If one of the Directors of your company is an EEA Resident, this Non-Resident Director bond is not required. The EEA consists of the 28 member states of the EU, (Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, & Sweden plus Iceland, Liechtenstein and Norway) The U.K. is no longer a member due to Brexit.

Where there is no director of the company who will be resident in the EEA a Non Resident Director Bond can be put in place for the company for a minimum term of two years.

The Non-Resident Director bond comes under Section 137 of the Companies Act 2014 (Section 43 under the old act). The Bond insures the company for a sum of €25,394.76 and its purpose is to make sure that the company completes the required submissions with the Revenue Commissioners, and the Companies Registration Office. Irish Formations can organise these bonds for non-resident directors prior to incorporation, or for companies renewing the bond.