Transfer of Domicile/Continuation 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 being able to take advantage of a tax neutral environment and/or the availability of a network of Double Taxation Agreements, to align their place of registration with their shareholder base, or to access specialist capital markets.
RAK International Corporate Centre permits companies /enterprises incorporated in other offshore jurisdictions to migrate into our jurisdiction.
The major advantages are as follows:
- The enterprise does not cease to exist.
- Move from a jurisdiction in case of any changes in the rules and regulations in the country where the enterprise have been registered.