A ‘no deal’ Brexit is looking more and more likely with both sides at a stalemate and the UK set to crash out of the EU on 31st January 2021. This means that an increasing number of businessmen are feeling anxious and uncertain and looking for new havens, and the Netherlands is especially popular, despite the recent measures introduced by the Dutch government to combat tax evasion by multinationals. And this number is predicted to become significantly larger as another 325 companies and organizations are actively considering moving to the Netherlands in the near future.
The increase is most clearly visible in the financial media, biotech and IT sectors. 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, such as:
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 an almost daily basis currently and has assisted many companies to make the transition.
- The Netherlands: an alternative for UK companies to avoid the consequences of Brexit?
- 9 Key sectors in the Netherlands offering interesting business opportunities
- Dutch Audit and Accounting
- More than a 100 companies have already moved their British businesses to the Netherlands
- Dutch accounting and audit requirements: all you need to know