“Re-domiciliation” or “Transfer of Domicile” is the process by which a company/enterprise moves its domicile from one jurisdiction to another by changing the country under whose laws it is registered or incorporated, while maintaining the same legal identity.
Companies re-domicile or opt for Transfer of Domicile for a variety of reasons. The most important one is to take advantage of more favourable tax laws to align their place of registration with their shareholder base. The other reason is to gain access specialist capital markets.
The major advantages of Re-domiciliation are:
1) Companies can maintain their existing legal status.2) The goodwill and the banking history can be maintained.3) The operational history of such companies can be preserved.4) From a compliance perspective: UAE is a “white listed” jurisdiction with OECD and FATF.5) UAE offers a “one-stop-shop” for business facilitation through our professional infrastructure which includes the Registered Agents regulated by RAK ICC, stable banking and concrete AML/CFT counter measures.6) UAE offers a valuable alternative to jurisdictions traditionally labelled as “offshore centre” facing extreme scrutiny internationally.7) RAK ICC Regulations allow for flexibility in the company structure via the varying types of companies that may be incorporated i.e.
a company limited by shares
a company limited by guarantee that is may or may not be authorised to issue shares
an unlimited company that is authorised to issue shares
a segregated portfolio company
a restricted purposes company and in the different classes of shares allowable under these structures.