The authoritative source for independent research on UK-EU relations


This fact was correct when it was updated on 21 Sep 2020

What is ‘Passporting’?

Passporting is a term used in the context of financial services. For members of the EU single market it means that if a firm is authorised to undertake certain activities by the regulator of one EU member state, it can apply for a ‘passport’ to do business throughout the EU without needing further authorisation. UK-based firms lose this automatic right with Brexit. The UK is now seeking an equivalence decision from the EU to allow UK-based financial services firms to continue to serve EU customers from the UK.

More facts you may be interested in

Is there a right to strike in the UK?

31 Aug 2022

What is the energy price cap?

16 Aug 2022

What is a windfall tax?

27 May 2022