Did you know that BREXIT might have an inpact on you, your family and your assets?
With Europe now the epicentre of the Covid-19 pandemic, the focus of politics has dramatically changed. Nevertheless, Brexit will still, undoubtedly, bring uncertainty.
The UK has now left the European Union but there remains a lack of clarity about what the UK’s future relationship with the EU will look like.
Under the terms of the “divorce agreement”, the transition period that began when the UK formally left the EU on 31 January 2020, keeping most arrangements temporarily in place while allowing time for negotiations, is due to end on 31 December 2020.
It may be extended by mutual agreement by up to two years if it is requested before 30 June 2020, however the British government has already ruled out this option. Without an agreement, the UK will become a “third country” to the EU, and this will create significant barriers not only to trades but also on many other aspects of life.
It is vital to prepare for what comes next, mitigate the risks and take appropriate action where needed, to ensure that you, your family and your assets are protected
We cannot predict how the future legislation will unfold, but in preparation you should be thinking of some areas that might be affected by changes, including:
Immigration and Settled Status
EU citizens now have until June 2021 to secure their rights to live in the United Kingdom, registering with the EU Settlement scheme. Applicants will be granted either settled status (“Indefinite Leave to Remain”), or, if they have not lived in the UK for a continuous period of five years, pre-settled status (“Temporary Leave to Remain”).
You will need to apply even if you have a document certifying Permanent Residence under the EU legislation, or if you are married to a British citizen.
We would strongly advice you to apply under the EU Settlement scheme as soon as possible, as having the status granted will ringfence your rights and let you and your family continue to live, study and work in the UK.
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