Every company is required to have at least one director who is resident in a member state of the European Economic Area (“EEA”).
Pursuant to section 141 Companies Act 2014, a person is resident in the State at a particular time (the relevant time) if – he or she is present in the State at –
- any one time or several times in the period of 12 months preceding the relevant time (the immediate 12 month period) for a period in the aggregate amounting to 183 days or more, or
- any one time or several times –
- *in the immediate 12 month period, and
- *the period of 12 months preceding the immediate 12 month period (the previous 12 month period),
for a period (being a period comprising in the aggregate the number of days on which the person is present in the State in the immediate 12 month period and the number of days on which the person is present in the state in the previous 12 month period) in the aggregate amounting to 280 days or more, or that time is in a year of assessment (within the meaning of the Taxes Consolidation Act 1997), in respect of which the person has made an election under section 819(3) of that Act.
For the purposes of subsections (8) and (9) -references in this section to a persons being present in the State are references to the persons being personally present in the State, and a person shall be deemed to be present in the State for a day if the person is present in the State at any time during the day.
The European Economic Area member States are:
Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.
Exceptions
The requirement to have a EEA Resident Director does not apply to any company that for the time being holds a Sec 137 bond or a Sec 140 Real and Continuous Link certificate.
Note: The content of this article is provided for information purposes only and does not constitute legal or other advice.
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