The Provision Of Investment Services In Luxembourg In A Post-Brexit World: What You Need To Know

On 1st January 2021, the transition period agreed upon between the United Kingdom and the European Union, after the UK left the EU pursuant to a mutual agreement (Brexit), came to an end. This date is of particular relevance for entities active in the financial sector. Specifically, UK entities such as credit institutions, payment institutions, insurance undertakings and investment firms may no longer rely on the EU passport, which is set out under various sectorial EU directives, which enabled them to either establish a permanent presence in an EU jurisdiction by way of a branch (freedom of establishment) but also allowed them to carry out their services on a cross-border basis without the establishment of such permanent presence (freedom of services).

Brexit Deal – Key Outcomes Fro…