Non-EEA Resident Director Bond

A Section 137 bond lets an Irish company operate without an EEA-resident director. Chern & Co arranges and files the two-year, EUR 25,000 statutory bond as a licensed TCSP, from EUR 2,000. It is the fastest way for non-EEA founders to meet the Companies Act 2014 director requirement without appointing a nominee.

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.

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Reviewed by Tetiana Sytnik, Certified Accountant ACCA

Frequently asked questions

What is a Section 137 bond?

A statutory insurance bond under Section 137 of the Companies Act 2014 that lets an Irish company operate without an EEA-resident director. It provides EUR 25,000 of cover for a two-year term against certain fines and penalties.

Who needs it?

Companies whose directors are all non-EEA resident and who do not appoint an EEA-resident or nominee director.

How much does it cost?

From EUR 2,000 for the two-year bond, arranged and filed by us as a licensed TCSP.

How long is it valid?

Two years. It must be renewed to keep the exemption in place.

Bond or nominee director, which do I need?

Either satisfies Section 137. A bond avoids appointing a director; a nominee director can be preferable for banking and substance. We advise based on your circumstances.

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.

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

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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.