Companies Act 2014 section 140

Exception to section 137 — companies having real and continuous link with economic activity in State

Section 140 provides an exemption from the requirement to have an EEA-resident director for companies that can demonstrate a real and continuous link with economic activities carried on in the State.

• A company with a valid certificate from the Registrar confirming a real and continuous link with economic activity in the State is exempt from the requirement to have at least one director resident in an EEA state.
• To obtain the certificate, the company must provide the Registrar with a written statement from the Revenue Commissioners, issued within two months before the application date, confirming that Revenue has reasonable grounds to believe the company has such a link.
• The Registrar must revoke the certificate if information comes to light — whether directly or via a notification from Revenue — that the company has ceased to have a real and continuous link with any economic activity in the State.
• A company satisfies the "real and continuous link" test if its affairs are managed from a place of business in the State by authorised persons, it carries on a trade in the State, or it is a subsidiary or holding company of a body corporate that meets either of those conditions.

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