EEA Directors and Brexit - Crowe Ireland

EEA Resident Directors and Brexit

18/02/2020
EEA Directors and Brexit - Crowe Ireland

Following the UK’s departure from the European Union on 31 January 2020, transitionary arrangements are in place until 31 December 2020.  During this period, the UK’s relationship with the EU will remain the same. 

For the duration of the transition period, UK resident directors will continue to be deemed resident within the EEA and will therefore continue to be compliant with Section 137 of the Companies Act 2014 which requires Irish registered companies to have an EEA resident director. 

If, at the end of the transition period, no agreement is in place or no extension is granted, then Irish companies that only have UK resident directors appointed, will be required to either appoint an EEA resident director, obtain a non-resident director bond or apply for a certificate that confirms that the company has a real and continuous link with one or more economic activities carried on in the State. 

For UK companies with an Irish-registered branch, in the absence of an agreement or an extension to the transitionary period, the Irish branches will become subject to filing information under the rules for non-EEA countries.    

Similarly, when registering an Irish branch of a UK-registered company, the UK company will be treated as a non-EEA country and the application for registration must be completed as such. 

If you have any queries in relation to this or any other aspect of your company secretarial requirements, please do not hesitate to contact our Company Secretarial Department or any of your normal contacts in the firm.