The maritime industry is one of the global sectors that will be affected most by Brexit and the subsequent regulations that come along with it. The main reason for this is the lack of free movement between the EU and the UK. Overseas contractors will still need to travel to and from the UK and the EU to meet with clients and vendors and this will become increasingly difficult with the new post-Brexit immigration rules in place. This will also affect seafarers and many maritime companies will need to prepare for the additional regulations and paperwork that have the ability to slow down, even halt operations.
The Implications Of Brexit
With the recent outcome of Brexit negotiations, UK contractors have found it even more complicated to work, live, and receive payments abroad. New regulations around visas and work permits are creating problems for maritime businesses that were not prepared.
With that being said, let’s take a look at how your maritime company can prepare for both the positive and negative implications of Brexit
With the recent outcome of the Brexit negotiations, there are some things that companies can do to prepare. These include:
- Knowing which of their employees will be affected and by how much.
- Keep those employees affected by Brexit in the know and communicate the latest information with them.
- Decide where your company stands and create a post-Brexit plan.
- Know and understand the risks of your post-Brexit stance.
EU Health Care
Another significant impact of Brexit on workers in the maritime industry is the fact that EU Health Care is going to fall away. This leaves many seafarers without proper healthcare and it can lead to a reduction in the maritime workforce. With fewer workers, maritime operations could suffer, leaving consumers paying more for overseas goods.
The UK government has promised to address any negative impact of Brexit on seafarers and maritime industry businesses, but the question on many people’s minds is, “When?”.
To better understand the implications of Brexit on the maritime industry, contact an overseas payroll specialist who will have the answers to your questions.
Contact Binks Overseas
To learn more about overseas contracting, contact Binks Overseas today and speak with a payroll specialist who can answer any questions you might have about your company’s payroll needs.
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