Brexit is here!
The UK has now left the EU and the single market. Although no tariffs and no quotas have been agreed, the reality is that Brexit is causing disruptions, such as customs checks and paperwork, leading to a decrease in cross border trade.
Is your business affected by Brexit? Are you looking to set up a legal entity in Germany in order to be able to trade and distribute goods without disruptions?
Our Team offers a wide range of legal services, especially for small and medium sized enterprises and other business based in the UK and which are commercially active in Europe or vice versa.
UK-EU trade has collapsed post Brexit - as firms are still adapting
Mar 14, 2021
Preliminary imports and exports data for the first month in which the UK traded with the EU on new terms following the end of the Brexit transition period has confirmed that post-Brexit trade has indeed suffered a steep decline.
For example, the goods imports from the UK to Germany shrank by €2bn in January compared with the same month in 2020 to just €1.6bn. This is a 56.2 per cent plunge in sales and exports. The plunge for products moving in the other direction was around 29 percent.
It is becoming more and more clear that companies are not adjusting to the red tape and non tariff-barriers. Disruptions may be down to a somewhat lower demand due to national lockdowns, however lower product exports are also undeniably due to disruptions as firms got to grips with the new paperwork and processes.
Brexit to cost UK economy more than EU
Feb 12, 2021
It is being predicted that the UK economy will suffer a lot more from the effects of Brexit than that of the EU. Experts say, UK's GDP will be down 2.25% by the end of 2022 compared to a situation of continued membership. The EU's hit in relation to its GDP is estimated to be only about 0.5% for the same time period.
Although the Free Trade Agreement negotiated softens the blow for the economy, the impact for the UK will nonetheless be felt in a number of economies. The above number is equivalent to a loss of GBP 40 bn over two years.
The EU commission said the “trade shock” from the so-called non-tariff barriers resulting from Brexit amounted to the equivalent of a tax on imports worth 10.9% for the EU and 8.5% for the UK.
Post-Brexit red tape hitting exports to EU
Feb 11, 2021
UK producers wanting to introduce products into the EU are facing substantial challenges and border disruption. A month after the implementation of new rules, the new rules are turning out to be the equivalent of non-tariff barriers. For some small and medium sized businesses these disruptions may prove to be existential.
Also, more problems are being expected in relation to the situation in Northern Ireland. The EU has ruled out a two year transition period on the Protocol as proposed by the UK government. Further, UK businesses are demanding changes for the services sector.
German Attorneys
Our team based in Dusseldorf, Germany is comprised of a number of highly qualified German attorneys who are admitted to the bar in Germany.
The attorneys are fluent in a number of languages and are able to provide you with the highest quality of legal advice in German, English, Italian and Danish.
Legal Advice
We offer a wide range of legal advice, including the following areas of expertise:
- Corporate and Commercial law
- Contract law
- Litigation and Dispute Resolution
- Employment law
- International private law
- Conflict of laws
- IP / IT law
- Real Estate and Property law
- Tax law
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Contact us via email and we will gladly get back to you as soon as we can.
We do not operate on conventional opening hours as we understand that time is pressing and will do our best to provide you with our full support even at short notice.
