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Company transfer (redomiciliation) to another jurisdiction
If the country of incorporation of the company has lost its former advantages, it is not always worth liquidating it. There is an alternative legal possibility to "relocate" the business to another more profitable and promising jurisdiction and give it a second chance.
This procedure is referred to as "redomiciliation" and allows the company, retaining its former name and organizational structure, to change the place of registration and, accordingly, activities. There are countries that at the legislative level prohibit the relocation of corporate entities, and allow you to act only according to the scenario of the liquidation of the company and the creation of a new one. But if the old company has reputational weight, well-established connections and a reputable name, redomicile is the most profitable solution. The main thing is not to make a mistake with the country.
- the country of incorporation has ceased to provide tax benefits;
- requirements for real presence (substance) appeared;
- the jurisdiction is subject to sanctions or restrictions;
- regular tightening of local legislation;
- business has lost its profitability and relevance in the country;
- change of main contractors and partners;
- entering new markets;
- the annual maintenance of the company has become much more expensive;
- the activity fell under licensed or prohibited;
- inability to open a bank account;
- appearance of currency control;
- economic instability or default of the country.
- Analysis of the current state of the company
- Choice of jurisdiction for transfer
- Preparation and collection of a package of documents
- Submission of a request for redomicile in the country of registration
- Checking the validity of the use of the corporate name
- Applying for redomicile in the country of relocation
- Obtaining a Certificate of Continuation
- Deletion of a company from the Register of the country of initial registration
Under the redomiciliation procedure, the company remains under the same corporate name (if it has not been used previously in the country), has the same legal form, ownership structure, assets, etc. The key change is the change of registered address and registration agent. The company's founding date remains the same as the original date. When moving, it may be necessary to open a local bank account and obtain permits if the activity is subject to licensing, which our lawyers will also help with.