Non-EEA Resident Directors Starting A Company in Ireland

 

 

  • In Ireland, if a person is a non-EEA resident, he can establish a business in Ireland.
  • As per Irish Law – Companies Act, to set up a company in Ireland, it needs to have at least one EEA-resident director. In case the single director isn’t a resident in an EEA state, then the company should have a Section 137 bond. TAS Consulting assists in the processing of drawing a bond in this situation.
  • This means it’s perfectly feasible for non-EEA resident directors to form a business in Ireland. Nonetheless, this is given that you execute all of the essential actions.

How can you Set up an Irish company with no EEA-resident director?

  • Be sure you have a minimum of one director, another company secretary, an Irish address, and share capital.
  • Secure a bond with a financial institution.
  • Complete a type A1 and constitution CORE.ie or through a business formation agent.
  • Submit the secured bond, type A1 and constitution into the Companies Registration Office.

Do I need a bond? If I am an EEA citizen but not a resident of EEA?

They are different from the rules for citizenship, here are two examples:

  • You’re an Irish citizen and you move into the USA for ten years. You haven’t returned to reside in Ireland, so you have not been resident for ten years. However, you remain a citizen of Ireland. In this example, you will have to procure a bond.

 

  • You are a Spanish citizen and you proceed to China for five decades. You’re a citizen of an EEA country, although not a resident. In this example, you will need to procure a bond.

What happened after Brexit? What rules apply to UK directors?

  • In case you are a UK resident and you also would like to prepare an Irish Limited Company, you’re still able to incorporate an organization. you’ll have to possess a non-EEA resident bond or an EEA resident director to be appointed alongside you personally.

 

  • If you are an established firm with just UK directors, you are able to submit an application for certification in the CRO to exempt from that condition. This certificate has to be accompanied by a letter from Revenue saying that your organization has a”real and continuous connection ” with one or more economic activities in Ireland.

What will happen if there is no bond?

  • Businesses which don’t have an EEA resident manager are guilty of an offense.
  • The Registrar of Companies can strike off (close down) a business if it does not comply with the Companies Act. Thus, it’s very important to stay compliant.

The Non-Resident Package:

We designed a special package for those who live outside Ireland. This package provides support and helps for non-resident directors.

This Package includes:

  • Certificate of incorporation
  • Company Constitution Compliant Act 2014
  • Free Company name check
  • Fast company formation service
  • Digital documents by email
  • CRO fee included
  • Corporation Tax Registration

If you’re interested in learning more about non-EEA resident director bonds, we have another page that describes everything you need to know about the Section 137 non-EEA resident director bond.

Our fee for our bond service is €2000 + VAT.

Still unsure about starting a company or business in Ireland? Talk to our Consultant by calling +353 1 4428230 or emailing moh@tasconsulting.ie today.

Why Choose TAS CONSULTING

Experience

Our Experienced group of TAS Consulting simplifies the procedure for our customers since they secure competitive and tailored conditions on their own behalf.

Qualified

We have a team of qualified staff with specialized knowledge of company formation services. We provide a high standard to all kinds of businesses. 

Trusted

TAS Consulting Limited is a reliable intermediary recognized and relied upon by Agents nationally as they supply the best terms and service to their clientele.

Contact us today

Phone: +353 1 44 28230

Mobile/WhatsApp +353 85 1477625


    Trading Address Same as Registered Office

    VAT Implications for Trade between the Republic of Ireland and the UK

    Distance sales of goodsDistance Sales of Republic of Ireland to UK (B2C sale of goods)Brexit has triggered changes post 1 Jan 2021. Irish companies who used to charge Irish VAT on B2C supplies of goods to UK Customers should not charge Irish VAT on these supplies. ...

    VALIDATION TOOL FOR VAT

    The VAT Number Validator and VIESIn order to ensure that the company you are trading with has a valid VAT number is important for online sellers. If your counter party or person you sell is not vat registered it will have different tax implications for you e.g...

    VAT AND CUSTOMS IMPLICATION FOR IMPORTING UK VEHICLES IN IRELAND

    After Brexit, since January 1st the UK is now considered to be a ‘third country’ by the EU. Hence there are implications for any transactions of trade with the UKBrexit has caused additional costs for businesses and private individuals to import second hand cars into...

    Five Top Challenges to Small Business Growth

    1. Managing CashflowHaving trouble managing your cash flow, you might want to consider the following options:   If you're having trouble with the financial side of your business, seek help as soon as possible: new knowledge can help your small business grow...

    Irish VAT rates and VAT compliance

    Irish VAT Rates As per Revenue Ireland, Following VAT Rates are currently applicable.1 March 20212313.594.85.6There are 2 Main Rates. One is Standard which is 23% and reduced rate is 13.5% which are widely used.CRITERIA FOR VAT IN IRELANDNot every business requires to...

    Working Faraway/Remotely — Tax reduction Available for Workers in Ireland

    The Covid 19 has prompted employers to get their employees to work from home whether full-time or part-time. That has an impact on employees' use of their home as a principal place to work and has resulted in some expenses. Revenue has recognized these arrangements...

    What Expenses can be claimed by Locum Doctor in Ireland

    Locum doctors may spend time on the road, traveling to different places, and may have multiple shifts in different locations. All this adds to plenty of expenses for fuel or transport in addition to subsistence costs for overnight stays (Accommodation Food etc.)....

    Rental property in Ireland

    Do you have a rental property and want to claim expenses for your income tax. Below is a list of expenses that can be claimed against your rental income. Allowable expenses include: Rates you pay to a local authority for the property Rents you pay for property such as...

    How to Value a Company

    Get your company valuedPurpose: For potential sales of your business, buyers put a value for your business or may ask you what would be the price of your venture. The key question in determining the value of the company is what value it generates. Does it have cash...

    Register your company in Ireland

     Do you want to set up a Limited Company in Ireland yourself but seek help or information what is it involved? We have created certain steps that may help to create a company using the easy steps. Companies registration office has an online portal which can be used to...