Fearing a no-deal Brexit, Sony is moving the UK headquarters of its electronics wing to the Netherlands.
According to the BBC, the move is designed to: “Avoid disruptions caused by Brexit.” It will take the form of a merger between its UK operation and its Dutch HQ near Amsterdam. In a statement, Sony said it would mean: “We can continue our business as usual without disruption once the UK leaves the EU. All our existing European business functions, facilities, departments, sites and location of our people will remain unchanged from today.”
Essentially, it would mean that Sony electronics’ UK business – based in Weybridge, Surrey — would remain a part of the EU, thereby conforming to the EU’s customs procedures even in the event of a no-deal Brexit. Sony is following in the footsteps of Panasonic, which already relocated its European HQ from the UK to Amsterdam, mainly due to fears about taxation in the event of a no-deal Brexit.
Sony said that no jobs in the UK would be affected, and that it has no plans to relocate its London European HQ for the PlayStation side of its business to the continent. Sony incorporated the Dutch company with which its Weybridge business will merge last May, and filed the documents to initiate the move in November 2018. For further news, keep an eye on the company’s website.