In Conor Sweeney's recent article on the Companies (Amendment) Act 2009, Conor highlighted one of the main amendments in the Act was the requirement to have a Resident Irish Director. The Act now provides that all Companies registered under the Companies Acts with the Companies Registration Office (CRO) must have a Director who is resident in the State of the European Economic Area ("EEA"). The residency rules are the same as the tax residency rules in that the Director must be resident in the European Economic Area for 183 days in the previous 12 months. The Companies Registration Office have amended Information Leaflet 17 in relation to the requirement to have an European Economic Area Resident Director.
A company that is already incorporated and is required to renew their Sec 43 Bond, maybe in a position to apply for a statement from the Revenue Commissioners, stating that the company "has a real and continuous link with one or more economic activities that are being carried out in the State", the company is then exempt form the requirement to have a EEA resident Director. The statement must be filed at the Companies Registration Office who grant the certificate.
If you require a Resident Bond, Certificate of Real and Continuous Link or have any Company Law queries, please contact Conor Sweeney on 059 9183888 or csweeney@omnipro.ie
