Brexit is driving companies out of the UK, and the Netherlands is raking in the corporate refugees.
About 250 companies are in talks with the Netherlands Foreign Investment Agency to potentially relocate activities to the country, according to a statement published on Saturday. The candidates would join 42 companies that made the move last year, and the 18 early birds in 2017.
“I wouldn’t be surprised if the largest Brexit wave is yet to come,” Jeroen Nijland, who heads NFIA, said in a telephone interview. “It normally takes about six months to two years from the first conversation we have with a company before it makes a decision, and our pipeline is now bigger than in earlier years.”
The Netherlands has emerged as one of the winners in securing businesses that seek to leave the UK because of Brexit, vying with countries like Germany, France and Ireland. The country, which bagged the European Medicines Agency — an EU agency moving from London to Amsterdam — is initially luring corporate entities in the financial and media sectors, both of which require permits to operate in the bloc, Nijland said.
The growth of Amsterdam as a trading hub will boost the Dutch share of European equity trading to around a third from five% currently, the financial markets regulator AFM estimates. The watchdog also expects the country to capture nearly 90% of European bond trading.
The media industry is another area where the Netherlands has picked up wins. Discovery Inc said in January it’s applying for broadcast licenses in the Netherlands to ensure its pay-TV channels will continue to show across the European Union in the event of a no-deal Brexit when the UK leaves the bloc on March 29.
Read more: Netherlands wins Brexit spoils amid corporate relocation talks
About 250 companies are in talks with the Netherlands Foreign Investment Agency to potentially relocate activities to the country, according to a statement published on Saturday. The candidates would join 42 companies that made the move last year, and the 18 early birds in 2017.
“I wouldn’t be surprised if the largest Brexit wave is yet to come,” Jeroen Nijland, who heads NFIA, said in a telephone interview. “It normally takes about six months to two years from the first conversation we have with a company before it makes a decision, and our pipeline is now bigger than in earlier years.”
The Netherlands has emerged as one of the winners in securing businesses that seek to leave the UK because of Brexit, vying with countries like Germany, France and Ireland. The country, which bagged the European Medicines Agency — an EU agency moving from London to Amsterdam — is initially luring corporate entities in the financial and media sectors, both of which require permits to operate in the bloc, Nijland said.
The growth of Amsterdam as a trading hub will boost the Dutch share of European equity trading to around a third from five% currently, the financial markets regulator AFM estimates. The watchdog also expects the country to capture nearly 90% of European bond trading.
The media industry is another area where the Netherlands has picked up wins. Discovery Inc said in January it’s applying for broadcast licenses in the Netherlands to ensure its pay-TV channels will continue to show across the European Union in the event of a no-deal Brexit when the UK leaves the bloc on March 29.
Read more: Netherlands wins Brexit spoils amid corporate relocation talks
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