How will Brexit affect my company?
Between 31 January 2020 and 31 December 2020, there was a transition period for companies and other organisations in order to have more time to prepare for the new rules as of 2021. There was still free movement of people and goods. For holidaymakers to and from the UK, for example, nothing changed, and it was not necessary for customs to check a lot of British goods. The rights of Dutch citizens living in the UK also remained the same during the transition period.
This transition period has now expired. Because financial services do not form part of the new partnership, a no-deal Brexit applies to financial institutions. British financial institutions without a licence may no longer offer their services in the Netherlands from 1 January 2021. This can have consequences for their customers based in the Netherlands if British parties do not have a licence in the Netherlands. They actually have to discontinue their services.
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