Brexit

Even though the precise meaning of Brexit remains uncertain, firms (financial services and otherwise) have to anticipate its impact on their operations in the European Union (EU) and beyond, and take action.

To secure their access to the EU market, many major asset managers intend to move some of their operations to an EU Member State. Others, use scenario planning, to take latest developments into account, to develop alternative post-Brexit strategies addressing issues related to people, policy and passporting of goods and services, etc.

Given Brexit, Luxembourg is a natural destination of choice for all alternative investments fund managers. It has expertise in Alternative investment vehicles. It is global fund-distribution centre. It has a multicultural workforce, and a stable tax and regulatory environment.

At PwC Luxembourg, we have been actively supporting our clients digest the meaning of Brexit, and help with their Readiness Plans. The impacts vary enormously. Our advise to our clients, in any event, is to continue to focus on their growth strategies, and to develop options to manage the challenges and opportunities that lie ahead.