EU Advises Businesses to Ramp Up Brexit Preparations
View Debevoise Update
Key takeaways:
- The EU has advised businesses operating in the EU to move from “contingency planning” towards “preparedness measures” to mitigate the impact of the UK’s withdrawal from the EU, in particular in the event of a “no deal” Brexit.
- Businesses face numerous challenges in the event of a “no deal” Brexit, including on customs, passporting rights, transfer of personal data between the UK and the EU and recognition of UK professional qualifications in the EU.
- Although the UK is also stepping up its Brexit preparations, the UK government says that it remains confident that a deal can be reached with the EU.