Brexit, Corona & Residency Transition for Expats
BREXIT TRANSITION
The UK confirmed they won’t ask for a transition period extension.
So in mid July, Brexit trade negotiations continue in earnest. The EU presidency for the rest of 2020 is Germany and their leader, Angela Merkel, started the process by saying that no trade deal is a possible outcome this year. Similar to 2019, where we saw media negotiations with rival positions debated over the airways.
There is a trade negotiation to be done. A temporary agreement may be made, or a longer negotiation could take place, with world trade rules covering the time in-between. We will see.
Any trade deal can be worked around by Expat businesses establishing cross-border branches or overseas subsidiaries.
NON-EU RULES
The worse case is that non-EU rules are applied to Expat families and businesses Living and Working Abroad across the EU and UK.
Individuals who already have residency permits in the UK or EU before the end of the 2020 transition period already have the right in law to remain Living and Working Abroad in their country of residence.
That residency permit only needs to be issued by the end of December 2020.
Businesses may want to reorganise their employees in terms of tax and social, as well as residency or working online.
ProACT Know How
For help and guidance follow us at www.proactpartnership.com to follow our blogs vlogs pods for Expats Living and Working Abroad during Brexit transition.
For Free Review and guidance www.proactpartnership.com/contact-us