Independent Expert Panel publishes report on corporate re-domiciliation

Article summary

The Independent Expert Panel on Corporate Re-domiciliation (Panel) published its report on 1 October 2024. The Panel was established by the Department for Business and Trade in December 2023 to develop a proposal for changing the legal framework to enable companies incorporated in overseas jurisdictions to transfer to the UK while retaining the same legal personality. The report outlines the Panel’s proposals, supporting the introduction of a two-way re-domiciliation regime, enabling corporate bodies registered outside the UK to become a UK company and UK companies to re-domicile outside the UK. It details various components of the proposed regime, including eligibility criteria for organisations, required information for re-domiciliation, as well as the application process. The government welcomes the report and intends to consult on a proposed regime design in due course.