Irish directors of corporate bodies are now subject to increased transparency, linked to the official use of their Personal Public Service (PPS) numbers for government functions. This not only helps ensure accuracy with regard to taxes and social welfare programs but also serves as a preventative measure against identity theft - since PPS numbers remain out of public domain access.
Every director will be required to disclose their PPS number on all:
- A1 (incorporations)
- B1 Annual Returns &
With the introduction of this new requirement, The CRO is now able to ensure that every individual has no more than 25 active directorships at a time. This law enforcement will put an end to those attempting to get around Section 142 of the Companies Act 2014 by using alternate names like Patrick/Paddy or Robert/Bob - PPS numbers are about to make sure everyone follows this rule! For the first time since its founding, The CRO is verifying their customers and making it easier for them all play fair in Ireland's business world.
Some directors of Irish companies, such as those who live abroad and do not have a PPS number, may find themselves needing to apply for a CRO number in the absence of an RBO from the Register of Beneficial Ownership. To obtain one's RBO through this route, they must complete and swear by affidavit via oath with a Notary Public all their particulars on BEN2 form.
For anyone who holds at least 15% of a company's ordinary shares in Ireland, the law demands not only that you register for a PPS number but also prepare and file an annual tax return. As proprietary director, it is your responsibility to keep up with these legal obligations!