The UK`s bilateral financial services agreement with Switzerland aims to strengthen cooperation and confidence by facilitating british companies` access to the Swiss market and vice versa. The agreement is expected to enter into force on 1 January 2021 (or as soon as possible). Decision on the Direct Insurance Agreement An agreement is expected after a period of negotiation. This will be completed by the end of the Brexit transition period (31 December 2020). Mr Barnier was speaking as Britain heading for a general election on 12 December, which Prime Minister Boris Johnson hopes will reveal the situation of Brexit after his torn parliament refused to ratify its divorce deal with the EU quickly. If it were to enter into force, the transitional agreement would be time-limited and, in principle, applicable until December 31, 2020, the government said in a statement on Thursday. International cooperation between the UK and Switzerland will intensify in order to design and implement international standards and to highlight the use of technology in financial services. Today`s announcement is extremely important and important, both in terms of the breadth and depth of access to services. The freedom for UK service providers to work 90 days without a visa and without authorisation in Switzerland, with a simple notification procedure, is essential – not only for the service providers themselves, but also for the companies we support. The agreement does not apply to trade in services. Indeed, there is no recent agreement between the EU and Switzerland that is specifically aimed at trade in services. However, we have taken steps to ensure continued trade in services between the UK and Switzerland from 1 January 2021. This is an excellent result for the UK technology sector, which deals with and collaborates with many of Switzerland`s most innovative companies in important growth sectors such as financial services and pharma.
This agreement – with another service company – is an important part of this vision. It provides significant continuity for businesses and paves the way for a more advanced agreement with Switzerland in the future. Professionals will be able to travel freely between the two countries without the need for a work visa. The tariff quotas in the agreement have been specially adapted in the United Kingdom. The United Kingdom and Switzerland have secured a large-scale service agreement, which maintains access for UK service providers to the high-quality Swiss market. Updated certificates of origin will be available as soon as your regular supplier`s agreement comes into effect, for example. B chambers of commerce. The certificates will be very similar to those currently used. They will show the UK as a place of origin and not as the EU. On that date, a commitment was signed, but no agreement has yet been reached.