A financial services organisation based in a candidate country for EU accession in the Balkans has committed to expanding its operations internationally acquiring a UK business and relocating key decision makers to the UK.
Sovereign has assisted the firm to acquire a Financial Conduct Authority-regulated UK company, which then applied to the Home Office for a sponsorship licence to enable it to recruit skilled staff employed in the firm’s Balkan headquarters.
UK Visas and Immigration has now approved these strategic overseas staff and some have recently relocated to the UK to assist with transforming the newly acquired UK business into their new European headquarters.
One of the founders is also relocating from an EU member state to the UK and is in the process of applying under the EU Settlement Scheme. This allows an EU, EEA or Swiss citizen and their family to continue living in the UK after 30 June 2021.
Sovereign is now in the process of setting up a tailored ‘family office’ arrangement for the firm through which we are taking care of all UK in-bound immigration formalities, assisting with UK and overseas banking requirements and addressing non-UK domiciled tax planning issues, including establishing an Excluded Property Trust.
Simon Denton, managing director of Sovereign (UK) Ltd., said: “The levels of investment the UK has attracted over previous years from foreign investors is testimony to the excellent business, legal, regulatory and social environment that we have created as a country.
“Sovereign is able to assist with all market entry requirements for the UK, in respect of both the commercial imperatives of the business itself and the personal requirements of its key decision-makers. Inside or outside the EU, the UK will keep up its key strengths – its pro-growth, open and stable business environment – in order to maintain success as a destination for foreign investment.”