Skip links

BREXIT – Are you in an Affected Industry?

Affected Industries:

  1. Professional services
  2. Technical Services
  3. Advertising
  4. Consulting,
  5. Financial services
  6. Intellectual or Intangible Property
  7. Data Processing
  8. Digital Services

What has changed?

Whilst other industries may also be affected in one way or another, the above list is particularly impacted where services are provided to EU Consumers.

Before BREXIT, UK VAT was payable on these services. Now, VAT is payable in the country of the consumer.

What does this mean for my business?

In most cases this means you will have to register for VAT in the country of the consumer.

A Possible Solution

Establishing a Branch in an EU jurisdiction can ensure that you continue to provide your services as you did before, to all your consumers, while accounting for all VAT in one place.

Cyprus, as a member of the EU and EEA, is a popular destination for UK businesses. You can setup here with no risk of your UK Company losing its limited liability status following Brexit.

Benefits of Cyprus

  1. Part of EU for VAT
  2. Low corporation tax rates
  3. Booming finance and tourism
  4. Similar common law basis for the recognition of companies and trusts
  5. Low setup and annual costs for companies
  6. Simple MOSS (Mini One Stop Shop) registration process

Setup a free 30 minute consultation

Leave a comment