London Financial Firms Prepared for EU Relocations Post-Brexit

According to the latest EY survey, around a third of financial services firms in London have confirmed contingency plans to establish European hubs after Brexit.

Although the agreement on a post-Brexit transition period had “not stemmed the steady stream” of companies confirming their contingency plans; the EY has reported that a total of 75 out of the 222 firms had developed plans ahead of Britain leaving the EU.

The survey came just as the London mayor; Sadiq Khan, warned MPs that jobs and investments were at risk in the capital and other UK cities. This is because “the government was not doing enough to safeguard services in Brexit talks.”

Released on the 25th June, EY’s Financial Services Brexit Tracker found that there has been a two per cent increase (34%) since March, in the number of companies confirming their plans to move some of their operations or staff from the UK.

About a quarter of the firms have plans to relocate staff to one or more of the EU locations; with Dublin and Frankfurt being the most popular locations for relocation. Currently, 32 companies have confirmed plans to move staff from the UK. This is up from 28 in the first quarter.

While most firms are yet to iron out the finer details of their relocation plans; the survey shows that there is evidence to suggest that they are making decisions about the future of their employees in the UK.

Speaking to the House of Commons Public Administration and Constitutional Affairs Committee, Mr Khan pointed out that trade in services accounted for about 40 per cent of UK exports to the EU. However, the sector accounted for more than 90 per cent of the economies of London; Manchester and Edinburgh. As well as more than 80 per cent in Leeds and Birmingham.

Are you looking to put together a contingency plan ahead of Brexit, just in case things don’t go ahead as planned?

Galleon International has a team of global mobility experts who will put together specialised and unique programmes for your corporate relocation. For more information on how Galleon International can be here to help your business and its employees’ overseas move; get in touch today on 01708 868 068.

Moving To Canada – Everything You Need To Know

From the idyllic landscapes to thriving cities, it’s hard not to get excited when you hear about relocating to Canada. After all, the country is known for its “niceness,” making it a great place to live for you and your family.

However, as you prepare to embrace the Canadian way of life; it’s important you understand local customs and knowledge that may be different from what you are used to at home.

Galleon International’s team of international relocation experts have put together a guide that will help you when moving overseas and integrating into Canadian life

1. Weather

When it comes to rain or shine, Canada has the best of both worlds. Unless you’re living on the British Columbia Coast in the west, you will experience cold; snowy winters and hot summers as well as short transitional seasons.

For those moving abroad from a mild or warm climate, the bitter cold of a Canadian winter will shock you. A true winter in Canada can reach temperatures of -25°C so make sure you purchase ski jackets and gloves ahead of time.

2. Cost of Living 

There’s nothing quite as shocking as moving to a new city and realising how expensive rent or transportation is, so make sure you know the basic cost of living before you move.
Research is crucial. Toronto and Vancouver, particularly in the downtown areas, are relatively expensive while Montreal has low property values and low rent – as well as lower salaries.

3. Healthcare


Known around the world for its excellence, Canada’s healthcare is delivered through a publicly-funded system. However, some services are provided by private entities. A health card is issued by the Provincial Ministry of Health to each individual who enrols for the program and everyone will receive the same level of care with this card.

In some provinces, you will have to wait a few months for your provincial coverage to begin. In the meantime, private comprehensive health insurance policies are available during that period.

4. Driving Licenses

Unfortunately, the driving examination you have completed in your home country may not be valid in Canada or require paperwork in order to be converted. Even then, driving licenses are a minefield.

Firstly, Canadian driving licenses are awarded by the provinces – not the federal government. This means the individual provinces have their own driving rules and testing procedures.

Secondly, different countries around the world will have particular agreements with the provinces. Before you leave for Canada, take a look at the full rules for international licence-holders in your province. Also, make sure you have the correct documentation before you arrive.

 

Still, have some questions about moving to Canada? Why not get in touch with the team at Galleon International.

As part of our corporate relocation services, our industry partners and overseas agents are available 24/7 to provide unknown facts and local knowledge about your new home. They can also provide useful cultural information; as well as primary contact details for any services you may need while settling into your new home country.

Get in touch with our team on 01708 868 068 for more information about relocating to Canada and our international removal services.