Tomorrow – Thursday June 23, 2016 – British citizens vote on the historic referendum on Great Britain’s membership in the European Union. A recent “poll-of-polls” indicates the vote will be close. EU policy and legislation shapes several vital legal sectors, such as employment, financial services, intellectual property, company law, customs regulations and VAT. Fundamentally, the freedom of movement of goods, persons, services and capital lies at the heart of the European project of integration between the 28 Member States, and countless laws in various fields have harmonized the freedoms of movement across the EU. Businesses, customers and suppliers may therefore have to re-evaluate their ability to freely transfer goods, data, and funds in the coming months, wherever these occur between the UK and other EU Member States.
In some countries, such as Malta, relationships other than or pre-dating EU law and integration may mean the citizenship and residency of British expats are unlikely to be affected. However, some British residents in Malta, as in all EU countries in the case of a “Leave” vote, need to consider that Brexit may affect the conditions related to their work permits and access to some tax credits and social security benefits. To determine how Brexit and its repercussions will impact your personal or business interests, consult an attorney at your Ally Law member firm.
Post the Brexit vote, whichever way it goes, an Ally Law member firm can provide legal advice on your EU and/or British business interests going forward, and measures you may want to consider to protect your interests should such an EU-membership issue arise in the future in countries in which you do business. For more information about Ally Law member firm services in this area, contact us at yourally@ally-law.com.
By Rachel Vella Baldacchino of WH Partners.
