In June 2016, the United Kingdom (“UK”) voted in a referendum to withdraw from the European Union (“EU”) (“Brexit”).
The negotiations between the EU and the UK concerning the withdrawal officially started on 19 June 2017 and must be concluded within a two-year period, namely by the end of March 2019.
On 14 November 2018, the UK and the EU agreed a draft withdrawal agreement. Under the withdrawal agreement, the UK will leave the EU at midnight on 29 March 2019. There will be a transition phase until the end of 2020, during which the UK will continue to have access to the internal market and will participate in the customs union.
However, on 15 January 2019, the UK Parliament rejected the draft withdrawal agreement. Since then, a no-deal outcome has been looking increasingly likely. What will the impact be for Belgian companies? Belgium is one of the countries most vulnerable to Brexit due to its strong trade links with the UK. Almost 9% of total exports from Belgium are destined for the UK and nearly 5% of Belgium’s total imports come from the UK. Brexit is about more than the potential for tariffs and customs procedures to be re-introduced. Significant regulatory issues may arise, new dispute settlement procedures are likely to be needed and the cost of doing business with the UK will rise.
The purpose of this website is to keep you well informed about the legal implications of the upcoming events.
Your Brexit Key Contacts:
- Aviation: Annabelle Lepièce
- Banking & Finance: Benoît Vandervelde
- Commercial law: Renaud Dupont
- Competition law: Annabelle Lepièce
- Corporate law: Carl Leermakers
- Employment & Pensions law: Gaël Chuffart, Sophie Berg, Elke Duden
- Privacy and Data Protection: Tom De Cordier
- Insurance: Virginie Frémat
- Intellectual Property: Tom Heremans
- Intragroup Restructuring & Mergers: Stéphane Collin
- Real Estate: Pierre-Axel Chabot
- Tax: Olivier Querinjean
Discover our Brexit checklists under the section "Explore more" below.