The Brexit Winners: Dublin, Berlin, Frankfurt, Inbound Tourists and British Universities - 6. Law Firms and Consultancies
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6. Law Firms and Consultancies
The prospect of the UK leaving the EU has brought up many complicated questions and issues that need professional answers. What EU laws will be kept by the UK? How will trading relationships between the EU and the UK develop? Or even between the UK and the rest of the world?
With the UK potentially losing approximately 60 free trade agreements between all EU members and other countries, bilateral agreements will need renegotiating. The multiple financial institutions planning to move their departments to different European countries will undertake plenty of legal legwork as they too renegotiate terms with their clients, not to mention the many UK companies with EU clients and vice versa.
“While some clients are biding their time waiting to see what steps the UK government will take next, others are proactively reviewing their options to protect their international business,” says Urs O. Kraft, attorney at law, at Switzerland-based Law offices UOK. “Since the results of the referendum in the UK, we have seen a substantial increase in enquiries for corporations seeking the fair taxation and wide access to the EU market that Switzerland has to offer."
(It is worth pointing out that Switzerland is not a member of the EU!)
The fallout from the Brexit vote should be keep law firms in business for years to come around the globe.
