UK-incorporated companies will be third-country companies as far as Europe is concerned and, therefore, will not be automatically recognised in Europe.

Companies that are incorporated in the UK, but have their central administration or their principal place of business in the EU27 will be particularly affected. Depending on the applicable national or international law rules, such companies might not have a legal standing in the EU. This means that shareholders might become personally liable for the debts of a company.

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