WHAT IS A NO-DEAL BREXIT?
In a no-deal scenario, if the UK reaches the October 31st Brexit deadline without having a withdrawal agreement in place, they would immediately leave the EU without an agreement for the separation process. Overnight, the country would lose its access to the EU’s single market and customs union and return to the World Trade Organisation (WTO) rules. Additionally, Brexit would allow the UK to establish its own immigration laws, as they will no longer be held to the European Union’s “freedom of movement” commitments.
NO-DEAL BREXIT BUSINESS IMPACTS
A no-deal Brexit would place the UK, its businesses, and citizens in uncharted waters. Immediate delays to business operations could potentially result in delayed contract signing, delayed patents, immediate delay of imported and exported goods, and cross-border financial disruptions.
Longer forecasts associated with no-deal Brexit concerns include:
- Impact on currency strength.
- Price increases and taxes on imports send to EU.
- Food, fuel, and medicine shortages.
- Delays caused by severe travel disruptions at UK ports.
- Delays caused by border checks on goods under default WTO terms.
- Loss of guaranteed access to the EU single market.
- Impact on Irish border security.
THE UAE – A BREXIT SAFE HAVEN
There has never been a better time for company formation in Dubai. Dubai has risen up the ranks of the Global Financial Centres Index (GFCI) to the eighths ranked position, representing its highest ever ranking. As the only financial centre within MEASA to appear within the top 10 rankings, Dubai is now among globally ranked leaders such as London, New York, Hong Kong, and Singapore. In fact, the UAE is expected to lead the economic growth in the Middle East and North Africa with upwards of 3.0% growth expected by 2020. These figures, along with impressive growth in previous years, point to the UAE as a country with great potential to minimise negative impacts of Brexit.
CREATION BUSINESS CONSULTANTS
We know it can feel daunting to move your business to a new country. And by now, you’ve probably done your initial research and have heard about the requirements for Dubai mainland company setups and free zone company setups. Therefore, getting the correct company structure is vital to your business operations and success.
Creation Business Consultants helps UK businesses reduce all of the risks associated with Brexit and moving to the UAE by making sure you maintain control of your company. Our professional corporate nominee service offers UK companies a safe answer to mainland local ownership requirements in the UAE. Additionally, our team can help your company navigate the various local laws and regulations associated with moving your company to one of the 50 free zones throughout the UAE.
Regardless of whether you are setting up your company in a free zone or on the mainland, the professionals at Creation can help you set up your business in as little as 3 days. Our team can have your company setup, operational and earning you profits in the shortest amount of time. We can also take care of setting up your corporate bank account which at times can be a little challenging.
Creation Business Consultants will ensure your business experiences:
- 0% corporation tax.
- 0% personal tax.
- 100% control of your business.
- 100% company voting rights.
- 100% repatriation of capital and profits.
- No currency restrictions.
Whether you’re a UK business thinking of minimising the risk involved with a ‘deal’ or ‘no-deal’ Brexit, or you simply want to expand your global footprint, Dubai offers a relatively simple and speedy process with strong incentives. Contact a member of our team today to schedule your free consultation.