By Nellie Akalp
Learn important things to keep in mind when legally changing your business domicile.
getty
Redomestication refers to when a business changes the state that’s considered its home state (also known as its “domicile state”). It’s a process that shifts a company’s charter to a different state, altering its residence.
Before I get into what’s involved with redomestication, let’s first talk about “domestication” and a business’s domicile.
Business domestication and domicile
Generally, a limited liability company or corporation’s domicile state is the state where the business was legally formed. Domestication, establishing a home state, gets completed by filing forms called Articles of Organization (LLC) or Articles of Incorporation (corporation). The domicile is usually where the principal place of business resides.
However, some entrepreneurs choose to move their company or change its home state to one other than…