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