Brexit: Record number of foreign companies move to Netherlands

2019 saw a record number of foreign firms move operations to the Netherlands. 78 of these firms said they had moved because of Brexit.

“Brexit firms” in the Netherlands

A record 397 international companies moved to the Netherlands last year and, according to figures from the Netherlands Foreign Investment Agency (NFIA), 78 cited Brexit as a reason for moving. This is a sharp rise from the 43 companies that moved to the Netherlands because of Brexit in 2018.

Since the Brexit referendum in 2016, 140 companies have made the move to the Netherlands. The 78 firms that moved to the Netherlands last year are expected to invest 64 million euros in the first three years, creating around 1.800 jobs.

The NFIA is in discussion with 425 other companies that are considering moving or expanding into the Netherlands because of Brexit. This is largely due to firms trying to reduce disruption to their business. According to Jeroen Nijland, head of the NFIA, the number of companies they are in discussion with is always increasing: “A year ago we were still talking to around 250 companies.”

Foreign firms in the Netherlands

The NFIA only counts companies that create jobs and make investments in the Netherlands. The 397 companies that moved to the Netherlands last year with the help of the NFIA’s Invest in Holland Network are expected to create more than 14.000 jobs and invest around 4,3 billion euros in their first three years.

Most of the companies belong to the business service, media & advertising and IT industries. According to Nijland, the Netherlands is a popular location for these kinds of companies because of its strong infrastructure, access to the European market and stability.

"It usually takes about six months to two years for a company to actually make the decision to establish itself in the Netherlands," he said. "The result of 2019 is the final piece of projects that we often already started in 2017 and 2018."