What the Brexit immigration implications are for the Financial Services sector

The Financial Services and FinTech industry relies on talent from outside the UK; therefore, uncertainty surrounding the UK leaving the EU remains a concern.

With nearly four times as many overseas migrants working in UK FinTech organizations versus the UK workforce in its entirety, it’s imperative that FinTech organisations assess and identify their reliance on EU talent and the impacts of either a ‘deal’ or a ‘no–deal’ scenario.

The distinction between ‘business activities’, which can be performed as a visitor and ‘work’, which will need a work permit, will become ever more important when mitigating for the loss of freedom of movement and the flexibility this has enabled in the past.

The full article can be accessed here.

EY Law key contacts:

Paula Hogéus

EY Global Labor & Employment Law Leader

Philippe Zimmermann

EY Global FSO Law Leader; Law Sector Leader, Banking & Capital Markets