So this report sets out to answer this question: ‘If it is necessary to set up a new regulated entity somewhere inside the EEA but outside the UK, which countries should UK- and Gibraltar-based companies consider?’
The report has been produced by Ramparts European Law Firm in association with Polymath Consulting. It has been funded by a syndicate of Payments Association Members including lead sponsor Railsbank and other sponsors Payment Cloud Technologies, Saxo Payments, Choice Bank, Stored Value Solutions, Wirecard Group and IDT Finance.
We are grateful for the input of many parties, including those in the 15 countries reviewed which has made this report possible. The project would also not have been possible without the support of the Payments Association Project Europe Team, led by Andrea Dunlop from Paysafe Group.
This report provides members of the Payments Association and the wider FinTech community with a guide to use if the UK’s departure from the EU denies them passporting rights. While likely to have a negative impact on its economy, the report shows that there are alternatives that payments companies based in the UK can go to ensure Brexit’s negative impact on payments companies is minimised.