Following a significant amount of suspense spanning much of 2020, the UK and EU finally reached a trade agreement on 24th December 2020. This new deal will regulate how many UK organisations across a variety of sectors will be conducting business with partners and clients in the EU.
As far as trade considerations go, employers should be aware of these aspects of the new agreement:
- No extra tariffs will be implemented for goods being imported or exported between the UK and the EU.
- No limits will be imposed as it pertains to the number of goods that can be traded between the UK and the EU.
- Professional qualifications between the UK and EU—such as those of doctors and nurses—will no longer receive automatic recognition.
Many organisations will also have to familiarise themselves with the travel implications of the new agreement. Key elements that should be considered include:
- A visa will be now required for UK citizens to be able to live, work, study or start a business in the EU.
- Border checks will be longer for UK travellers.
- A visa of longer than 90 days will be required if a UK national intends to visit the EU for longer than 180 days.
- International mobile roaming rates will remain ‘fair and transparent’, but UK travellers may still be subject to additional charges while in the EU.
- European Health Insurance Cards (EHIC) will continue to grant UK travellers access to emergency health care until their expiration dates. After expiration, UK Global Health Insurance Cards will serve as replacements.
In addition to these key points, there are many other changes that organisations must understand about trade and travel between the UK and EU.
Content by Zywave, Inc provided by TH March.