Since the referendum in 2016, Brexit has been a topic of massive controversy ever since. Will it really benefit the UK to exit the European Union? What kind of consequences will this have for both laborers as well as business owners? And what is the best strategy to stay connected to the EU, if you are an entrepreneur or business owner?
It’s specifically the last question that has kept many business owners scratch their heads, so to speak. Obviously relocation and/or the opening of extra subsidiaries in an EU country are the best way to achieve this in most cases. But relocation is not a small step you just take, it takes time, research and proper preparations. Nonetheless almost 100 companies have made this move and are the proud owners of either new headquarters in the Netherlands, or a new branch office.
Intercompany Solutions CEO Bjorn Wagemakers and client Brian Mckenzie are featured by CBC News – Dutch Economy braces for the worst with Brexit, in a visit to our notary public on 12 February 2019.
The Brexit date is almost here and people need solutions
Brexit day is only weeks or months away. More and more entrepreneurs are having uneasy and restless feelings about the big deal or no-deal question. This has already led to a significant increase in companies orientating themselves on the Netherlands for a possible new base in the European market. And this number will easily become larger, since another 325 organizations and businesses are contemplating moving here in the very near future.
The increase is mostly visible in the financial sector, media and communications, IT and biotechnology. Companies in these sectors are mostly drawn to Holland due to the excellent employment market in combination with lenient financial opportunities and permits. It’s not just UK companies that decide to settle here: a large Japanese bank like Norinchukin and the American CBOE also made the same decision.
Not every company is ready to take action just yet
Many UK companies are still a tad hesitant, because it is still very unclear how Brexit will take shape and what the exact effects will be on the business community. It might pose some risks for your company though, if you do not consider at least one branch office in an EU country before an eventual hard Brexit goes into effect. This surely might have consequences like:
- A substantial delay in all business activities due to obligatory border formalities and the necessary documentation you will need now
- You will no longer be able to take part in the free EU market, this will make much more difficult to hire freelancers or buy and sell products from and to other countries in the EU
- You can pretty much count on establishing a backlog in your services very fast due to all the new requirements and paperwork
- You are at risk losing clients from all over the EU, simply because it will be easier for them to find a competitor who is still based in the EU
Intercompany Solutions can help you avoid such consequences
The list is much longer than this, as every single business will be subjected to certain extra disadvantages linked to a specific sector. If you want to avoid such consequences, it would be wise to consider opening a branch office in Holland. Intercompany Solutions can realize this for you in just a few business days, plus you won’t even need a physical location immediately as it is also possible to establish a subsidiary or branch office. Please feel free to contact us anytime with questions, we will try to assist you in every possible way we can.
Intercompany Solutions gets Brexit related requests on a almost daily basis currently, and has assisted many companies make the transition.