Wondering if you can move your existing company to a jurisdiction where you can enjoy tax benefits, and 100% ownership with business-friendly rules? The answer is, yes! You can migrate or redomicile a company in Dubai – continue your business in a new jurisdiction without altering the legal identity. In this guide, the leading consultancy for business setup in Dubai explained how to redomicile a company in Dubai, the documents required for redomiciliation, and how it can help you with that.
What is Company Redomiciliation in Dubai?
Company Redomiciliation is a legal process that enables businesses to transfer its legal domicile from one jurisdiction to another without dissolving the original entity. This means your company retains its legal identity, including its incorporation date, contracts, and obligations, while operating under the laws and regulations of the new jurisdiction.
Unlike opening a branch office or virtual office, redomiciliation offers companies the opportunity to fully make use of the legal, and regulations of the new jurisdiction – without the need of starting from the scratch – it means more efficient and less disruptive than liquidation and reincorporation.
In the UAE, several free zones facilitate this process, enabling businesses to continue their operations uninterrupted while benefiting from a more favourable regulatory environment.
Who Can Redomicile a Company in Dubai? Eligibility Checklist
Not all companies are eligible for redomiciliation. Typically, private limited companies (LLC Company), joint-stock companies, and certain offshore entities can apply. Ensure your company meets the specific criteria set by the chosen free zone authority. Our business consultants will go through your country’s law and advise you accordingly.
There should be no ongoing disputes, debts, or legal issues against the company, as it could block the transfer.
Your business activities should comply with the UAW rules and it compliance with the permitted activities considerable for redomiciliation.
Your business should present a good standing record with a clean history of tax filings and audited financial reports.
Documents Required to Redomicile a Company in Dubai
Board and Shareholder Resolutions: Approving the move and authorizing representatives.
Certificate of Incorporation: From the current jurisdiction.
Memorandum and Articles of Association: Outlining company structure and operations.
Audited Financial Statements: Demonstrating the company’s financial health.
No Objection Certificate (NOC): From the current jurisdiction’s authority.
Shareholder and Director Passports: For identification purposes.
Proof of Good Standing: Confirming the company is not under liquidation or facing legal issues.
Things to do Post-Redomiciliation
Post-redomiciliation, update all operational aspects:
Bank Accounts: Open new accounts or update the existing bank details.
Visas: Depending on the jurisdiction, you may require to apply for new visas for employees and stakeholders under the new jurisdiction.
Contracts: Review and amend contracts to reflect the new jurisdiction.
Tax Registrations: Update the TAX/VAT details according to the new jurisdiction. Discuss with our VAT and TAX consultants in Dubai for more info.
Cost Involved in Company Redomiciliation in Dubai
To redomicile a company in Dubai, the cost varies depending on the jurisdiction you choose, and the complexity involved. On average, you can expect: –
Government Processing Fees: AED 7000-15000
Legal and Consultancy Fees: AED 2000-5000
Office Space: Varies depending on the jurisdiction you choose
Licensing Fees: Varies depending on your business activity.
It’s advisable to book a free consultation with a business setup consultants in Dubai to obtain a detailed cost breakdown tailored to your specific needs.
How Dahhan Business Services Helps You with Redomiciliation?
Dahhan Business Services makes company redomiciliation process seamless and stress-free by offering end-to-end support tailored to your business needs. Our experts begin by assessing your company’s structure and eligibility, guiding you to the most suitable free zone based on your business activities, budget, and long-term goals.
From start to finish, we handle all the complexities of redomiciliation, and provide tailored advice, ensuring a smooth transition. In short, Dahhan Business Services and our team can turn a complex task into a simple, hassle-free experience.
Contact us today with your redomiciliation request!
Frequently Asked Questions (FAQs)
Can I redomicile my company from any jurisdiction to Dubai?
Not all jurisdictions allow redomiciliation. Ensure that your current jurisdiction permits the transfer of domicile.
How long does the redomiciliation process take?
The process typically takes between 6 to 12 weeks, depending on the complexity and the jurisdictions involved.
Do I need to cancel my old company before redomiciling?
No, you don't cancel your old company completely. Instead, you obtain an exit certificate or NOC from your current free zone. The new jurisdiction then issues a Certificate of Redomiciliation to smoothly transfer your setup.
Will my contracts and business identity remain the same after redomiciling?
Yes, when you redomicile to a new jurisdiction, your contracts, identity, and relationships remain the same. You're not starting over; you're simply moving your registration into a new jurisdiction designed for speed and global growth.
Will I need to close my existing company to redomicile?
No, your company remains legally intact. You typically obtain a Certificate of Continuation or NOC from the current free zone before completing the transfer.
Can startups or small businesses benefit from redomiciliation?
Yes. Redomiciliation is ideal for startups, SMEs, and even larger companies seeking better business environments, regulatory advantages, and strategic positioning.