish Companies

For new companies, the Non-Resident Insurance Bond must be affective from the date or incorporation. If the Bond is selected the Companies Registration Office will require the Bond number before they complete the incorporation. If we are providing a Resident Director these details are supplied to the Companies Registration Office during the company incorporation process.

EEA Resident Director Requirement

Under Irish company law an Irish registered company must have at least one European Economic Area (EEA) resident Director on the board or put a bond in place to cover filing liabilities. Where an existing Irish company had fulfilled this Director requirement by appointing a UK resident to the Director role up until 31st December 2020 this will no longer qualify.  They should now consider replacing that Director or adding an additional Director who is an EEA-resident unless exempted.

The Director requirement is based on residency, not nationality and so, a company Director of Irish nationality who lives in the UK and has done so for a number of years is unlikely to satisfy the EEA requirement in the future.

Options available for existing Irish Companies:

  • Appoint an EEA resident director to your Irish company board
  • Put a bond in place – an insurance policy that CRO approves in replacement of having an EEA resident individual on the board
  • The Exception to the Rule – ‘Real and Continuous link’ –  It is possible for the Directors of an existing Irish Company who have no EEA-resident Directors to apply to the Irish Revenue Commissioners for a Statement under Section 140 of the Companies Act 2014