UK-EU Trading in Services
SERVICES AND INVESTMENT IN THE TRADE AND COOPERATION AGREEMENT
The UK no longer benefits from the free movement of persons, free provision of services and freedom of establishment. UK service providers:
- No longer have the automatic right to offer their services in the EU.
- Must establish themselves in the EU to continue operating.
- No longer benefit from the ‘country-of-origin’ approach, mutual recognition or ‘passporting’.
- Must comply with individual rules of each host EU Member state.
The level of market access is determined based on how the service is provided:
- Mode 1: The service is provided from the supplier’s home country (e.g via Internet) on a cross-border basis.
- Mode 2: Supplied to the consumer in the country of the supplier, for example a tourist travelling abroad and purchasing services
- Mode 3: Supplied via a locally-established enterprise owned by the foreign service supplier
- Mode 4: Through the temporary presence in the territory of another country by a service supplier who is a natural person.
The following sectors are included in the Trade and Cooperation Agreement:
- Professional and Business services (such as legal, auditing, architectural services),
- Delivery and telecommunication services,
- Computer-related and digital services,
- Financial services,
- Research & Development services,
- Transport services
- Environmental services.
The agreement is also applicable to investments made in sectors including:
- Manufacturing, agriculture, forestry, fisheries, energy and other primary industries.
(Source: European Commission EU-UK TCA)
"MOST-FAVOURED NATION" CLAUSE
“A ‘Most-Favoured Nation’ clause would enable both the EU and the UK to claim any more favourable treatment granted by the UK or the EU in their future agreements on trade in services and investment with other third countries” (Source: European Commission EU-UK Trade and Cooperation Agreement)
This does not apply to financial services.
Company Law and Civil Law
Data Protection and IPR
Financial Services and Insurance