No Deal Brexit - Are You At Risk?

1. Appoint another Company director who is resident in EEA but outside of the UK:

• If a new EEA resident director is appointed this will mitigate the company compliance risk for a No-Deal Brexit outcome.
• In certain circumstances, international companies setting up in Ireland may want to employ the services of an Irish resident director in a non-executive capacity. We can assist with this.

Or

2. The company will have to put in place a bond to the value of €25,000 with a minimum period of validity of two years and with further actions required every two years subsequently:

• The bond would act as an insurance policy against any of the following penalties.
• Fines imposed on the company in respect of offences under the Companies Act 2014. (e.g. failure to file Annual Returns & Audited Accounts on time)
• Fine for failure to supply certain information to the Revenue Commissioners. (e.g. Form CRO 11F)
• Any penalty which the company has been held liable to pay under the Taxes Consolidation Act 1997.
• Any cost in recovering any of the above fines.

Or

3. Application to certify that the company has a real and continuous link with the state:

• There is a requirement for the company create significant local employment and have a significant economic link which then requires approval by Revenue.