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Re-domiciliation
Some clients may find that a move to another jurisdiction will allow them greater flexibility in the operation of their company and, in some cases, lead to a reduction in annual charges or taxes.
Re-domiciliation is the continuation of existence of a company while relocating its domicile.
Some jurisdictions make it easy to re-domicile in or out, some make it more difficult, and in some cases the law does not provide for re-domiciliation at all. It is important to ensure that the name of your company is not already in use or reserved in the destination.
A cheaper and simpler alternative can sometimes be to form a new company with the same name in the destination jurisdiction, and then to migrate the assets from the old company to the new company, finally letting the old company die.
The re-domiciliation process can be quite complex and requires a clear understanding of the laws of the countries involved and the correct procedures to be followed.
Ancroft can advise on the feasibility of a re-domiciliation for your company, and can estimate both timescale and fees. We can then handle all aspects of the process.
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