With less than one year to go until the UK is set to leave the European Union, government efforts to reassure investors seem to have been largely unsuccessful. The future of the City of London as one of the world's biggest financial trading hubs is no longer evident.
London's financial centre has always been dominant in Europe as the most important hub for equity trading, with companies using EU-wide rules to attract business from around the globe. What will the impact be post Brexit and how will this impact other possible hubs in Europe, like Amsterdam?
Some expect London to retain its lead; however, few can predict the degree to which business will be lost to other financial centres in Europe. Some companies with headquarters in the UK have already announced plans for offices elsewhere and this is seen across different industries.
Fertile ground for new business
As one of the most economically competitive countries in the European Union, the Netherlands is a fertile ground for business. Whether in logistics, fintech or cybersecurity, companies are seeking an entry point into the European market. The Netherlands Foreign Investment Agency stands ready to "roll out their orange carpet" and welcomes companies from around the globe.
"It is exciting to see the surge in demand from companies
across the globe and in different industries exploring their
options elsewhere in Europe, particularly in the Netherlands,
Ireland, Luxembourg and Germany. We are geographically well covered
and able to compare options and navigate easily through the local
law and regulations. So far we have been able to assist numerous
clients to make their move to the European Union and helped them to
start their new local business in a swift and cost efficient
manner. As a result, our clients are able to focus on their core
business, whether that is trading or asset management, while we
take care of all relevant support services, including office space,
payroll, accounting- and corporate secretarial
– Jan Willem van Drimmelen, Intertrust's Head of Corporate Clients
Are you interested in finding out more about opening or moving your business to another EU-region? Intertrust is a global leader in providing corporate services to clients operating and investing in the international business environment.
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