98 firms have opted to open shop in the Netherlands because of Brexit

The Netherlands Foreign Investment Agency (NFIA) agency said on Monday that 98 firms have decided to relocate operations from Britain to the Netherlands because of Brexit.

It’s not only British companies that are relocating, but also cmpanies from North America, Asia and Australia. The NFIA said that firms are orienting themselves differently on the possibilities of Europe in light of Brexit.

The Netherlands has reportedly become an attractive location for businesses in finance, information technology, media, advertising, life sciences and health.

According to the NFIA, companies that have already opted for the Netherlands mostly have urgent reasons, such as the need of a banking license or broadcasting rights to remain active in the EU.

In addition, a further 325 companies are “interested” in setting up operations in the Netherlands due to the uncertain position of the UK in the European Union, the agency said.

“The ongoing growing uncertainty in the United Kingdom, and the increasingly clearer possibility of a no deal, is causing major economic unrest for these companies,” said Jeroen Nijland, NFIA commissioner. “That is why more and more companies are orienting themselves in the Netherlands as a potential new base in the European market.”

NFIA Commissioner Nijland:

“The Netherlands is an attractive country for Brexit-impacted companies. But we are not the only country that these Brexit companies are looking at. We are competing with countries such as France, Ireland, Germany and Belgium.

Our experience shows that when a Brexit deal gets further out of sight, and the chance of a no deal increases, more companies contact us. Brexit remains bad news for the Netherlands, but with Brexit more companies are going to choose our country in the coming years.”