Our company is registered somewhere that does not work for us.

The mismatch appears after formation, not during it. A jurisdiction chosen for speed and cost turns out to be one no acquirer will bank, or one whose regulator does not licence the product, or one now on a monitoring list that makes every correspondent bank slow down. Sometimes the entity type itself is wrong: a form suited to holding assets is being used to invoice customers and process card payments.

The specific mechanisms differ and dictate the remedy. Some jurisdictions permit redomiciliation, where the same legal entity continues under a new registry, preserving contracts and history. Others do not, and the only route is a new entity with assets, contracts, and intellectual property transferred, which raises transfer and exit tax questions. Where a licence or a bank account already exists, the order of operations matters more than the destination: closing first strands the funds.

Doing nothing has a cost too. An entity that cannot bank or licence in its own jurisdiction accumulates filings, agent fees, and an increasingly awkward corporate history to explain.