As legislative developments make it easier to move between
jurisdictions, many offshore companies are choosing to redomicile
in different jurisdictions for a variety of reasons, including
taking advantage of different tax and regulatory regimes, to
consolidate with existing group structures, or to cut down on costs
and assist with the ongoing administration of the offshore company
or group.
Historically, where an offshore company wished to move its
corporate seat to another jurisdiction, this could only be done by
way of a 'contractual' migration, which involved the
establishment of a 'new' company in the new jurisdiction,
which agreed to take on all the assets, contracts, liabilities and
obligations of the old company, which was then dissolved. This
process did not suit many clients as the transfer of assets and
liabilities could be relatively cumbersome, making the exercise
potentially costly, and the process could often have adverse tax
implications as one
