As you will know UK had mad the decision to exit the EU what is known as BREXIT. UK left the EU on 31 January 2020 and entered a transition period which is due to operate until 31 December 2020. During the transition period, EU law will continue to apply in the UK and passporting will continue.
At the end of the transition period on 31 December 2020, some European Economic Area (EEA) firms will choose to enter the TPR to continue providing services in the UK for a limited period. Other EEA firms will enter the FSCR, if they have decided to wind down their UK business.
FCA recognises that international firms have been and will continue to be a key contributor to the success of the UK financial services market. Operational objectives set by FCA, amongst others, provide the need to secure an appropriate degree of protection for UK consumers, protect and enhance the integrity of the UK’s financial system while promoting effective competition in the interests of consumers.
In order to effectively supervise a firm’s UK activities, international firms that require authorisation to undertake regulated business in the UK will be expected to have a physical place of business in the UK, whether this is via a branch or subsidiary.
MaNe IDR in cooperation with FinCap offers you the opportunity to have your own branch established for you or the opportunity to set up a subsidiary new IF in UK.
Establishing a branch from your IF company would require the submission for approval to FSA and then apply for approval to the FCA. As can someone imagine this is not something that can happen within a day hence the need to act today.
Please contact us further for a full cost analysis and services that can be provided for the ongoing support of the Branch. (submission, rental of office, annual fees for registered office, opening bank accounts, accounting services, compliance /AML compliance support or outsourced, tax filings and branch audit and others.
If your company intends to open your own Investment Firm as subsidiary or detached, we can prepare an offer as well.
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