Freetrade in Europe 🇪🇺

Ireland most probably will look better than Germany simply die to language barriers.

Irish customs are also not as different to the UK compared to the rest of EU.

And double Irish with a Dutch sandwich are still around until 2020 after all :grinning: (that not being serious, of course)

I’d rather hope that Freetrade don’t take that path @Vlad.

Stripping out the ethical and moral perspectives that envelope tax avoidance discussions, it would seem a little disingenuous of a business that’s founded on democratising investment and doing things differently to then seek to avoid paying tax using controversial loopholes.

From a shareholder’s perspective, I’d also be concerned by the reputational risk such a move might have on the business, especially as the tide has changed wrt the use of aggressive corporate tax avoidance structures.

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Difficult to disagree with you @CTE, but as Adam says, an EU presence with its own passporting rights is becoming increasingly necessary as uncertainty re: Brexit continues. In selecting that country, tax should and will be one of the influencing factors and I don’t think that is aggressive.

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@freetrade_cal @adam, apologies guys. I think I may not have been as clear as I could have been.

I totally understand and agree with you on the need for an EU presence for the purpose of passporting, Brexit is, if you don’t mind me saying, a joke and a nightmare. I also fully expect and support optimal tax planning to factor into that decision.

However “the double Irish, Dutch sandwich” to which @Vlad referred to, though in jest, is what many, including the IMF would refer to as an aggressive tax avoidance structure. There is a big difference between exploiting loopholes to avoid paying tax, and benefiting from the super competitive Irish tax regime. Personally I think it would be a shame if Freetrade took the former route, for the reasons I pointed out above.

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Before I acquire more negative perceptions and unfavourable comments, let me make a declaration. I only meant double Irish as a joke. And whilst it may have sounded fairly unethical, it did not reflect my genuine intentions or expectations for Freetrade to follow that route. It was only to infuse some informal input into the formal conversation.

Hope you could now stop believing that I promote illegal tax avoidance schemes as with all honesty, I do not.

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It’s cool, Vlad! @CTE said as well you referred to it “in jest”. :ok_hand:

I think @Rob or @freetrade_cal will write a blog post once we have made the decision on where to set up a locally regulated EU subsidiary. That should describe the thinking behind the decision.

As @freetrade_cal said, tax is only one of the influencing factors. It’s not irrelevant, but there is a lot more that goes into it (e.g. which city has / can attract the talent for us to make Freetrade the best in the world?).

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@Viktor,

would EU residents be able to buy UK shares via Freetrade at some point before the EU subsidiary is set up?

I am afraid not at the moment.

@Vlad,

I knew that it won’t be possible at the moment. My question was whether it would happen before a subsidiary is set up in some EU country and German/French/etc. stocks are available, or would that happen all the same time. In other words, would I (as EU resident) be able to start buying UK stocks before Euro-denominated stocks are available on the platform.

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Very likely yes, as we could onboard any EU resident right now. We have the regulatory permission to do so.

Before we do onboard EU residents in any of the markets, we want to be satisfied that our systems, controls and processes (think e.g. customer ops) are robust enough to deliver an outstanding experience for them.

Great question! We’ll be on the continent as soon as possible. Keep you posted! :eu: :heart:

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Excellent! I’ve signed up for beta testing, would be glad to help with testing.

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Is France on the roadmap (for opening an account)? Any guidelines on the timeframe?
Apologies in advance if this is answered elsewhere.

France is one of the markets we’ll consider when we pick the first ones to expand to. We’ll add new markets next year. :eu:

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Hey ! Have you decided on where to set up the European subsidiary ? Any news on that front or maybe a rough timeline ?

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Also Germany, Ireland and the Netherlands

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Thanks for the answer ! But I was talking about the locally regulated EU subsidiary that @adam was mentionning to benefit from EU passporting rights in the (not that unlikely) scenario of a hard Brexit

Hey sorry to keep bugging you about this, but as a shareholder I feel it’s a crucial question and I’m a bit worried about the potential consequences on the European expansion
@Viktor @freetrade_cal

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Hey Esteban, as Adam mentioned, we’ve started to prepare for the possibility of a no-deal Brexit. We’ll give the community an update when we have something new to share! :+1:

I would like the app available for italy apple store please

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Hey @Sheila

Welcome to the forum :wave:

Our first markets outside of the UK in Europe will be Netherlands, France, Germany, and Ireland.

We’d loved to launch in Italy too, so stay tuned for updates on that!

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