Company ‘re-domiciliation’ is when a company moves its registration from one country to another. This effectively moves the legal entity including all of its assets and liabilities to be regulated under the law of the new country. The company business can then continue and is legally the same entity as before.
Many clients wish to re-domicile for commercial reasons, be it the favourable tax regime on the Island, the reputation of the Island as a leading international business centre or its convenient location and connections to both the UK and European Union.
The Isle of Man also offers practical solutions for business looking to relocate – substance regulations more than ever require businesses to demonstrate management and control, and the Island has the infrastructure, space and resources including a highly skilled professional workforce.
Legal – With the oldest continuous parliament in the world, the Isle of Man is a politically stable jurisdiction with a legal framework based on English common law. The Island allows for the re-domiciliation of companies per the Companies (Transfer of Domicile) Act 1998, and we have considerable experience in assisting clients with each stage of the process.
- Governance and independence;
- Corporate Vehicles;
- Asset Management;
- Administration Services;
- Accounting Services;
- Tax and Compliance Support.