Do I need an EEA resident director for my Irish company?
It is not possible to establish a company in Ireland without an EEA resident director. The Companies Act 2014 mandates that every Irish company must appoint at least one director who is a resident of the European Economic Area (EEA).
It’s important to note that this requirement is based on residency, not nationality. Thus, for instance, an Irish citizen residing in Australia cannot serve as the sole director of an Irish company.
Although not legally required, having an Irish resident director is often advised to ensure tax residency in Ireland.
Navigating the Complexities: Your Alternatives to an EEA Resident Director
Embrace Nominee Director Services
Consider utilising a nominee director service. This allows you to appoint an EEA-resident individual to act as a director on your behalf, fulfilling the residency requirement outlined in the Companies Act 2014.
Opt for a Section 137 Revenue Bond
Securing a Section 137 Revenue Bond can offer a solution. This insurance policy provides a guarantee for a potential fine of up to €25,000, ensuring that your company is safeguarded against potential statutory non-compliance.
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Peaks Moto “Make things Simple” shines through in everything we do. We want to take away the hassle from the client. Most of our clients come to us because they want to form an Irish Limited company and do not know where to start. We are here to guide them and tall them through the company structure that suit their needs best.
Benefits of an EEA Resident Director Versus a Section 137 Bond
Potential Tax Benefits
Having an EEA Resident Director can position your company within the EEA, which might open avenues to the varied and beneficial tax regimes within the EEA countries. A bond does not provide this potential tax leverage.
Assurance of Compliance
While a Section 137 Bond offers a guarantee against fines stemming from non-compliance, an EEA Resident Director ensures your company consistently adheres to the corporate laws of the respective EEA country.
Enhanced Local Presence
An EEA Resident Director significantly strengthens your company’s foothold in the EEA region, an edge that a bond cannot match. This local presence can considerably elevate your business’s standing in the EEA market.
Continuity and Stability
Unlike a bond, which typically provides coverage for a two-year period, an EEA Resident Director brings an enduring commitment, ensuring continual adherence to regional regulations and dramatically reducing potential administrative challenges.
At Peak Accounting Solutions, we pride ourselves on providing a comprehensive range of services to support your company’s growth. Our dedicated team of professionals is committed to delivering exceptional solutions tailored to meet your specific needs. our comprehensive services include:
Voluntary Strike Off
Our team makes the process of voluntary termination of your Irish company simple and worry-free by handling all the necessary paperwork.
We provide expert assistance in smooth shares transfer among current stakeholders or to new ones, in compliance with Irish corporate law.
Superior and Comprehensive EEA Resident Director Solutions
Finding the perfect EEA resident director can be a stressful and tedious task. To ease the strain, Peak Accounting Solutions offers a broad range of services, including:
- Identifying and designating an apt EEA resident director
- Ensuring full compliance with Irish corporate law
- Round-the-clock support and advice
- Catering to Non-resident director revenue bond services
Why Choose Our Irish Resident Director Services?
Deep-Rooted Compliance Expertise
Our team is well-versed in the complexities of Irish corporate law. We ensure your company is fully compliant, avoiding potential legal pitfalls.
Extensive Local Knowledge
With our deep understanding of the Irish business environment, we can provide invaluable advice to navigate the local market successfully.
Tailored Support and Solutions
Every business is unique, and so are our solutions. We customise our services to meet your specific needs and objectives.
Seamless Process and Continued Assistance
We strive to make the entire process of appointing an Irish resident director smooth and stress-free. Plus, our support doesn’t end there – we offer continued assistance for any queries or issues that might arise.
Top Company formations agents.
Customer service is at the forefront of what we do – if you’re happy, we’re happy.
Frequently Asked Questions
Can a non-resident be a director of an Irish company?
Indeed, a non-resident can serve as a director of an Irish company. However, the company must also have a minimum of one director who is a resident of either Ireland or any EEA country. Alternatively, the company can secure a bond to ensure compliance with Irish law.
What Is A Section 137 Bond For Non-EEA Resident?
Section 137 Bond is an insurance policy, providing a guarantee to the Registrar of Companies that any potential fines (up to a certain limit) will be paid in the event the company fails to meet specific filing and disclosure requirements. This bond is especially relevant for non-EEA resident directors.
How many directors does an Irish company need?
Irish law states that a company incorporated in Ireland must have at least two directors. One of these directors should be a resident of either Ireland or any other EEA country to ensure compliance with corporate laws.
Can a foreigner set up a company in Ireland?
Absolutely. Foreigners are allowed to set up a company in Ireland. However, they need to ensure that at least one director is resident in Ireland or any EEA country. Alternatively, a Section 137 bond can be held as a form of insurance against non-compliance.
Does a director have to be resident?
Not necessarily. While it is not obligatory for all directors to be residents, at least one director must be a resident of Ireland or any EEA country, or the company must hold a bond for compliance with Irish law.
What is an Irish resident director?
An Irish resident director is a director who permanently resides in Ireland. They play a critical role in foreign companies establishing their operations in Ireland, helping to ensure legal and regulatory compliance.
What will be next step?
Our process begins with a thorough consultation to understand your business needs and objectives. We also provide an overview of the Irish business environment, regulatory landscape, and the costs associated with setting up a company.
Registration & Documentation
We handle all the registration paperwork, from company name check to drafting of Articles of Association and submission to the Companies Registration Office. We ensure every step is done accurately and promptly.
After Registration Services
Post registration, we provide services like tax registration, account setup, regulatory compliance guidance, and secretarial services. We aim to give your company a strong foundation.
Write us a few words about your project and we will prepare a proposal for you within 24 hours.
What People Say
Expertise in EEA Resident Director Services
Our EEA Resident Director Services are the solution to the challenges faced when establishing a business in Ireland. With Peak Accounting Solutions, you receive expert guidance and a stress-free setup process. Our Nominee Director service ensures you’re in compliance with all legal requirements.
Don’t let these challenges deter your success. Fill out our contact form and rest assured that you will receive a response within 2-4 hours. If you require urgent assistance, please call us now. Your success in Ireland is our priority.