Thursday, March 23, 2017

Article 50 date 29 March 2017 and UK Brexit within 2 years

Earlier this week Prime Minister Theresa May announced that the Article 50 process to take Britain out of the European Union will be formally triggered on 29 March 2017.

UK Prime Minister Theresa May

The historic decision will start a two year period of intense negotiations with the UK’s EU partners over tariffs, membership of the single market and customs union, free movement of labour and immigration rights for the millions of European and British migrants who live in various parts of Europe.

In a statement, Brexit Secretary David Davis said: “We are on the threshold of the most important negotiation for this country for a generation.

“The Government is clear in its aims: a deal that works for every nation and region of the UK and indeed for all of Europe – a new, positive partnership between the UK and our friends and allies in the European Union.”

The fate of three million EU migrants living in the UK is still in the balance, as thousands apply for indefinite leave and British Citizenship. Since millions of British citizens live in EU countries and the UK still needs skilled foreign labour, there will be no mass deportations.

Despite the divorce, custody arrangements will have to be made. After all, like a divorced couple with children, the affairs of Britain and EU member states will be inexorably intertwined for many years to come.  

UK net migration fell by 49,000 to 273,000 in the year to September 2016 according to Office for National Statistics (ONS).

Immigration to the UK is estimated to be 596,000 – made up of 268,000 EU citizens, 257,000 non-EU citizens and 71,000 British citizens.

Whilst EU immigration from several countries went down, record numbers of Romanians and Bulgarians - 74,000 – came to live in the UK.

In the meantime, current UK Immigration Rules and EEA regulations still apply.

The historic week ends on a sad note following tragic events which took place in Westminster on Wednesday. Our condolences go out to the families of the people who lost their lives or suffered serious injuries, including a Police Officer and an American and Romanian tourist.

See also:

Minimum £18,600 income for foreign spouses lawful "in principle", Supreme Court rules

The UK is an attractive place to work, start a business or buy property, with no restrictions on foreign buyers and a vibrant mortgage market with record low interest rates. Last week, a leading mortgage lender announced that it was introducing a fixed rate mortgage with an interest rate of .99%.

If you would like to learn more about investing in UK property, I have a limited number of complimentary tickets to a LIVE EVENT  - Beginners Property Course (held in the UK), which will give you the basic knowledge and techniques to get started as a property investor. If you are interest, email me your full name and telephone number to

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