May 10, 2023 Resetting the European relationship
The seeds of the European Union were sown on 9th May 1950 when the then French Foreign Minister, Robert Schuman, proposed the creation of a European coal and steel community. Since that time the European project has travelled on multiple pathways in its quest to open up free trade across the continent.
Marking the anniversary on 9th May 2023 the European Ambassador to the UK Pedro Serrano, in tandem with 27 EU heads of mission representing the various EU countries, signed an open letter calling for closer ties between the EU and the UK. Recognising common goals, the letter comments that “the EU and the UK have rediscovered each other, and the strong ties that unite them, in their defence of Ukraine and of peace in Europe.” The signing of the Windsor framework for trade with Northern Ireland also comes in for a mention.
As a result, the signatories to the letter say, there has been a “much welcome and necessary regain in trust in EU-UK relations. Recognising that “a strong UK and a strong EU are valuable partners” the task now, they say, is for action to be taken to “build on this reengagement.”
Some organisations may see this resetting of European relationships as a chance to look towards increasing their levels of representation in the UK. For example, the setting up of a UK subsidiary can prove beneficial not only from a tax and regulatory standpoint but also can help to smooth out UK operating pathways. In addition, having a presence in the UK can help to provide a local platform which may attract UK clients as well as those potential clients who are looking to trade into or out of the UK.
Elemental has the expertise to offer a complete UK subsidiary formation and management service including, if required, a domiciliation service. This can help organisations to establish a UK base from which to not only trade within the UK but also out into Europe and the rest of the world. Support provided can include UK resident directors, administration, legal and finance support and the provision of occasional office space if required.
For those overseas entities which own or lease UK real estate, Elemental can provide a full Register of Overseas Entities service. As a UK regulated agent, Elemental can not only provide advice on the information required but also verify that information in order to meet Companies House listing requirements.
The statement by the EU heads of mission marks an important turning point in post-Brexit relationships between the UK and EU. The task is now to establish business structures which enable organisations to optimise a future trading relationship.