Bond for Non-EEA Resident Director
Stay compliant with Irish company law when appointing non-EEA directors
What Is a Section 137 Bond?
Irish company law requires that if a company has no director resident in the European Economic Area (EEA), it must put in place a Section 137 Bond.
This bond is essentially an insurance policy in favor of the Revenue Commissioners and the Companies Registration Office (CRO). It covers potential penalties (up to €25,000) if the company fails to comply with certain obligations.
Who Needs It?
- Irish companies with only non-EEA resident directors
- Newly incorporated companies where all directors live outside the EEA
- Businesses expanding into Ireland without appointing an EEA resident director
What’s Included in Our Service?
- Assistance with sourcing and arranging the Section 137 Bond
- Guidance on compliance obligations to avoid triggering penalties
- Coordination with insurance providers for best pricing
- Filing and confirmation with the CRO
Why It Matters
· Legal Requirement – Companies without at least one EEA-resident director must have a valid Section 137 Bond in place.
Avoid Fines – Protects against non-compliance penalties of up to €25,000.
Smooth Incorporation – Ensures your company setup in Ireland is not delayed.
Frequently Asked Questions
How long does a Section 137 Bond last?
The bond is valid for two years and must be renewed if no EEA-resident director is appointed by then.
Can I avoid the bond requirement?
Yes, by appointing at least one director who is an EEA resident.
How much does the bond cost?
The cost varies depending on the provider and company circumstances. We’ll help you find the most competitive option.
