Renewal date for Section 137 bonds for UK directors approaching
With 2023 almost upon us, many Irish companies with UK directors who took out Section 137 Bonds due to Brexit two years ago, will need to renew their Bonds from the 1st of January 2023.
The Non-EEA Resident Bond only covers a period of 2 years and must be put in place at the incorporation stage or upon the removal of the EEA resident director of the company.
Having the Bond in effect does not replace the need for or act as a Company Director. The Bond allows the company to operate without an EEA resident director.
Companies with Irish based-employees and an established presence in Ireland can also apply for a Section 140 exemption with Revenue.
For more informations, please do not hesitate to contact us at Hyland Johnson Keane
