The Companies (Accounting) Act 2017 (the “2017 Act”) significantly amended and updated the Companies Act 2014 (the “Act”). Under the 2017 Act, all unlimited foreign incorporated bodies that are subsidiaries of limited liability bodies corporate, with a branch in Ireland, will be subject to certain registration and filing obligations.
These obligations in the Act currently apply only to a foreign body corporate with limited liability that has established and maintains a branch in Ireland. Although the Act does distinguish between the filing and disclosure obligations of an EEA company and those of a non-EEA company, in broad terms, the requirements include:
- filing with the Companies Registration Office a certified copy of its constitutive documents within 30 days of registration;
- disclosure of accounting documents; and
- disclosure in certain business documents and translation of documents.
The 2017 Act commenced on 9 June 2017. However the extension of these requirements to relevant foreign incorporated unlimited bodies has not yet commenced so as to allow these bodies corporate time to prepare for the application of the requirement. A further order is expected to be published soon to commence this requirement.