British Prime Minister Theresa May outlined her plans for Brexit last Tuesday. However, it is still unclear whether the UK firms can hold on to their passporting rights if the UK pulls out of the European single market. Without passporting rights, many fintech companies will be unable to deliver products and services across the European Economic Area. This could imply that UK-based fintech companies should start thinking about relocating their businesses to other EEA countries.
For this reason, the European Payments Association (EPA) has carried out an in-depth analysis of European markets to assess the most viable options for companies seeking to become authorized in the EEA. Denmark is considered as one of the stronger candidates among other things because of our high use of electronic payments, open approach to regulator, pragmatic and technologically neutral AML compliance environment and much more.