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Forming a New Company?

By January 5, 2023June 26th, 2024No Comments

Forming a New Company?

It is expected that section 35 of the Companies (Corporate Enforcement and Authority) Act 2021 will become effective in quarter one/ early quarter two 2023.

This will require that in the following circumstances the Personal Public Service Number (PPSN i.e. tax number of directors will be required in the following circumstances:

  1. Incorporating a new company, i.e. filing a new Form A1
  2. Filing an annual return (Form B1)
  3. Notifying a change of director (Form B10)

The PPSN number will not be visible publicly but will be used by the CRO personnel so that to double check that directors are not in breach of current legislation i.e. by being directors in excess of the maximum number of directorships that are permitted.

It is also important that companies make sure that the director’s details which are provided to the CRO match the director’s record with the Department of Employment Affairs and Social Protection (DEASP).

If a director does not have a PPSN i.e. it may be non-resident, then they will have to apply for a CRO filing number, which is likely to be a similar process for obtaining a register of beneficial ownership (RBO) transaction number.

For any information on this or any other company/business law matter, please don’t hesitate to contact Brendan Dillon or Lorna McArdle on 012960666.