Following changes passed today in the Companies Amendment Act 2009, non-Irish resident directors will no longer have to provide a s43 bond to incorporate an irish limited company. This will save new Irish companies bi-annual cost of € 1,800 approximately and is seen as a siginificant boost to new business start-ups.  S 10 of the Act lays down the criteria which includes the list of countries in EEA area, currently totalling 30 in all.

Whilst the act has to be signed by the President to take legal effect, I understand that any applications received after today will not require the bond with the application. However any bonds that expired before today are likely to need renewing.

If you require any assistance or explanations on how the above may affect your company, you are welcome to contact us to discuss. O’Mahony Donnelly Chartered Certified Accountants Contact Details