Telecoms, Broadcasting And Electronics Sector
The telecommunications sector is considered part of the UK’s critical national infrastructure. It contributed £32 billion to the UK economy in 2017. Companies were overseen by the Body for European Regulation of Electronic Communications (BEREC). Having now left the EU, companies have to form new relationships with new stakeholders within a UK regulatory authority. Additionally, the UK is free to change the laws that were originally introduced according to EU requirements.
Two key areas of the telecom, broadcasting and electronic sector have been influenced by Brexit. New regulations have been imposed on companies, and so they will have to undergo changes that could be costly in order for their applications to be accepted. They have also witnessed an increase in prices in the UK.
Benefits Of Establishing A Branch In Cyprus
Creating a branch for your UK operation in Cyprus, which remains a member of the EU, can assist in resolving Brexit related issues in a number of ways. This is because it will allow you to retain the same regulations to which you are already accustomed, and so you can maintain the competitive advantage.
For further sector-specific benefits of having a branch of your telecom, broadcasting and electronic business in Cyprus, contact us today.
EQ:IQ And The UK Telecoms, Broadcasting And Electronics Sector
At EQ:IQ we are proud to offer an extensive range of services that are hugely beneficial to businesses in the telecom, broadcasting and electronic sector. This is especially true for those seeking growth, development and international expansion. Our services include:
- Company and trust formation
- Regulatory support from a well-established and respected regulatory body
- Audit, accounting and payroll
- Tax advice and structuring
- Serviced offices and commercial substance
- Access to trained and qualified professionals