Clifford Chance
Corporate Re-domiciliation: Global Britain? Why the proposed new UK regime matters
26 April 2022
The Government confirmed in April that it intends to introduce a UK corporate re-domiciliation regime, which would allow a foreign-incorporated company to change its place of incorporation to the UK whilst maintaining its legal identity as a corporate body. This has the potential to reduce significantly the complexity involved in the process of relocating to the UK. Companies looking to align the domicile of group companies with, for example, the location of key operations, corporate headquarters or tax residency will benefit from this proposed new regime.
Key takeaways:
- The proposal should be welcomed as a useful addition to UK company law.
- The regime will be a tool, and not a reason itself to move to the UK.
- This is expected to be part of an overall package of measures to make the UK a more attractive place in which to do business.
- Nothing changes yet – more time is required before legislation is introduced.
- It has not yet been confirmed whether outward (as well as inward) re-domiciliations will be permitted.
