Offshore Opening UAE
Re-domiciliation of offshores to UAE
Re-domiciliation is a process of transferring company’s registration from one jurisdiction to another, while preserving the legal entity. A re-domiciliation is only possible if both jurisdictions allow for such process, with the necessary legal provisions. The main benefit of a re-domiciliation is that the company maintains its full history, along with all existing contractual relationships. Main reason for re-domiciliation are tax reasons, moving to a more attractive jurisdiction instead of having to wind up and transfer assets to a new entity.
Advantages of re-domiciliation:
• Stable economic environment. Therefore, stable currency rate;
• Geographic attractiveness, e.i. easy access to different financial centers;
• Flexible control and regulations;
• Access to the English jurisprudence;
• Full repatriation of capital and profit;
• No corporate tax regime;
• Availability of different corporate vehicles;
• Greater assets protections through DIFC Will and Foundations;
• Access to a number of local and international banks;
• Ability to acquire real estate in UAE Freehold areas.
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