Since 1 January 2021, following the end of the Brexit transition period, UK branches of European Economic Area (EEA) companies are subject to the same disclosure requirements as non-EEA overseas entities.
This applies not only to new registrations but also to the existing UK branches which are now required to report additional information, previously obtained from their parent EEA registries.
The following additional details are to be reported to the UK Registrar of Companies by 31 March 2021:
- The law under which the parent company is incorporated
- The address of its registered office or principal place of business
- The company’s purpose (its ‘objects’)
- The amount of share capital issued
- For parent companies required to prepare, audit and disclose accounts under their parent law, the accounting period end and the period allowed for disclosure.
In addition to disclosing the place of registration and the registration number of the UK branch, certain parent company’s information must also be published on their UK customer-facing materials (letterheads, websites, order forms, receipts, and all other forms of business correspondence and documentation) including:
- Country of incorporation, place of registration and registration number
- Location of the head office
- Legal form of the company
- Its limited liability status
- If a reference is usually made to the amount of share capital, it must be shown as paid up share capital
- Where applicable, notice that the parent company is being wound up or is subject to insolvency or any other analogous proceedings.
This is a good opportunity to review the rest of the information that is currently registered in the UK for your EEA company and to report any changes in the details of the parent company’s directors, authorised representative and the person authorised to accept the service of documents in the UK.
Would you like to know more?
If you would like to learn more about how Brexit may impact you, please visit our Practical Guidance: Brexit hub here.
And if you have any questions or would like to discuss your specific circumstances, please get in touch with your usual Blick Rothenberg contact or Vesna or Alex using the details on this page.