Dear Clients,

As you may already be aware, the result of the referendum for the United Kingdom to leave the European Union was announced on Friday 24th of June. The “Out” won by 52% to 48%.

David Cameron has resigned as Britain votes to leave the European Union and a new leader should be in place by October.

The UK has two years to organise its exit from the European Union and will have to invoke an agreement called Article 50 of the Lisbon Treaty.

We understand you may have some questions about the impact of this situation on your business and we would like to reassure you that the United Kingdom is and will remain a dynamic market in terms of trade flows. The United Kingdom will arrange within the next few years new treaties with each country to carry on successful business partnerships with the rest of the world.

This week we have met with LONDON & PARTNERS, a not-for-profit public-private partnership funded by the Mayor of London and a network of commercial partners with the mission to attract investment and visitors to create jobs and growth & build London's international reputation and UK Trade & Investment which is a UK Government department working with businesses based in the United Kingdom to assist their success in international markets, and with overseas investors looking to the UK as an investment destination. Discussions are still in progress to organise a smooth exit for the UK.

At SEDI, we set up as many European companies as non European companies in the UK market for many years now. To date, we do not have any difference in terms of daily treatment for staff employment or accounting treatment for example. Despite the BRexit we remain confident.

We also would like to share with you the email sent from Gordon Innes, CEO of London & Partners below.

Should you have any questions please feel free to contact us.

With our best regards,

Founder - Managing Director

Head of Corporate Communication

“From: CEO
Sent: 24 June 2016 11:57
To: Subject: London is Open

As you will have heard from the announcement this morning by the Electoral Commission, the United Kingdom voted in favour of leaving the European Union. The Mayor of London, Sadiq Khan, made a statement earlier this morning which I commend to you and can be viewed here.

I understand that you may be considering how this decision could impact your business and, as the Chief Executive of the Capital’s promotional and economic development company, I wanted to reach out to you and to remind you that my team is here to support you.

The first thing to say is that this vote does not change London's fundamental position as the world’s pre-eminent business city and as one of the most desirable cities in the world in which to live, work and build a global business.

London is the leading centre in Europe for technology and life sciences. We have more universities ranked in the world's top 100 than any other city and attract thousands of international students from all over the world. London is a world-class centre of creativity and innovation and a cultural powerhouse, with 215 museums, 857 art galleries and 245 live music venues.

In short, this vote does not alter London's position as one of the world’s truly global cities, a city which is open, welcoming and cosmopolitan.

So what happens next?

The process and timeline for leaving the European Union, and the terms on which this will be achieved, will now be negotiated. This is a matter for UK Government and Parliament and it will take a number of years.

It is in the interests of the EU member states and institutions for the exit process to be smooth and equitable, and there is no evidence to suggest that this will not be the case.

It is also worth reminding ourselves that the vote was driven by UK citizens’ desire to leave a political union. All of the main UK parties are in favour of a deep, trading relationship with the EU as indeed the Mayor makes clear in his statement.

So, for now and until the facts are clearer, I would counsel against acting in haste and, instead, keep a watching brief on developments. There will be ample time to develop and effect business plans based on proper analysis of the facts as they become clear.

At London & Partners we put our clients first and we pride ourselves on helping you to make better informed decisions more quickly by providing confidential, expert advice based around your best interests. I would, therefore, encourage you to stay in contact with my team as you consider the implications of this decision. As always, we are keen to hear from you and understand your perspective. Next week I will send to you a short survey and would appreciate any feedback that you are able to offer.

I am confident that London will remain a world class centre for international business during, and after, the UK’s exit from the EU. I am also committed to continuing to support your growth in our great city.

Yours sincerely,

Gordon Innes

Gordon Innes
Chief Executive
London & Partners
6th Floor
2 More London Riverside
London SE1 2RR”

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