The Resident Director in Ireland

Appointment of company directors in Ireland

The residency of company directors in Ireland      

•  - for at least 183 days in 12 months,
• - one more times amounting up to 183 days in a 12 month period.

What are the duties of Irish resident directors?

• - exercising their power in a good faith and in the best interest of the company,
• - not disclosing confidential information or make personal profits from such information,
• - to exercise their functions with care, skill and appropriate diligence.

• - to maintain the account records,
• - the prepare annual financial accounts,
• - the make sure an annual audit is carried out,
• - to maintain all relevant registers and documents,
• - to file documents with the Companies Registration Office in Ireland,
• - to make public certain personal information,
• - to assemble the company’s general meetings,
• - duties regarding certain financial transactions,
• - to discharge any duty arisen from liquidation or insolvency procedures.

Types of resident directors in Ireland

• - the shadow director that is usually a holder of the majority shares in the company has a great influence over appointed directors,
• - the alternate director appointed to act on behalf of the director while absent,
• - the executive director that are involved in the daily management of the Irish company,
• - the non-executive director that are independent directors from outside the company.

Replacement of directors in Ireland

Using nominee directors in Ireland

Foreign investments in Ireland

• - at the level of 2021, there were more than 1,600 foreign companies operating in Ireland;
• - they employed more than 250,000 workers;
• - the foreign investments made by these companies represent around 20% of the country’s economy.