More Than A Thousand EU Firms Open UK Office After Brexit

More than a thousand financial companies from the European Union want to open an office in the United Kingdom for the first time after the Brexit.

This is evident from the registration data requested by Bovill consultancy from the Financial Conduct Authority (FCA).

Up to and including October 2019, 1,441 EU companies registered with the FCA. They want a temporary permit to operate in Great Britain after the country’s final break with the EU.

The notified companies include asset managers, insurers, stock market operators, fintechs and financial service providers. There are also more than a hundred banks in between. The majority of companies applied for the first physical office in the UK.

Irish companies showed the most considerable enthusiasm to open a British office. Many French and German companies also applied. It is unclear how many Dutch companies have registered with the FCA.

According to a recent survey by think tank New Financial, three hundred British financial companies now opened an office in the EU in order to be able to continue serving their customers on the European mainland after the Brexit.