Background: The UK is set to leave the EU on 29 March 2019 (exit day), barring:
- An extension of the two-year Article 50 period
- A withdrawal agreement concluded with a different commencement date
- Revocation of the Article 50 notice
In an effort to guarantee a seamless transition regardless of the eventual outcome, the UK government has been planning for all eventualities, including a no-deal scenario. The decision to leave will have far-reaching implications for business activities not just in the UK and Europe, but across the world. Many businesses in Asia-Pacific especially, with operations or subsidiaries in either the UK or the EU, should pay close attention to the implications of the exit, regardless of how it will happen. In light of the complexities surrounding crucial issues, your organisations are relying on you, as strategic and legal advisors, to step up and lead in times of uncertainty and change. To ensure your preparedness, this white paper outlines the current situation and the legal implications of a post-Brexit landscape. Key practice areas that might be impacted by Brexit are also highlighted, with some recommended next steps to guide you until exit day and beyond.