Do you know everything about the Brexit transition agreement?

Acuerdo transición Brexit

Why do we get so nervous when someone talks about Brexit? It might be because there are mixed opinions and everyone shares a different point of view. But, don’t worry, we will now tell you about the latest information on this transition period between the EU and the United Kingdom.

The UK will have to pay an exit fee. They will have to accept almost all the demands of the EU about European civil rights and, if they proceed to have hard borders, Northern Ireland will have to be recognized with a special status. In return, their transition period will start in March 2019 and will finish in December 2020. The 27 member countries will be able to decide the conditions and the UK will have no right to vote. However, they could choose not to join certain politics approved during these 18 months if they do not agree with them.

The latest clauses of the agreement include the following:

  • The transition period has been established so as to allow business and residents to adapt to this new situation. This period will last for 21 months, until the 31st December 2020, following the EU petition.
  • During this transition period, the EU has allowed the UK to take parts in trade agreements with countries that are not members of the EU. However, the United Kingdom will only be able to implement them after 1st January 2021 —once the transition period is over.
  • The United Kingdom has changed its position towards fishing. Thus, the EU will consider the opinion of the UK on allocations in 2020 and their fishing agreement will not be modified.
  • The negotiations about the Irish border are still on hold, although progress has been made. The United Kingdom has agreed to include Northern Ireland in the Customs Union as a last resource while they consider different options. These changes have been included in the Separation Treaty.

If you have more questions about the Brexit situation, don’t hesitate to consult a Gestor Administrativo. Find the closest one to you here.