Continuation or transfer of Domicile is the process where an entity moves its domicile from one jurisdiction to another. This is done by changing the country under whose law it was incorporated or currently registered while maintaining the same legal entity. There are various reason to perform this exercise, one of which is to be able to take advantages to the Jurisdiction’s Double Taxation Agreements. Others would be something like, to align the place of registration with the shareholder base or accessing a specialist capital market.
Most UAE IBC provider allows company or enterprise incorporated in other jurisdiction to migrate to UAE.
The advantages would be:
- A matter of continuation, the company can “continue” to exist in another jurisdiction
- Some changes in the existing jurisdictions started to become unfavourable to the company, UAE have a very high degree of flexibility and minimal documentation.