Open for business: implementing a UK corporate re-domiciliation regime
Consultation on a re-domiciliation regime to make it easier for foreign companies to change their place of incorporation to the UK.
This consultation seeks views on the detailed design for an inward corporate re-domiciliation regime that would make it possible for a foreign company to re-domicile to the UK without having to change its legal identity.
These proposals are based on recommendations set out in the Independent Expert Panel on Corporate Re-domiciliation’s report and follow an initial consultation in 2021.
Under current processes, moving a company’s place of incorporation to the UK involves the creation of a new legal identity. This is costly, complex and can introduce commercial risks due to the need to transfer assets and contracts. An inward re-domiciliation regime would make it easier for foreign companies to transfer their place of incorporation to the UK by introducing a specific process that allows the company to change their place of incorporation while maintaining their legal identity.
Economic growth is the number one mission of this government. By making it easier for companies to move their place of incorporation to the UK we will maximise opportunities for increased investment and skilled jobs.
The consultation seeks responses from:
- businesses
- business representatives
- non-governmental organisations
- members of the public
- any other interested parties