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
If an existing company does not have a EEA Resident Director or a Non-Resident Bond then it may make an application to the Revenue Commissioners for a Section 140 Real and Continuous Link Certificate.This will become an important option for companies post Brexit. This certificate states the company “has a real and continuous link with
At least one of the directors of a company is required to be resident in a member State of the European Economic Area (EEA). However having an EEA-resident alternate director does not satisfy this requirement. This will become an important requirement post Brexit.
Since the historic vote for Britain to leave the EU there has been a lot of discussion and debate on the impact of the Brexit on Ireland. A small part of this is the impact from a Company Law perspective. A lot of the exemptions in the Companies Act apply to companies that are resident