Migration to the UAE:
Companies migrate for different reasons, such as to benefit from a favorable tax environment, less bureaucracy, moving to a business hub and international financial centre.
UAE is becoming more welcoming and attracts more businesses and investors in the country by facilitating new company set ups and by allowing migration of companies to the country. There are different authorities and freezones within the UAE that pursue migration of companies, namely RAK ICC (International Corporate Centre), Dubai Multi Commodities Centre (DMCC), DIFC (Dubai International Financial Centre), and ADGM (Abu Dhabi, Global Market)
RAK International Corporate Centre (RAK ICC)
RAK ICC allows migration of offshore companies from other jurisdictions (like BVI or Panama) to the UAE, as long as the migrating company has no ongoing legal proceedings in the mother jurisdiction.
DMCC, being the fastest growing free zone in Dubai, also allows migration of companies from other jurisdictions, including locally based free zones; provided that their regulations permit such transfer.
The DIFC is a financial center, following common law framework, which provides a secure and efficient platform for business and financial institutions. Financial and legal service providers can set up or migrate to the DIFC.
Similar to DIFC, ADGM is another financial centre located in the UAE’s capital city, Abu Dhabi. The authority promotes establishment of Special Purpose Vehicles (SPVs) and Foundations, as well as migration of both entities and from abroad. Please click here for more information.
“Migration of companies are subject to approval of each free zone, ensuring that their regulations of current jurisdiction allow such transactions and there are no opening claims or ongoing legal proceedings. “