Chapter Forty-Seven: Why you should re-domicile your company to the UAE
UAE has numerous free zones and other types of jurisdictions, each with separate laws for operation and domicile, and has become an attractive location for domiciliation.
Re-domiciliation (migration) is the process in which a company moves its domicile (the area where business takes place) from one jurisdiction to another by changing the country under whose laws it is registered or incorporated, whilst maintaining its legal identity.
Why should you re-domicile your company to the UAE?
Each Free Zone in Dubai provides different licensed activities, such as trading, financial services, logistics, media-related activities, information technology, communications, or light industry.
– Zero corporate tax regime
– Flexible control and regulations
– Access to the English jurisprudence
– Full repatriation of capital and profit
– Availability of different corporate vehicles
– Stable economy
– Geographically well-situated and easy access to different financial centers
– Greater assets protections through DIFC Will and Foundations
– Access to several local and international banks
– Ability to acquire real estate.
The process of re-domiciliation has two main stages:
- Preparation of documents for the transfer of business out of the current jurisdiction,
- The actual transfer process with registration to a new address in a new jurisdiction.
You may pick from the below jurisdictions should you want to re-domicile your company from any part of the world:
- Dubai Multi Commodities Centre (DMCC): DMCC has executed the process and regulations for migration of companies from other jurisdictions, including locally based free zones, considering that their regulations permit such transfer.
- Ras Al Khaimah International Corporate Center (RAKICC): Offshore companies, if authorized by the laws of the jurisdiction in which they are incorporated, can easily apply for continuation as a company in RAKICC and enjoy a tax neutral environment.
- Dubai International Financial Centre (DIFC): DIFC has its own court, with independent regulations abiding by a Common Law framework. The DIFC companies’ law is quite suitable for the process
- Jabel Ali Free Zone Authority (JAFZA): one of the largest seaports in the world and is directly connected to the world’s largest airport, DXB International Airport. JAFZA revised its regulations to let companies transfer their registration from another jurisdiction and continue their business at JAFZA. Solid infrastructure for warehousing as well if required.
Foreign companies can re-domicile and enjoy various benefits provided by the UAE corporate tax-free regime and its wide network of double tax treaties.
Our team of expert consultants can help and advise you of the best way to establish your business in the UAE. We have the answer to your questions regarding re-domiciliation in the UAE. We offer the best advisory service to clear direction and guidance to the investors who want to set up their operations in the Emirates, whether onshore or offshore.
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