Companies House has published two guidance notes on changes that will take place if the UK leaves the European Union (EU) without a deal. (The notes also assume that the UK will not join the European Economic Area (EEA).) The notes relate to changing a company registration and Companies House forms.
The key points arising from the notes are as follows:
- UK companies which have a corporate officer incorporated in another EEA country will need to provide additional information on that officer to Companies House. The same change affects UK limited liability partnerships (LLPs) which have a corporate member.
- Any cross-border merger involving a UK company or UK LLP must be registered before exit day.
- Overseas companies established within the EEA will need to start reporting the same information to Companies House as those outside the EEA. Companies House will provide more information nearer the time.
- Any European companies (SEs) and European Economic Interest Groupings (EEIGs) registered in the UK on “exit day” will automatically be re-registered as new forms of UK corporate entity. This will effectively leave these entities “locked into” the UK and unable to migrate. An SE or EEIG that wishes to preserve its ability to migrate across the EU will need to move its seat of registration out of the UK to another EU state before exit day.
The changes will come into effect at 11:00 p.m. on 29 March 2019 if the UK leaves the EU without a deal.