A survey undertaken by LIIBA has highlighted Belgium as the location of choice for London brokers’ EU entities post-Brexit.
Nearly a quarter of broking houses chose the country, with Ireland and France the next most popular locations, accounting for 16% each.
“Brokers have worked hard to ensure that they are prepared for Brexit,” said Christopher Croft, Chief Executive Officer of LIIBA.
“Our members have taken prudent and positive steps to ensure that they have ‘reverse branches’ in place to be in a position to continue to support their clients in the EU.”
Croft added that LIIBA is confident that whatever the outcome of the negotiations, London will still be able to play a key role in helping European businesses to manage their risks.
“We are not surprised that so many of our members have chosen Belgium as the location for their EU entity,” He noted.
“The Ministry of Finance took a proactive and pragmatic approach to creating a regulatory, tax and employment framework that provided a first-class solution for brokers. We are grateful to them for the support they have shown.”