Brexit Causes Some to Look to Dublin

Agents who are working in Dublin have noticed a jump in inquiries since the UK voted to leave the EU. Law firms, insurers and asset managers appear to be quietly checking out their options in order to establish a greater presence for themselves inside countries that aren’t leaving the bloc. As Saker Nusseibeh, Hermes’ chief executive, said: “If the Europeans end up being very difficult about passporting, which they might be, that would mean we would have to move some operations onshore. Our stuff is registered in Dublin any­way. If need be, we would transfer sales offices in Europe to something more management-like. We’re not going to do this unless we have to.”

Some, of course, are worried about how these changes will impact England’s financial situation. As Declan O’Reilly, director at Knight Frank in Dublin, said: “We’ve certainly seen an uptick in the number of inquiries from UK-based companies who are looking at Dublin as a post-Brexit option, mainly from the financial and legal sectors.”

He pointed out that these inquires are certainly being fueled by the Brexit vote since such companies weren’t making inquiries 12 months ago.

 

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