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Trustworthy Affordable Foreign Company Re-domiciliation Services
NetworkBD has successfully handled several company re-domiciliations from a range of countries, as well as simple and sophisticated company migrations. If you’d like to schedule an initial consultation to talk about your company needs, please fill out the form below and we’ll get back to you as soon as possible. If you require additional technical knowledge, we can arrange for a conversation with a local specialist.
The process of company migration, also known as company re-domiciliation, involves de-registering a company in one jurisdiction and re-registering it in another. Company Re-domiciliation may be necessary if the original reasons for incorporation in a particular jurisdiction are no longer valid or if another jurisdiction offers benefits that the original jurisdiction does not.
Continuity is provided by domiciliation. Although the company’s address and governing laws and regulations will change, it will continue to operate normally as a whole. This means that the company retains its history, its legal identity, and the date at which it was incorporated.
The alternative to company re-domiciliation is to liquidate the current company and transfer each asset, contract, and item of property to a new company incorporated in the new jurisdiction.
The company can easily apply to continue in another jurisdiction rather than to wind up and transfer all assets, and some countries allow foreign companies to change their jurisdiction.
Re-Forming A New Country With Company Re-Domiciliation Services
In some situations, the procedure of company re-domiciliation, also known as continuation or company migration, is a viable alternative to forming a new company. A firm or legal entity is re-domiciliated when it is de-registered in one nation and re-registered in another. To put it another way, the corporation just travels from one country to another, and as the name implies, it benefits from continuity.
There are numerous reasons for a business to relocate or continue operations in another country. The new country may provide a more favorable commercial or fiscal climate, or the initial reason for forming a company in a specific country may no longer be relevant or viable.
Why You Re-domiciliation Your Company?
1. Laws governing taxes
Dominica, for example, recently enacted a business tax, forcing many companies to relocate to a tax-friendly jurisdiction.
2. Regulatory requirements
Some clients have re-domiciled to protect their privacy because the BVI introduced a public record of ownership.
3. Location of operations
Several countries, particularly in the EU, essentially blacklist specific jurisdictions, forcing relocation to a country that is not on the blacklist.
4. Markets for capital
Captive insurance firms, for example, are frequently used to get access to certain capital markets in a given jurisdiction.
5. Banking
Banks have ‘blacklisted’ certain jurisdictions and will not give services to corporations registered in certain jurisdictions.
We at NetworkBD have the knowledge and experience to assist fully with the re-domiciliation of a company. Our service will be responsible for the correct completion of relevant forms, collection of required documentation, and submission to NetworkBD Registrar of Companies, through to completion and the obtaining of the Certificate of Continuity of the foreign company with NetworkBD.
Some Advantages of Company Re-domiciliation
The benefits of company Re-domiciliation are subjective, and they usually require weighing the extra expenses of re-domiciling against the difficulty (and costs) of not doing so.
A client, for example, established a Caribbean company a few years ago. He has been offering consulting services to a handful of significant European corporations and has used this company to purchase a house. The customer needed to re-domicile his business due to changes in tax rules affecting offshore jurisdictions. He was successful in having his company re-domiciled to a European jurisdiction that was acceptable to contract partners.
The client did pay some expenditures as a result of the re-domiciling, but the firm was able to maintain its legal existence as of the original formation date, and the property remained in the same legal ownership.
Redomicile is easier and more practical than liquidation and re-formation in a new country.
Migrate with all existing contracts and relationships in place, avoiding the potentially expensive and time-consuming process of moving all assets and contracts from one business to another.
It may be less expensive than forming a corporation.
How Can NetworkBD Help You in Your Company re-domiciliation?
NetworkBD helps foreign companies incorporate and company re-domiciliation to Bangladesh in NetworkBD. We can also provide the administrative support needed to comply with local authorities’ requirements once your company is re-domiciled to NetworkBD. We can help your companies gain a competitive edge by offering our services.