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Reincorporation Trends 2022-2025: Delaware Dominates, Nevada Gains, and Global Shifts Emerge

Corporate reincorporation remains a powerful governance and tax strategy for U.S. traded companies. According to the latest Reincorporation Trends Report (August 31, 2025), powered by MyLogIQ’s CompanyIQ® platform, Delaware continues to be the preferred jurisdiction, but new patterns are emerging across U.S. states and foreign markets.

Delaware Still Leads by a Wide Margin

  • 48 companies reincorporated in Delaware between 2022 and 2025 representing 65% of all business residences changes, reaffirming its dominance as the go-to state for legal headquarters.
  • Delaware accounted for 39% of all reincorporation changes in 2025, a significant decrease from 67% in 2024.
  • Notable moves included Arthur J. Gallagher shifting its incorporation from Illinois to Delaware.

Nevada Is on the Rise

  • Nevada ranked second, with three companies choosing the state in 2025.
  • High-profile moves included The Trade Desk, which shifted from Delaware to Nevada.
  • Nevada also led in proxy proposals, with 9 reincorporation proposals in 2025 (all approved).

Other U.S. States See Activity

International Reincorporation Hotspots

  • Bermuda, Jersey, and the United Kingdom were the top three foreign jurisdictions in 2025.
  • Offshore moves remain driven by regulatory, tax, and investor considerations.
  • The Cayman Islands to Delaware pipeline remained strong, with 18 companies making the switch, while 10 went the opposite direction.

Notable 2025 Company Moves

  • AMC Networks, Roblox, Simon Properties, Dillard’s, and Trump Media & Technology all approved reincorporation proposals.
  • In total, 19 reincorporation proposals were filed in 2025, spanning Delaware, Nevada, Florida, Texas, and Maryland—all of which passed.

Insights from CompanyIQ®

  • This research was powered by CompanyIQ®, MyLogIQ’s AI-driven governance and disclosure platform, which tracks reincorporation proposals, proxy filings, and company moves across 7,000+ public company websites. With CompanyIQ®, governance professionals, investors, and corporate advisors can monitor jurisdictional shifts in real time.

Why It Matters

  • Reincorporation trends reflect boardroom strategy, shareholder alignment, and regulatory arbitrage. Delaware’s dominance shows no signs of fading, but Nevada and offshore jurisdictions are gaining traction as boards seek flexibility and shareholder-friendly governance structures.
  • Bottom line: Whether it’s Delaware, Nevada, or global jurisdictions like Bermuda, reincorporation remains a critical lever in corporate governance—and MyLogIQ’s CompanyIQ® provides the transparency needed to track these evolving trends.

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