Despite the threat of exit from the EU in less than four months’ time, HSBC’s board recently voted unanimously to keep its headquarters in London for the foreseeable future. Highlighting the UK's “internationally recognised” regulatory framework and legal system, as well as its workforce, HSBC’s chairman, Douglas Flint credited London’s reputation as the largest and most international financial centre as a principal reason for staying.
According to the Centre for Economics Business and Research, Britain is forecast to become the fourth largest economy in the world, overtaking Germany and Japan over the next two decades. The UK is also set to become the best performing economy in the western world over the next 15 years, boosted by its leading position in the global software and IT sectors.
The department for UK Trade and Investment (UKTI) regards the UK as “the Number One destination for Foreign Direct Investment (FDI) in Europe”. During 2014/15, UKTI recorded a total of 1,988 FDI projects, 12% more than in the previous record-breaking year.
Stevens & Bolton regularly advises international businesses who are looking to make a move into the UK market, either by way of acquisition or by developing a business presence from scratch. We, often working closely with UKTI, can assist with establishing your presence in the UK including employment, immigration, trading and business arrangements, real estate, tax and finance advice and ensuring compliance with relevant regulation.
See here for our short guide for businesses outside the UK (or their advisors) who are considering establishing a permanent presence in the UK.
If you would like to discuss any of the above, please do not hesitate to contact Ken Woffenden, Jonathan Porteous, Nick Atkins or another member of the Stevens & Bolton team.