On June 23, 2016, the Unit­ed King­dom (UK) vot­ed for the UK to leave the EU, which is com­mon­ly referred to as Brex­it. Since then, there has been no clear direc­tion with regards to the out­come and the sit­u­a­tion appears to be high­ly volatile.

In the case of a No-Deal sce­nario mean­ing that there will be a non-reg­u­lat­ed leave of the UK, the UK will become a third coun­try – this has sev­er­al impli­ca­tions that should be considered:

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