As we get closer to the expiry of the Withdrawal Agreement between the UK and the EU Irish companies that have only UK resident directors must consider the impact of the UK leaving the EEA.
If thereafter there is no agreement in place, companies which have only UK resident directors will be required to comply with section 137 Companies Act 2014. This is the requirement to have an EEA-resident director.
EEA Resident Director
Every Irish registered company is required to have an EEA Resident Director. The alternatives to having a EEA Resident Director are:-
Any UK companies looking to incorporate in Ireland or existing Irish Registered companies will have to ensure they comply with the requirements from 1st January 2021 in the event of a No-Deal Brexit.
If you require assistance with obtaining a Sec 137 Bond or a Sec 140 Real and Continuous Link, please feel free to contact any of the team.
Note: The content of this article is provided for information purposes only and does not constitute legal or other advice.