Non-EEA Resident Director Bond

What is a Section 137 bond?

A Section 137 bond is a two-year insurance bond required under Section 137 of the Companies Act 2014 when an Irish company has no director resident in the European Economic Area (EEA). It provides EUR 25,000 of cover towards certain fines and penalties for failures to file under the Companies Act 2014 and the Taxes Consolidation Act 1997. It lets a non-EEA founder act as sole director without appointing a separate EEA-resident director.

What a Section 137 bond costs

The bond is a third-party insurance product, so the premium is provider-dependent. As a guide, a two-year bond costs around EUR 2,000. It is non-refundable and must be renewed every two years for as long as the company has no EEA-resident director. We arrange the bond and file it with your incorporation, so there is nothing separate for you to organise.

Section 137 bond or an EEA-resident director?

Non-EEA founders meet the Section 137 requirement in one of two ways:

Section 137 bond – you remain the sole director and the bond covers the EEA-residency requirement. Best if you want to hold the director role yourself.
Resident director service – we provide a genuine EEA-resident director for your company. Best if you prefer a licensed provider to hold the statutory role. See our resident director service.

A third route, the Section 140 real and continuous link exemption, is available if the company can demonstrate genuine ongoing business in Ireland and obtains Revenue confirmation.

Who needs a Section 137 bond?

Any Irish private company (LTD) whose directors are all resident outside the EEA, unless it holds the Section 140 exemption. This most often applies to non-EEA founders incorporating remotely. Our non-resident company formation package includes an EEA-resident director as standard; the bond is the alternative if you would rather be the sole director.

How we help

As a licensed Trust or Company Service Provider (TCSP) we arrange the Section 137 bond and file it as part of your company formation. Contact us and we will confirm the current premium and handle the paperwork.

Frequently asked questions

How much does a Section 137 bond cost?
It is a third-party product with provider-dependent pricing. As a guide, around EUR 2,000 for a two-year term, non-refundable.

How much does the bond cover?
EUR 25,000, towards certain fines and penalties under the Companies Act 2014 and the Taxes Consolidation Act 1997.

How long does it last?
Two years. It must be renewed every two years while the company has no EEA-resident director.

Bond or resident director, which is cheaper?
The bond is usually the lower upfront cost if you act as sole director; a resident director service is an annual service. We can advise based on your plans.

Written by Olha Bespalova, CoSec and Legal Officer at Chern & Co Ltd

Olha Bespalova is an International Lawyer at Chern & Co Ltd, advising on cross-border legal structures, corporate compliance, and international business law. A graduate of Mariupol State University's law faculty, Olha specialises in the legal requirements for non-EU founders registering companies in Ireland, including EEA director obligations, Section 137 Bond requirements under the Companies Act 2014, and nominee director structures. Based in Tbilisi, Georgia, she works with clients across Eastern Europe, the Middle East, and beyond.

View profile on LinkedIn →

Reviewed by Tetiana Sytnik, Certified Accountant ACCA

Why Choose Chern & Co?

Safe & Trustworthy

All payments are encrypted and handled via trusted providers. Your corporate data is processed securely and confidentially.

Flexible Payments

Visa, Mastercard, Crypto, American Express, PayPal, Apple Pay. Clear invoices and instant receipts for every order.

Leading Authorised Agent

Certified CRO agent with deep expertise in Irish company law and non‑resident formations.

Transparent Terms

Clear online terms & conditions, fixed prices, and no hidden fees across all services.

Dedicated Support

Guided registration for EU and non‑EU residents with responsive, expert assistance.

FAQ Section

Do I need to be physically present in Ireland to set up a company?

No, physical presence is not required. You can register a private company limited by shares or a company limited by guarantee entirely remotely, with all documents signed digitally and couriered where necessary.

How long does it take to register a company in Ireland?

The process typically takes 7–10 working days after completing AML/KYC checks and preparing your documentation. Timelines may vary depending on CRO processing times and additional registrations, such as intra-EU VAT registration.

What payment methods are accepted for company registration?

We accept bank transfers, major credit/debit cards, crypto payments, and selected online payment systems. All fees must be paid in advance before we start the incorporation and standard business occupation registration process.

Can I set up a business in Ireland from abroad?

Yes. Many of our clients are non-residents. We handle the full process remotely, including providing a registered Irish address, company secretary services, and nominee director options for compliance with Irish law.

Can I register a company without an Irish address?

No, every Irish company must have a registered office in Ireland. Our Prime Business Formation Package includes a compliant Irish address service for official correspondence and CRO filings.

What is the Prime Business Formation Package?

It’s our all-in-one service for non-residents. It covers incorporation, registered office, company secretary, nominee director (if needed), RBO filing, tax registrations, and support with intra-EU VAT registration.

What documentation do I need to incorporate a company in Ireland?

You’ll need passport copies and proof of address for all directors, shareholders, and beneficial owners. Additional documents may be required for specific activities or if you plan an intra-EU VAT registration.

What are the benefits of starting a business in Ireland?

Ireland offers a 12.5% corporate tax rate, EU market access, strong international reputation, and straightforward compliance procedures. We also assist with company strike-off if you later decide to close your business.

What types of companies can I register in Ireland?

Most clients choose a private company limited by shares, but we also assist with company limited by guarantee and other structures depending on your goals and business occupation type.

Regulatory Disclosure

Chern & Co Ltd is a licensed Trust and Company Service Provider (TCSP) in Ireland, authorised and supervised by the Department of Justice.

Our official registration reference is TCSP APP/1211/2018, and we are listed in the public TCSP register maintained by the Irish Anti-Money Laundering Compliance Unit.

Compliance • AML • TCSP

See what our clients say:

Dennis Hoffmann
Ad.run

“Outstanding service!
Extremely professional, fast and friendly.
Would recommend them at any time!”

Max Malloy
Photography

“Outstanding service!
“Excellent service, very fast and responsible team, highly recommended! Registered my company just in few days with no problems”

Danil Sonin
Amazon Seller

“Great service. Recommending.
I met Alex at a conference.
I am fully satisfied with our cooperation”

Hichem North
Entrepreneur, Surfer

“This company is one of the best in the EU. They know what they are doing and they communicate with you effectively so that they understand your needs”

LTD Companies and Partnerships For Overseas Residents

Not in the Ireland? We offer a wide range of international packages

Chern & Co team offers Registered Office Address, Business Address, Company Secretary, Nominee Director, Nominee Shareholder and other professional services to international customers who need to set up a branch or present in the European Union.