A corporate migration could be implemented to achieve various targets such as:
- gaining substance,
- benefiting of UAE pro entrepreneur fiscal and legal environment,
- gaining respectability and access to an onshore business market environment.
A corporate re-domiciliation permits a company, an entity, to change the laws under which it is incorporated, or registered, to the laws of another jurisdiction by transferring its domicile, or place of registration, to the new jurisdiction without losing its initial legal identity, current contractual & banking arrangements and history while benefiting of the new jurisdiction’s advantages.
The company will then continue its legal and fiscal existence as a company registered in the new jurisdiction – free zone environment (ADGM and DIFC as a PIC / Holding Company or SPV, DCCA, JAFZA, DMCC…) or mainland – while being removed from the IBC register maintained by the Registrar of its original country of incorporation to benefit of a new taxation regime, benefit of a reputable compliant environment facilitating contractual and banking arrangements, be able to recruit staff and use ultra-modern logistic and infrastructure, access a worldwide market with no initial reputational burden, to gain substance, be eligible to tax residency certificate and avail benefits of more than 85 double tax conventions reducing withholding taxes in onshore income source jurisdictions, transform an offshore IBC entity into an onshore entity following an ownership, fiscal, economic, compliant or strategic restructuring.