Categories
Corporate Relocation

UK Nationals Must Fulfill European Union Legal Residency Requirements

As the United Kingdom (UK) finally reaches the end of the Brexit transition period, UK nationals living in the European Union (EU) should affirm their EU residency. Apart from any requirements in the UK, many countries in the EU have specific requirements regarding residency. UK nationals may need to apply for residence in the country. Alternatively, they may need to register their residence.

Important Points for UK Nationals to Affirm Residency:

  • UK nationals may need to apply for a residence status to confirm they did in fact reside in the specific EU country prior to the end of the transition period (December 31, 2020)
  • Requirements and processes vary by country
  • According to the UK government, UK nationals have until June 30, 2021 to submit the application

What Happens to UK Nationals After December 31, 2020?

After December 31, immediate family members may travel to be with UK nationals. However, they may also need to submit an application prior to traveling.

The definition of immediate family members includes:

  • Spouses
  • Children/grandchildren who are dependents
  • Registered Partners
  • Parents/grandparents who are dependents

What Does This Mean?

For UK nationals living in the EU, it is important to understand their country of residence’s requirements relating to affirming residency status. Each country has specific forms and processes that should be followed. There are many complexities surrounding these requirements. Employers of UK nationals should take note to be sure their employees follow each specific requirement to ensure continued legal residency. The UK Government has a robust portal with a wealth of helpful information and resources. Here are three examples that show the wide disparity across various EU countries:

Greece

  • UK nationals must register as a resident if they plan to stay for more than 3 months. Guidance on how to register in Greece.
  • Those who are a legal resident before the transition period ends will be able to stay.
  • Rules on residency registration will change after December 31, 2020. For those already registered as a resident in Greece or those who register before December 31, 2020, their residence documents will be considered as temporary national residence permits.
  • UK nationals must further confirm their rights by obtaining a new residence document. (Note: Greece has not yet announced the process to obtain this new residency document.)
  • The Greek government has a helpful website for UK nationals living in Greece, and they may submit questions using the website’s contact form.
  • If you move to Greece after 31 December 2020, different immigration requirements will apply.

Luxembourg

  • UK nationals who move to Luxembourg before December 31, 2020 must first make a declaration of arrival at the local town hall (commune) in their locality within 8 days. Within 3 months of arrival, they must get an address registration certificate from the Commune. Following these steps and after they have received their address registration certificate, then they will need to get the new document.
  • If they require a criminal record check, they must apply for a police certificate from the ACRO Criminal Records Office. (Note: If they have never resided in the UK, they should record this in the “additional information” section on the application form.)
  • Guidance on registering in Luxembourg.
  • UK nationals who are residents in Luxembourg before the transition period ends will be able to stay.
  • They must obtain a new residence document by June 30, 2021.
  • Those who previously registered as a resident must complete an application form to obtain the new document from the Immigration Department in Luxembourg City. Guidance on the application process is provided online, along with the required application form.

Romania

What Should Employers of UK Nationals do?

Employers of UK nationals should provide guidance as to the employee’s country of residence requirements to ensure legal residency status is maintained. They should also work with a Relocation Management Company (RMC). An experienced and knowledgeable RMC will be able to help employers by identifying the specific country requirements.

The RMC will also help determine the best process to ensure all of the requirements are met. Meeting requirements will help secure legal residency status for the employee. As a result, both employers and employees will have peace of mind. They will also not face any disruptions relating to residency status.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients understand how to meet country requirements for residency. Our team can help your company understand how to help employees who are UK nationals establish legal residency in their specific EU country.

GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Contact our experts online to learn more about how GMS can help employees who are UK nationals establish residency in their EU country of choice, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Visa Program Consultation

Properly managing a visa and immigration program involves meticulous coordination, precise communication, and worldwide interaction with government agencies, corporate personnel, and relocating employees.

At GMS, we provide you with peace of mind in knowing your mobility program is fully compliant and being managed by the best in the industry.

Request a no-pressure, courtesy consultation from a GMS Mobility Pro. We’ll be in touch within 1 business day.

Categories
Global Relocation Tips Global Relocation Trends Visas and International Travel

Brexit Financial Industry Impacts May Change Global Market Dynamics

European Union (EU) authorities are looking to change rules that may result in Brexit financial industry impacts for international banks. As a result, the financial rulebook known as MiFID II could be up for amendments that would negatively impact the United Kingdom (UK).

What is MiFID II?

MiFID II is reform legislation governing the financial industry. It came into being following the 2007-8 financial crisis. The EU’s purpose with MiFID II was to regulate financial markets in the trading bloc, and enhance protections for investors, thus restoring confidence.

MiFID II includes policies governing the following:

  • Commodities Trading
  • Derivatives Trading
  • Futures Trading
  • Record Keeping
  • Research Spending
  • Stock Trading

What Would Brexit Financial Industry Impacts Mean for International Banks?

Several Brexit financial industry impacts would alter how international banks interact with the EU and the UK. These impacts include:

  1. Financial services firms based in London must depend on an equivalence process to gain access to the EU
  2. The equivalence process will require the UK to prove to the EU that its rules post-Brexit are at least as strong as the EU’s
  3. The EU could unilaterally decide to exclude UK firms
  4. Equivalence process allows the EU to unilaterally change the requirements for equivalence

Should the EU choose to amend the MiFID II or alter the equivalence process, these changes will affect industry transactions. International banks with locations in the UK will face Brexit financial industry impacts that might:

  1. Halt adoption of open access, a provision meant to increase the competition in derivatives markets
  2. Remove the requirement that money managers pay separately for investment research and trading services
  3. Prevent large financial firms from providing research at low prices considered harmful to competitors

What Does This Mean?

Brexit financial industry impacts may be more far-reaching than initially thought. Since London is currently the largest financial market in Europe, other market areas in the EU may look to alter rules to help them gain business and increase their industry presence. As a result, financial services firms in the UK may soon face significant hurdles with respect to transactions in the EU.

What should Employers do About the Brexit Financial Industry impacts?

Employers in the UK should review their preparations for various Brexit scenarios that may arise in the negotiation phase. The Brexit Bill does not include all of the specific provisions that directly apply to financial industry points of concern. Issues covering these points may be determined during subsequent negotiations between the UK and the EU during 2020.

The UK has published several valuable resources with Brexit guidance for business. Companies should be sure to review the UK’s guidance to ensure they prepare accordingly. The UK has set up a portal to share information on the new rules for living, working, travelling, and doing business in the US and EU starting in January 21.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients understand how to respond to changing industry and international requirements. As a result, our team can help your company understand how various Brexit financial industry impacts may alter your need for relocating UK and EU workers.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to determine how Brexit financial industry impacts may affect your relocation program, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Visa Program Consultation

Properly managing a visa and immigration program involves meticulous coordination, precise communication, and worldwide interaction with government agencies, corporate personnel, and relocating employees.

At GMS, we provide you with peace of mind in knowing your mobility program is fully compliant and being managed by the best in the industry.

Request a no-pressure, courtesy consultation from a GMS Mobility Pro. We’ll be in touch within 1 business day.

Categories
Visas and International Travel

Brexit Bill Becomes Law, with Brexit Day Set for January 31, 2020

The United Kingdom’s Parliament has approved the Brexit Bill, with the UK now set to leave the European Union (EU) on January 31, 2020. The bill received assent from Queen Elizabeth II, and then was signed by the President of the EU’s Executive Commission on January 24. The EU Parliament is set to ratify the Withdrawal Agreement on Wednesday January 29. The UK will end its 47-year membership in the EU at 11PM on Friday, January 31.

What are the Terms of the Brexit Bill?

The UK agreed to several terms of Prime Minister Boris Johnson’s deal with the EU, including:

  • Guarantees of rights for EU citizens residing in the UK
  • Creation of a customs border in the Irish Sea
  • The UK remaining subject to EU rules during a transition period lasting to December 31, 2020
  • Payment of £30 billion to the EU to settle liabilities
  • Loss of representation on EU’s decision-making organizations

What Does This Mean?

After several years of uncertainty, the Brexit Bill has become law. As a result, this will allow the UK to move forward with solid plans for future growth. Companies, organizations, and governments will have clear directives on how to proceed.

The departure date of January 31, 2020 marks the start of the UK’s exit from the EU. The Brexit Bill does not include any provisions with regard to trade, security, and many other issues that will remain for the future relationship of the UK and the EU. Negotiations are anticipated to begin following Brexit Day, with a target of December 31, 2020 for final resolutions.

What should Employers do About the Brexit Bill?

Employers in the UK and the EU should review their preparations for various Brexit scenarios that may arise in the negotiation phase. The Brexit Bill does not include provisions that directly apply to relocation and transferees. Issues covering these and other points may be part of the subsequent negotiations between the UK and the EU during 2020.

Employers should also examine internal processes and controls. They should ensure proper functionality within various legal and regulatory environments that may arise as part of the leave negotiations.

The GMS team of global experts provides analysis and guidance on several relocation industry topics in our White Paper: 2019 Industry Update. With respect to the Brexit Bill, companies should identify employees and their family members in the UK and the EU who might face issues related to their:

  • Work Permits
  • Work Authorizations
  • Legal Status Documentation
  • Visas
  • Travel Documents
  • Living Arrangements
  • Health Insurance Requirements

The UK has published several valuable resources with Brexit guidance for business. The guidance covers a wide range of topics, from “Drive in the EU after Brexit: lorry and goods vehicle drivers” to “Get your business ready to import from the EU to the UK after Brexit.” Companies should be sure to review the UK’s guidance to ensure they prepare accordingly, especially if they will be relocating workers in the UK or the EU.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients manage their need to relocate workers. Our team can help your company understand how various Brexit scenarios may impact your company. There may be specific requirements for relocating UK and EU workers. Employers should be aware of timelines and requirements negotiated following the Brexit Bill’s successful passing.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts. Contact our experts online to determine how the Brexit Bill and subsequent negotiations may impact your relocation program, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Visa Program Consultation

Properly managing a visa and immigration program involves meticulous coordination, precise communication, and worldwide interaction with government agencies, corporate personnel, and relocating employees.

At GMS, we provide you with peace of mind in knowing your mobility program is fully compliant and being managed by the best in the industry.

Request a no-pressure, courtesy consultation from a GMS Mobility Pro. We’ll be in touch within 1 business day.

Looking for something?