We have received many enquiries recently on the subject of Company Law requirements for Directors of an Irish Limited Company. The information held by some on this subject can be somewhat mis-led, out of date or plain confused!
Directors residency is a significant and also potentially costly issue when incorporating an Irish limited company.
The current requirement for forming an Irish limited company is that at least one of the two Directors is an EEA resident (EU plus Norway, Iceland & Liechtenstein). Previously one of the Directors had to be Irish resident.
Without an EEA resident Director then the company is required to take out a s43 bond insurance policy, which costs a substantial sum.
You may be an entrepreneur, completely new to business or someone who is unfamiliar with the current legal position for Directors. If you would like further information and assistance with incorporating an Irish limited company please see O’Mahony Donnelly Contact Details.
Tags: Company Law requirements, Directors residency, EEA resident Director, forming an Irish limited company, incorporating an Irish limited company, irish limited company, Irish resident, s43 bond, Setting up a Limited Company
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