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Netherlands reports dozens Brexit-related company moves from UK

February 09, 2019

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More than 40 companies last year moved, or said they would move, their operations from Britain to the Netherlands in response to Brexit uncertainties, Dutch authorities reported on Saturday. — File
More than 40 companies last year moved, or said they would move, their operations from Britain to the Netherlands in response to Brexit uncertainties, Dutch authorities reported on Saturday. — File

More than 40 companies last year moved, or said they would move, their operations from Britain to the Netherlands in response to Brexit uncertainties, Dutch authorities reported on Saturday.

The combined moves of 42 companies will translate into the shift of just under 2,000 jobs and of 291 million euros ($330 million) in investments, the Dutch agency for foreign investment said in a statement.

Most of the companies are British, but some are from Asia or the United States.

The Dutch government welcomed the figures, with Economy Minister Eric Wiebes saying that "due to the growing international uncertainty surrounding Brexit and changing global trade policies, the importance of a good Dutch business climate for all of us is continually increasing".

The list includes Japanese investment bank Norinchukin, media company TVT Media, financial services providers MarketAxess and Azimo, and maritime insurer UK P&I, the agency said.

Some of the companies were also looking at moving some operations elsewhere in the European Union (EU), including Germany, France and Ireland, it said.

In addition to relocations by corporates, the European Medicines Agency (EMA), an EU agency, has said that it will move from London to Amsterdam as it cannot legally remain in a non-EU country.

Britain is to leave the EU on March 29, and uncertainty about the shape of any agreement with Brussels by that date has created unease in the business community, with many British and multinational companies having already announced moves to elsewhere in the EU.