Calling Brexit divorce kids: how it impacts you and your business..
Oh well the divorce finally happened, now its messy moving out time. Except that the separation of shared assets is never easy: especially with the awkwardness of the context.
Here is a crisp run down of what it means to you as an EU citizen in the UK, and to your employer as well:
You, the EU citizen:
- By end of 2020 (dubbed as the transition period), if you and your family have spent more than 5 years in the UK, you’re considered to be eligible for a “settled” status. This grants you the possibility of residing and working in the UK indefinitely. If you have spent less than 5 years, you will have to wait for your turn in order to qualify. Once qualified, you will enjoy all the benefits of a UK citizen. If you are already a permanent resident of the UK, that status stays the same post Brexit as well.
- Settled or pre-settled, you will still be able to bring over your immediate family, spouse/partner by 29 March 2022. After that, such relatives will be able to join you via a standard UK immigration channel.
- No visa is required for the moment to cross over to the UK. This is likely to change as details work out with time.
Refer to this article for more detailed coverage on the status of an EU citizen [1].
You, the employer:
The impact of this divorce is likely to have ripple effects both intra and inter organization.
- Within the organization, changes in the employment law are likely to change the rules of engagement with employees who are EU citizens.
- Outside the organization, companies shuttling goods across the border are likely to bear the brunt of the change as they will most likely experience change in border tariffs. Other industries such as finance would be less impacted, but every business trading across the channel is likely to experience some form of transition. Read this article for more detailed coverage [2].
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