Brexit: Almost 100 companies have moved to the Netherlands
To date, almost 100 companies have decided to move across the pond and set up shop in the Netherlands and another 325 are interested in moving due to the uncertain position of the UK in the EU after Brexit. At the start of this year, 250 companies were considering moving.
The uncertainty regarding the UK’s position in the European Union has caused 98 companies to move to the Netherlands. Another 325 businesses, including some big names, are interested in setting up an office in the Netherlands, according to figures from Netherlands Foreign Investment Agency (NFIA). This year alone, 38 companies have sailed on over.
The NFIA expects more companies to choose to move across in the coming months and years, especially if no deal is agreed upon by the EU and new Prime Minister of the UK Boris Johnson. “The ongoing growing uncertainty in the United Kingdom, and the increasingly clearer possibility of a no-deal, is causing major economic unrest for these [international] companies,” NFIA Commissioner Jeroen Nijland said. The companies that have already moved over have mostly done so for urgent reasons, for example because of banking licenses or broadcasting rights allowing them to remain active in the EU.
The Netherlands is attractive
The Netherlands is particularly attractive for companies in the financial sector, IT, media, life sciences and health and the advertising industry. Some of the companies that have chosen to relocate to the Netherlands include Bloomberg, AMBest, Cboe, MarketAxess, Discovery, Norinchukin and UK P&I.
It’s not just the UK that the Netherlands is an attractive option for either, companies from North America, Asia and Australia are also looking into settling in the Netherlands so that they retain access to the European market. NFIA sees the Netherlands as a compelling choice due to its strong logistics facilities, English-speaking population and digital infrastructure.
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emmaward 12:27 | 3 September 2019