Brexit Planning for UK owned Irish Companies 

Many UK businesses operate in Ireland through Irish registered companies and this may become even more common as UK companies look to maintain operations and trade with the EU in a post Brexit world. 
 
However, if all of the directors of an Irish company are UK resident, post Brexit they will need to take steps to comply with Irish company law. 
 
What action is required? 
 
1. Consider appointing at least one director who is a resident in the European Economic Area (EEA); or 
2. Put in place a Section 137 Revenue Bond. A Section 137 Revenue Bond acts as a type of insurance to the sum of €25,000 to cover non-filing of accounts etc. The bond covers a period of two years; or 
3. Provide a 'Real & Continuous Link' to the state. It will be the Irish Revenue who decides whether the company has a real and continuous link with Ireland and will consider a number of factors e.g. presence in Ireland, the tax returns, number of employees in Ireland etc. If the Revenue decide that there is a real and continuous link then the CRO will issue the certificate. 
 
 
T: 01 546 1072 E: gboland@bolandlaw.ie info@bolandlaw.ie 
 
This briefing is for general guidance only and should not be regarded as a substitute for professional legal advice. Legal advice should always be taken before acting on any of the matters discussed. 
Tagged as: Brexit
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