
However, a fourth option, domestication, has been gaining momentum making it much easier to relocate a company. With domestication, an existing company can be transferred to a new jurisdiction without the hassle of acquiring third-party consents and regulatory approval that may occur with a merger. Additionally, since the resulting business entity after domestication is the same entity as the original entity, it may retain its “age” and Federal Tax Identification Number, which may be useful when acquiring corporate bank accounts, lines of credits and special government exemptions.
If you have any questions or would like further information about domestication, please contact an attorney.