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24 June 2016 it was announced that Britain will exit the European Union. It will most certainly be a rough legal terrain in the near future to come. UK will first of all have to renegotiate all existing agreements with the EU and, not forgetting, the agreement with the rest of the EU Member States including Norway as a trade partner through the EEA Agreement.
Norwegian companies and UK companies doing business in Norway will be directly affected through the impact that the Brexit will have in the areas as trade, agriculture, state aid, defense, economy, taxation, environment and public benefits and especially the development of the internal digital market and liberalization of services.
The result will first of all be regulatory divergence which will increase over time. This will impact both Norwegian and UK companies that have invested or are trading cross border, but the magnitude depends on the specific Brexitmodel and is impossible to predict.
Arntzen de Besche has a strong legal team within European law who has a unique competence in the area of trade between companies outside the EU and EU Member States. Our legal experts are ready to answer the questions that you might have regarding the impact of the Brexit for your business in the UK or in Norway.