How will Brexit affect expats?
19 December, 2018Erika
If you live in the UK as an expatriate or have business there, you should be aware of the following points published in the recent EC report:
- There are 3.2 million Europeans living on British soil, and 1.2 million Brits living in Europe.
- Before the end of the transition period on 31st December 2020, Europeans currently residing in the UK will continue to hold the same rights, as will Brits living in Europe.
- Until the end of 2028, the European Court of Justice will preside over the rights of European citizens in the UK, and for all Brits living in the EU.
- The report also indicated that although free movement will no longer exist, Europeans intending to visit the UK for short trips or for the purposes of tourism will not need a visa.
- Irish citizens will be allowed free movement in the UK and there will be no border established with Northern Ireland.
- A “single customs territory” will be created with Ireland, which includes both United Kingdom and also EU territory. Ireland will be able to access the European market during the transition period.
- The report also indicated that the transition period, which will begin on 30th March 2019, can be prolonged if the United Kingdom requests an extension before 1st July 2020.
In Duguech&Dip we know that a phenomenon like Brexit brings changes and consequences that are sometimes unpredictable. However, we should bear in mind that the European Union and the United Kingdom have made serious commitments:
Commitments to preserve financial stability, market integrity, investor protection and fair competition, respecting the regulatory and decision-making autonomy of all parties.