PREPARATION ON BREXIT IN THE CZECH REPUBLIC

The “(Br)exit” of United Kingdom of Great Britain and Northern Ireland (hereinafter referred as the “UK”) from the European Union is a process intently watched by all European countries. No wonder some of the member states of the EU have already started to prepare their own legislation to deal with possible “No-deal Brexit”.

As of April 14, 2019, a new Act on the Regulation of Certain Relations in Connection with the Withdrawal of the UK from the European Union has been declared in the Czech Collection of Laws (hereinafter referred as the “Lex Brexit”).

The aim of this new legislation is to deal with the UK leaving the EU without agreement and minimalize the negative consequences of the potential “No-deal Brexit” in some areas (e.g. residence; labour market; provision of legal and financial services and tax consulting; recognition of the qualification; acquisition of Czech citizenship; income tax; payment transaction etc.).

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