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Brexit FAQ

What does Brexit mean for your business?

The UK’s exit from the EU will definitely have an economic impact that all business owners should prepare for. Here is the list of the key areas to change and recommendations for business owners. 

Brexit and finance stocks

International trade

The worst scenario of ‘no deal’ has been avoided. Both sides agreed on keeping the free trade zone. The UK will be able to supply its goods to the European market duty-free, as before. However, goods will have to go through customs controls at the border.

“The agreement provides for zero duties and quotas on all goods complying with proper rules of origin,” according to the European Commission’s website.

Meanwhile, there will be a number of restrictions in the services sector. For example, British TV and streaming video content providers will not be able to access the EU market unless they move some of their business there. Note, that any import or export business must register for an Economic Operator Registration and Identification (EORI) number (the unique ID code used to track and register customs information in the EU). Businesses will not be able to move goods in and out of the UK without one.

In the case of no-deal Brexit, the UK will totally separate from the EU. In that case, trade between countries will be regulated on the basis of international principles. Businesses will experience the greatest impact on continental European suppliers or customers. Trade with non-EU countries will also be affected by losing access to the EU’s current free trade arrangements. Logistics will slow down as border controls will take place.

Tariffs, or customs duties, will definitely change. Currently, the UK is still trading with the rest of the world according to EU tariff rates. But after the Brexit tariffs will depend either on trade agreements with each separate country or on the World Trade Organisation (WTO) rules.  

Note, that any import or export business must register for an Economic Operator Registration and Identification (EORI) number (the unique ID code used to track and register customs information in the EU). Businesses will not be able to move goods in and out of the UK without one. 

Workforce

If you run business in the UK, and you hire employees from the European Union European Economic Area (EEA) and Switzerland, certain measures should be taken. 

If you run business in the UK, and you hire employees from the European Union European Economic Area (EEA) and Switzerland, certain measures should be taken. 

People from the EU wanting to move to the UK for a long-term stay or work – meaning more than six months – will need to meet the migration conditions set out by the UK government, including applying for a visa. Employers need a sponsor licence to hire most workers from outside the UK.

Each EU citizen wishing to remain in the UK after the 30th of June 2021 must apply for Settled Status. The application can be done prior to the 30th of December 2020. Learn more about the process and prepare the required documents and photos.

Each business owner should inform  EU workers of the latest developments and of their ability to remain in the UK after Brexit!

If you run business in the UK, and you hire employees from the European Union European Economic Area (EEA) and Switzerland, certain measures should be taken. 

Each EU citizen wishing to remain in the UK after the 30th of June 2021 must apply for Settled Status. The application can be done prior to the 30th of December 2020. Learn more about the process and prepare the required documents and photos.

Each business owner should inform  EU workers of the latest developments and of their ability to remain in the UK after Brexit!

Services

UK service providers are currently exporting their services to the EU under the rules of the common market.  In the case of no-deal scenario, the relevant regulatory framework will be the rules of the World Trade Organization (WTO). Note, that the right to provide services in the EU market will not extend automatically, but details are still unveiled.

What can I do for my business in the UK at the moment?

Don’t worry: the Government has already taken measures to help business owners prepare for different scenarios.

First:  contact one of the 31 Local Enterprise Offices (LEOs) across the country. You will receive individual guidance and useful Government support to help you get your business Brexit ready.

Second: read the Brexit Preparedness Checklist produced by the Republic of Ireland government.  It describes the steps you can take now to get ready for Brexit.


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Brexit FAQ

Travel after Brexit

What do I need to do to travel from the UK to Europe/ From Europe to the UK after Brexit

Traveling between Europe and the UK

Until recently, Britons and Europeans enjoyed visa-free travel between the countries. However, as of January 1, 2021 something changed for travelers from both sides of the Channel.

We have collected the most useful information for you to know about it.

It’s better to renew your passport

After the transition period, Europe will require British passports to be issued less than 10 years ago. You will also need to have at least 6 months of validity after your intended return date: it’s a common rule when travelling internationally. If you ignore this requirement, you may not be able to travel to most EU countries, as well as to Iceland, Liechtenstein, Norway, and Switzerland.

After the transition period, Europe will require British passports to be less than 10 years old. You will also need to have at least 6 months of validity after your intended return date: it’s a common rule when traveling internationally. If you ignore this requirement, you may not be able to travel to most EU countries, as well as  to Iceland, Liechtenstein, Norway and Switzerland. This rule doesn’t include the Republic of Ireland.

The same rule is applied to EU citizens: to enter the UK you will need a passport that expires in less than 6 months.

After the transition period, Europe will require British passports to be issued less than 10 years ago. You will also need to have at least 6 months of validity after your intended return date: it’s a common rule when travelling internationally. If you ignore this requirement, you may not be able to travel to most EU countries, as well as to Iceland, Liechtenstein, Norway, and Switzerland.

The same rule applies to EU citizens: to enter the UK you will need a passport that expires in no less than 6 months.

You will not need a visa for a short trip

British tourists will be allowed to stay in EU countries, Liechtenstein, Iceland, Norway and Switzerland  for up to 90 days in any 180-day period. The arrival date in the Schengen Area will be recorded by the Schengen Information System (SIS). You can use this online tool to calculate remaining travel days.

For a longer stay, as well as for work and study reasons, a compliant visa will be required. Overstay may lead to an entry ban for 1 year.

We should also expect this change: when arriving at a passport control, UK Residents will not be able to use the EU Nationals speedy check lanes. So prepare to spend more time entering an EU country than before.

British will need to pass the  ETIAS Travel Authorization (but not right now)

The ETIAS, or the European Travel Information and Authorization System, will be an online system established by the EU. It will be compulsory for citizens of over 60 world countries that so far didn’t need a Schengen visa for short trips. And the UK is in this list as well. Under ETIAS visitors to the Schengen Area will have to obtain an authorization before their trip and pay a €7 fee. An approved ETIAS will be valid for three years or the date of passport expiry. You will be able to use it for stays of up to 90 days in a 180 day period.

The ETIAS, or the European Travel Information and Authorization System, will be an online system established by the EU. It will be compulsory for citizens of over 60 world countries that so far didn’t need a Schengen visa for short trips. And the UK is in this list as well. Under Etias visitors to the Schengen Area will have to obtain an authorisation before their trip and pay a €7 fee. An approved ETIAS will be valid for three years or the date of passport expiry. You will be able to use it for stays of up to 90 days in a 180 day period.

Anyway, according to the latest news, the implementation of Etias system has been postponed. Now it’s expected to come in force only by 2022-2023.

The ETIAS, or the European Travel Information and Authorization System, will be an online system established by the EU. It will be compulsory for citizens of over 60 world countries that so far didn’t need a Schengen visa for short trips. And the UK is on this list as well. Under ETIAS visitors to the Schengen Area will have to obtain authorization before their trip and pay a €7 fee. An approved ETIAS will be valid for three years or the date of passport expiry. You will be able to use it for stays of up to 90 days in a 180 day period.

Anyway, according to the latest news, the implementation of the ETIAS system has been postponed. Now it’s expected to come in force only by 2023.

British drivers may need an International Driving Permit for riding abroad

It’s quite possible, that from 1 January 2021 some European countries will require UK drivers to have extra-documents  (especially for longer visits). International Driving Permit is easy to buy at Post Offices for £5.50. It is still under discussion if IDP will be needed in the EU, but this document is quite useful anyway, as it’s already required or recommended in over 140 countries.

It’s quite possible that from 1 January 2021 some European countries will require UK drivers to have extra-documents  (especially for longer visits). International Driving Permit is easy to buy at Post Offices for £5.50. It is still under discussion if IDP will be must-have for the EU, but this document is quite useful anyway, as it’s already required or recommended in over 140 countries.

You might also need the Green Card or International Insurance Card for your car, which proves that your insurance covers the minimum cover in the country you’re driving in. Ask your insurance company if they can supply you with one.

It’s quite possible, that from 1 January 2021 some European countries will require UK drivers to have extra-documents  (especially for longer visits). International Driving Permit is easy to buy at Post Offices for £5.50. It is still under discussion if IDP will be needed in the EU, but this document is quite useful anyway, as it’s already required or recommended in over 140 countries.

You might also need the Green Card or International Insurance Card for your car, which proves that your insurance covers the minimum cover in the country you’re driving in. Ask your insurance company if they can supply you with one.

Free mobile roaming may end (but it’s also not certain yet)

Anyway, it will up to individual providers to decide whether or not they set charges. Currently the key UK networks like O2, Vodafone, Tesco Mobile, Giffgaff, etc. assure that they have no plans to change free roaming in Europe. But in future, their positions may change.

It’s not necessarily the case that roaming charges will return, but it is up to individual providers to decide whether or not they make changes. The trade deal between the UK and the EU encourages operators to have ‘transparent and reasonable rates’ for roaming.

Currently the key UK networks like O2, Vodafone, Giffgaff, Tesco Mobile etc. assure that they have no plans to change free roaming in Europe. But in future their position may become subject to change.

However, you will be protected from mobile data charges above £45 without you knowing. Operators are also required to send an alert once you’ve reached 80% and 100% of your own data roaming limit. 

You may need to declare your cash at the border if you have £10,000 or more

From 1 January 2021, it will be compulsory to declare cash of €10,000 or more (or the equivalent in another currency) if you take it between the UK and the EU (as well as between the UK and any non-EU country). Cash declaration can be easily done online

Your health insurance is still valid

The European Health Insurance Card (EHIC) provides medical treatment in EU countries, as well as a number of others. According to recent info, all EHIC cards already issued for Britons will be valid until their expiry date.  However, only the following categories of citizens are eligible for the new EHIC card:  EU citizens resident in the UK; British students studying in the European Union; and some British pensioners who live in the EU, plus their families.

In the future, the British government plans to issue a new card, called the UK Global Health Insurance Card (GHIC). Like EHIC, it will cover chronic or existing illnesses, routine maternity care and emergencies. 

Travel photographs

Last update: December 30, 2020