Defining Company Migration, continuation and re-domiciliation

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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