Brexit News: Almost 100 UK Companies Relocated To The Netherlands Ahead Of Brexit

A Dutch government agency has claimed that almost 100 U.K.-based companies have relocated to the Netherlands ahead of Brexit. Another 325 companies have made inquiries about setting up operations in the country.

"The ongoing growing uncertainty in the United Kingdom, and the increasingly clearer possibility of a no deal is causing major economic unrest for these companies," said Jeroen Njiland, commissioner for the Netherlands Foreign Investment Agency (NFIA). "This is why more and more companies are orienting themselves in the Netherlands as a potential new base in the European market."

Companies that have announced to move to the Netherlands from the U.K. include Japanese tech giant Sony and Bloomberg.

British Prime Minister Boris Johnson has pledged to take the U.K. out the EU by Oct. 31, with or without a deal. Companies in the U.K. are now looking for new alternatives in mainland Europe that can give them access to the EU single market.

Some of the top EU cities that companies are looking to move to include Paris, Frankfurt and Dublin.

Bank of America and HSBC have chosen Paris for new EU operations. The Parisian metropolitan area has a thriving business district called La Defense.

Several Japanese financial services firms, such as Sumitomo Mitsui Financial Group and Daiwa securities have chosen to leave London for Frankfurt, with the city being home to the Frankfurt Stock Exchange and the European Central Bank (ECB). Britain's Standard Chartered is also going to move some of its operations to the metropolis on the Main.

Dublin is a very popular choice, due to its strong financial sector. Barclays and Bank of America have chosen the city as their new EU hub.

The U.K. voted in June 2016 to leave the EU. There have been concerns that a no-deal Brexit may push the U.K. into a recession.