NEWS

Before and after the Brexit

18Jul

Derecho Inmobiliario y cuestiones Fiscales

The most obvious immediate impact for British clients has been the drop in the value of Sterling. Currently, the rate is around 1.20 Pounds to the Euro, having dropped just under 10% since the vote to leave was confirmed. The value may fall further but the UK Government has already said that it would take steps to shore up the Pound if necessary.

 A report last week claimed that the number of British citizens looking to move abroad had increased by 30% with Spain being the third most sought-after destination after Australia and Canada. Another study by the London School of Economics suggested that around 10% of 18 to 25-year-olds who voted ‘Remain’ are now considering a move abroad.

before and after brexit

  • European Central Bank is closely monitoring financial markets

ECB continues to fulfil its responsibilities to ensure price stability and financial stability in the euro area. Following the outcome of the UK referendum, the European Central Bank (ECB) is closely monitoring financial markets and is in close contact with other central banks. The ECB stands ready to provide additional liquidity, if needed, in euro and foreign currencies.

  • The requirement for notarization of company documents, such as certificates of good standing, certificates of incorporation and articles of association, will not change – these requirements are usually the product of domestic law, both from within the EU, and countries elsewhere in the world.
  • The customers who invest in property, finances and different investments in the foreign country can have some changes. Nevertheless, is not clear what these changes will be but the Bufete Frau team assist companies and people to introduce at the Administration the correct documents.

    Finally, a reassuring message: although the next few days, weeks and months will be full of uncertainty, you can be sure of one thing –  the team at Bufete Frau will continue to provide high-quality, fast and efficient notarization, legalization and translation as normal.

    If you would like to discuss the impacts of Brexit on your business in more detail, or need help with notarization, legalization or translation work, please contact Bufete Frau team.

     

    I wish to sign up to the Newsletter of Bufete Frau We are also very near to you and if you wish you can visit us in any of our offices in: Palma Sóller Ibiza If you prefer please contact us on 971 228 036 / “always open”

 

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