EEA Resident Director Services

EEA Resident Director Services

An Irish registered company must have at all times:

• at least one of its Directors that is resident in a member State of the European Economic Area (‘the EEA’) (States listed below); or
• hold a bond as set out below to the value of €25,000; or
• hold a certificate of real and continuous link with an economic activity carried on the State.

Bond
The bond must be in the prescribed form to the value of €25,000 and provide that in the event of a failure by the company to pay a fine in respect of an offence committed by it under the Companies Act 2014 and/or a fine in respect of an offence committed by it under certain sections of the Taxes Consolidation Act 1997, a sum of money becomes payable under the bond in discharge of the whole or part of the company’s liability in respect of any such fine or penalty.

Certificate
A company must hold a certificate from the CRO confirming that it has a “real and continuous link with one or more economic activities that are being carried on in the State”.

In order to obtain a certificate that it has such a link, the company will have to satisfy the Revenue Commissioners that one or more of the following conditions are satisfied by the company:

(a) the affairs of the company are managed by one or more persons from a place of business established in the State and that person or those persons is or are authorised by the company to act on its behalf;

(b) the company carries on a trade in the State;

(c) the company is a subsidiary or a holding company of a company or another body corporate that satisfies either or both of the conditions specified in paragraphs (a) and (b);

(d) the company is a subsidiary of a company, another subsidiary of which satisfies either or both of the conditions specified in paragraphs (a) and (b).

The EEA member States other than Ireland are listed below

We are available to advise you in relation to arranging for the procurement of a bond and in applying for certification of a real and continuous link with an economic activity carried on in the State.