Brexit: 250 UK companies discuss moving to Netherlands
Brexit: 250 UK companies discuss moving to Netherlands
The Dutch government has said it is in talks with “more than 250 companies” about moving operations to the Netherlands from the UK before Brexit.
The economic affairs ministry said it had already lured 42 companies or branch offices and 1,923 jobs from Britain in 2018 as it steps up its bid for Brexit spoils.
Among those who have chosen to invest in the country are the Discovery Channel, Sony and Bloomberg.
The continuing charm offensive comes as companies in the UK continue to progress with contingency plansincluding Sony, which announced last month it was moving its European headquarters .
Sony’s rival Panasonic has already moved its headquarters to Amsterdam.
The Dutch government report named another Japanese company, the investment bank Norinchukin, which was making the move to the Dutch capital along with global content company , financial services providers MarketAxess and Azimo.
The maritime insurer UK P&I Club is among companies that have not already been reported as making the move to the Netherlands
While Mark Rutte, the Dutch prime minister, recently said he did not see Brexit as a business opportunity, countries including Ireland, France, Germany, Belgium and Luxembourg have been actively looking for opportunities to capitalise on Brexit ever since the EU referendum.
Banks and other financial services are obliged to have operations in a member state as are broadcasters if they want to continue to serve a pan-EU market.
“In 2019, several companies including Discovery and Bloomberg have already announced their intention to invest in the Netherlands because of Brexit,” the ministry said. “Additionally, the Netherlands foreign investment agency is talking with more than 250 foreign companies considering setting up operations in the Netherlands following Brexit.”
The government report said most of the 250 companies were British, but some were American or Asian firms reconsidering their European branch structures.
“These include companies in the financial sector, media and advertising, life sciences and health and logistics,” it said.
Broadcasters who transmit services across Europe need to have a licence in one EU member state in order to meet pan-European regulations.
The BBC is considering setting up an international base in Belgium.
The number of companies relocating to an EU member state is expected to grow with recent warnings from the Institute of Directors and the Confederation of British industry that business needs certainty and visibility for investment and could not ride out that political uncertainty.
France has identified as many as 50 companies, including motor and pharmaceutical industries, that it is trying to entice across the channel.
Last month Emmanuel Macron, the French president, hosted an investment summit for more than 140 business leaders, including bosses of companies with a significant British presence such as Goldman Sachs, Google and Siemens.
Last week the boss of Siemens UK, Jürgen Maier, said Britain and the Conservative party were being held to ransom by hardline Brexiters in the ERG.