Latest for Expats Part 1: Brexit, Expat Residency and Travel
ProACT Sam considers the latest news for Expats in the form of ‘BERT’: our Brexit, Expat Residency and Travel update. These are the key topics of concern for our Expat clients and colleagues right now. Below, the first of this short series of three articles delivers an update on Brexit for Expats:
Brexit and Expats
UK government confirms they will not request an extension to the transition period
As we approach the mid-point between the UK’s exit from the EU which took effect on 31st January 2020 and the end of the Brexit transition period on 31st December 2020, the UK government have confirmed they won’t ask the EU for an extension of the transition period, which had to be requested by 30/6/20 if this was required.
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EU responds by postponing all further trade negotiations with UK until September
The EU’s response to this announcement is that they will now consider no new substantial trade negotiations with the UK over the next two months, stating that they instead need to focus on Coronavirus and its impacts. This effectively pushes back negotiations for a trade deal between the UK and the EU to September.
Nothing new there then. Same old Brexit-style negotiations.
How does this Brexit development affect free movement between the UK and EU countries?
This latest update in the Brexit calendar of events does not affect free movement of people between the UK and EU member states. Agreements protecting Expats living in or moving between the UK and EU countries before the end of the transition period is already in place by law.
For information and actions Expats need to be aware of during the next 6 months of this transition period, download our FREE Brexit Day Checklist for Expats.
Will a Brexit trade deal be in place by January 2020?
EU and UK businesses will not want to be put under additional post-corona pressure. The question everyone will be asking is ‘Will a Brexit trade deal be in place by January 2020?’
If past observation is anything to go by, the EU will already have a clear idea on what they will be prepared to accept and agree as an ongoing UK trade deal.
At the last minute and before the end of 2020, we can likely expect an agreement to emerge from the EU, and the business world will keep turning.
What is certain regarding Brexit?
There is a level of uncertainty right now for those concerned about trade between the UK and EU member states.
What we know for certain is that there is a legal withdrawal treaty in place and that the UK have confirmed they won’t use the 30th June option to extend the transition period which retains the status quo during 2020.
ProACT Partnership works with businesses, employees, contractors and self-employed people Living and Working Abroad to advise on how best to protect your residency and how to structure your businesses to best protect your assets, families and businesses.
Download our FREE Brexit Checklist for Expats for important points to monitor during the second half of this transition period.
For more information on how Brexit affects Expats Living and Working Abroad, our 25-page guide explains residency/citizenship rules plus actions, impacts and points to consider regarding healthcare, trade, taxes, pensions, social insurances and more. Download the guide ‘How Brexit Affects Expats Living and Working Abroad’ here.
For further help and advice regarding your individual circumstances, contact ProACT Partnership. We offer a free review and work with Expats living in countries all over the world.
