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Rakhi Vasavada
Rakhi Vasavada, Financial Advisor
Category: Finance
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Experience:  Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
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My new UK Ltd is currently in the fund-raising phase

Customer Question

My new UK Ltd is currently in the fund-raising phase (started proposing its stock to prospective investors). How is it affected by the Brexit? To what should we pay attention? I am the director and an EU (not-UK) citizen residing in Switzerland. Thanks, George
Submitted: 9 months ago.
Category: Finance
Expert:  Rakhi Vasavada replied 9 months ago.

Dear *****,

Hello and welcome. Thank you for providing an opportunity to assist you.

To begin with, Brexit -- HAS happened. Having said this, it is important to note that life for EU or British Citizens will NOT change overnight. It will take quite a time until UK evokes Article 50 of the Charter. Nothing will change overnight, no travels will be restricted no fresh trade barriers will be there.

HOWEVER, one has to look beyond two years. Keeping this in mind, one cannot rule out seeing trade barriers between EU and UK coming into force. We can also see adverse taxation issues coming up as well. With GBP depreciating, the people in UK will find it costlier to transact with Euro.

Keeping this in mind, my suggestion would be to focus your marketing efforts within UK if you choose to reside and remain domiciled in UK. So far as outside UK target investors are concerned, you can market them on the basis that their investment will fetcher more number of units given the GBP depreciation, but I am not sure what taxation scenario will be after two years time.

So, if the company is UK based and it plans to remain domiciled in UK, more focus and resources should be used in tapping UK / domestic investors due to various concerns that I raised in my above reply.

I am sure this would help.

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards,

Customer: replied 9 months ago.
Thanks for your answer. Could you please clarify if you can, when is the soonest that VISA could be required for EU citizens?
Expert:  Rakhi Vasavada replied 9 months ago.

Dear *****,

Hello and welcome again.

Thanks for the reply. As you too will agree, there is total chaos and mayhem at the political helm in the UK. However, first of all, I see just nothing happening until this October. Following that, I do not see such VISA requirements coming up at least for next another year. The reason is, until UK "formally" moves out, this will not come into force. It can take minimum of one year to as much as two years.

I am sure this would help.

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards,

Rakhi Vasavada, Financial Advisor
Category: Finance
Satisfied Customers: 4527
Experience: Attorney and Financial Expert. Have specialization in Financial Laws.Practice experience of over 13 years
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