Non-Resident Director Requirements For Setting up a Company in Ireland

It is possible to become a Director of an Irish company, even if you are a non-resident. Non-resident Directors or non-EEA resident Directors can set up a company in Ireland and act as Company Directors.

What is a Non-Resident Director?

A non-resident director is a company director who is not a resident of a European Economic Area (EEA) country. 

Irish Company Formation for non-Residents 

If you are resident in a country outside of the EEA and you wish to become a Director of an Irish company, you are required to have one of the following:

• One company director who is a resident of a member state of the EEA 

• A Non-Resident Insurance Bond

Non-Resident Insurance Bond/Revenue bond

The non-resident Insurance Bond also called the Section 137 Non-EEA Resident Director Bond exists to ensure that companies meet their statutory obligations, such as:

1. the filing of annual returns with the Companies Registration Office (CRO)

2. and tax returns with Revenue. The non-resident Insurance Bond insures the company for a figure of € 25,000 for a period of 2 years.

If you need further details about the Revenue Bond or guidance on fulfilling the statutory obligations for an Irish company, please reach out to us below, and we will contact you to discuss your needs.

FAQs

At what stage of the company formation is the non-resident Insurance Bond required?

You need to have the Bond in place when you submit your application to set up a company in Ireland.

Will the Bond replace the Director of the company?

The non-resident Insurance Bond does not replace the need to have a Director. What it does do is allow the company to be formed without an EEA resident Director.

How long will the Bond last?

The Bond lasts for 2 years. After 2 years the Bond will need to be renewed. 

I’m an EEA citizen but not a resident of the EEA. Do I need a bond?

A Bond is necessary. The criteria for residency differ from those for citizenship. What matters is where an individual resides.

If you would like to know more about the non-resident Insurance Bond you can contact us directly using the form below: