On the 8th May 2023 the CRO released their official roll out for the new PPSN Project. This will involve new PPSN requirements for Company Directors. It will be implemented from 11th June 2023. It will require all Irish Based Company Directors to provide their PPSN when uploading certain submissions.
What Are The New Requirements?
The new requirements for Directors will be the disclosure of a PPSN when filing the following forms with the CRO.
- A1 Form – Company Incorporation
- B1 Form – Annual Return
- B10 Form – Change of Director and/or Secretary
- B10a Form – Change of residential address where a director is involved in multiple companies
B69 – Notification by the individual that he/she has ceased to be a director/secretary
Why Is This Being Implemented?
The PPSN will be used to verify the directors identity in order to verify them as an actual person. It is important to make sure that people are who they say they are to avoid any company formation or furthering of any fraudulent companies. This new implication is an attempt by the CRO to reduce and minimalize the risk of identity theft and ensure all information held by the CRO is accurate.
Non-Resident Director Requirements?
PPSN numbers are provided to Irish residents only. Therefore, non-resident directors need someway of providing the CRO with personal information for verification purposes. The two options for non-resident directors will be an RBO number or to register for a VIN number.
- RBO – If you were previously involved in an Irish Company and listed on the register of beneficial owners then you will have an RBO number. This can be provided to the CRO instead of a PPSN.
- VIN (Verified Identity Number) – If you have neither an RBO or a PPSN you may only then apply for a VIN. Applying for a VIN when you already have an RBO number or PPSN will be classed as an offense under the Companies Act 2014. It can be applied for via application form. It will require the disclosure of the directors Name, Date of Birth, Nationality, Residential Address. It will also contain a Statutory Declaration stating whether the declaration is being generated within the state or outside the state. The final signature prints must be wet ink and any digital or electronic form of signature will be revoked.
How Will I Remain Protected?
The CRO will keep the PPSN encrypted. The CRO nor the public will be able to access it for viewing. A complex mathematical technique known as hashing will be used to encrypt. Furthermore, it will not be printed on any forms. Irish Formations also encrypt all information being entered into the website.
How do I get incorporated?
We incorporate companies in the same way as before. Your information is entered into our website and we then generate all documentation to get your PDF documents emailed to you. Our goal is to incorporate you with such a high standard so when 3rd parties (banks, suppliers etc) do their due diligence on your company, its compliance is of a high standard. Take a look at our packages for Foreign Directors, and for Irish Resident Directors.