Brexit Impact on Company Directors
Every Irish registered company is required to have at least one EEA- resident director from 1st January 2021.
Alternatively,
Sec 140: Real and Continuous Link Certificate
The company may apply it to show that it has a real and continuous relationship in one or more commercial activities in the State.
Sec 137: Non-Resident bond
No EEA director is required for companies registered holding this bond. It is an insurance bond value of €25,000 (not a cost) purchased from an insurance broker last for 2 years.
It must be recognized that failure to have at least one EEA-resident director of an Irish corporation is a criminal offense.
Reference: https://clscharteredsecretaries.ie/brexit-impact-on-company-directors/
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