Brexit: - What happens next?

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United Kingdom leaving the European Union represented in puzzle pieces., © istock - copyright free

31.01.2020 - Article

Last week, the withdrawal agreement was signed by the UK and the EU, and Brexit came into force on February 1st. What will remain the same, what will change? Here is an overview of the most important information.

For the time being, the departure of the UK will not change anything for either citizens or companies:

  • A transition period until 31 December 2020 is anchored in the Withdrawal Agreement, during which EU law continues to apply to the UK. The UK remains a part of the EU single market and the EU customs union.
  • The EU’s freedom of movement, i.e. the right to live, work, study or have social security coverage in the EU and in the UK continues to apply in full during this period.
  • Under the Withdrawal Agreement, the transition period may be extended once by up to two years; the decision on this must be made by 1 July 2020. In particular, the transition phase provides citizens as well as the business sector with crucial planning certainty.

The Withdrawal Agreement also creates legal certainty in key spheres for the time after the transition period, i.e. from 1 January 2021 at the earliest:

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