Nominee Director Service
How to become a Director of an Irish Limited Company?
Directors are usually appointed to Irish companies because they are in charge of the management of the company. Sometimes, they are the founder of the company and want to set up a business themselves.You can form a company yourself and appoint yourself as a Company Director, or maybe a company hires you to be the Director because you have excellent skills that they need.
As a Director of an Irish company, you need to be aware of your fiduciary duties. This means you have legal obligations to act in the best interest of the company. Therefore, it’s a huge commitment to become a Director and it’s not a role that should be offered without considering what it actually means to be a Director.
If you are thinking about setting up a Limited Company in Ireland, talk to our Client Services Team. We are always happy to talk you through the services we offer to help make this journey as smooth as possible.
Directors’ statutory duties are:
- Duties as a company officer under the Companies Act
- Duty to maintain proper books of account and prepare annual accounts
- Duty to have an annual audit performed
- Duty to maintain certain registers and other documents
- Duty to file certain documents with the Companies Registration Office
- Duty of disclosure of certain personal information
- Duty to convene general meetings of the company
- Duties regarding transactions with the company
Types of Company Directors
There are five types of Directors outlined by the Office of the Director of Corporate Enforcement (ODCE). All these types of Directors have the same legal duties under the Companies Act 2014.
Non-executive Director
A non-executive Director is usually hired by a company because such an individual is expected to possess a specific skill set and experience. You are obliged to monitor and challenge the performance of the management of the company.
Executive Director
An executive Director will have a far more intimate relationship with the management of the company.
De facto Directors
This type of Director performs the duties of a Director even though they are not formally appointed by the company. They take on the role themselves.
Shadow Directors
These Directors are also not formally appointed as Directors but give instructions that are usually
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