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Defining Company Migration,continuation and re-domiciliation

20 February 2019
The process of Company Migration,sometimes referred to as Re-domiciliation or Continuation,refers to de-registering a company in one jurisdiction and re-registering in another jurisdiction.

As the name suggests,continuation has the advantage of continuity:while it is amending its registered address,the company doesn’t cease to exist;there is no interruption or disruption to business,and the company keeps its original date of incorporation.In a nutshell,the company continues to exist but has simply migrated to another jurisdiction!

Why do that?simply because the original reasons why a company was incorporated in a particular jurisdiction might no longer be valid,and another jurisdiction may present advantages that the original jurisdiction does not.

It is clearly easier for a company to apply to continue in another jurisdiction than to wind-up the said company and transfer each individual asset,corporate contract or item of property to a new company.

The process is actually quite easy.Assuming that both jurisdictions allow the continuation procedure,the company would have to submit documents such as a special resolution confirming the company’s intention to migrate,the articles of continuation,a director’s solvency statement and a registered agent consent letter.Other documents may be required depending on the complexity of the case,but generally,the whole process can be completed in about 10 days.

Should you wish to re-domicile your company,please contact SFM.We have over 15 years of experience in this field.

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