Business Wire

The Brexit Breakup: CurrencyFair Survey Reveals 34% of British Expats Are Currently Seeking Citizenship or Permanent Residency in Another Country Due to Brexit


More than a third of British expats (34 percent) are already actively seeking a formal farewell to their home country due Brexit, and a further 5 percent will seek citizenship for themselves and/or their family in case of a hard Brexit, according to a survey commissioned by international money transfer service CurrencyFair.

The survey, concluding in May, compared British expats’ preferred Brexit outcomes and plans for Brexit with the views of British citizens residing at home. Expats living in EU countries that are expected to be most significantly impacted by Brexit were surveyed, including Germany, France, the Netherlands and Ireland.

Voting with their passports

Over half of the British citizens living outside of the UK surveyed are worried about their citizenship rights as an expat (53 percent), and half (50 percent) are concerned about their citizenship rights in commonwealth countries due to Brexit, which may be a trigger for the rush to seek a citizenship berth outside of their birth country.

"Expats tend to be at the leading edge of the intersection between personal finance and current events, and their behaviour is a barometer for bigger trends and changes,” said Paul Byrne, CEO of CurrencyFair. “Our research indicates that Brexit may be forcing the hand of expats to seek citizenship they might not otherwise seek, as they search for viable options in the event of a hard Brexit and any negative economic consequences.”

Bracing for a recession

In addition to alternative citizenship, a quarter of British expats surveyed say they plan to brace for a recession in the event of a hard Brexit, and plan to liquidate UK assets (17 percent) or transfer money abroad (13 percent) if the UK crashes out of the EU without a deal. A third of expats noted that when choosing a provider to transfer money to and from the UK, transparency about fees charged ranks first as the most important aspect, tied with security and trust in service provider.

“People are hearing our message that paying marked up exchange rates and hidden fees for currency exchange isn’t sustainable for expats from a personal finance perspective,” Byrne said

Overall, expats are more worried than UK residents about the uncertainty surrounding the UK’s departure from the EU, from the amount of debt they currently have (42 percent for expats versus 20 percent for UK residents), to the impact of Brexit on their retirement (52 percent expats versus 34 percent in the UK), and their ability to buy the things they want (52 percent expats versus 41 percent in the UK).

This worry is translating into immediate action for many expats who revealed they are already focusing on paying off any unsecured debt (16 percent versus 12 percent in the UK), moving investments to lower risk funds (14 percent versus five percent in the UK), and changing retirement plans (14 percent versus two percent in the UK).

The survey revealed that UK citizens residing at home have a certain confidence when it comes to their own finances. While 54 percent are concerned that the UK economic situation will worsen over the next 12 months, the same percentage believe their individual economic situation will either stay the same or improve. Additionally, the majority of UK residents (54 percent) indicate they plan to do nothing if there is a no-deal Brexit beyond bracing for a recession (42 percent).

“The survey suggests that expats and UK citizens residing at home have contrasting views when it comes to how they anticipate Brexit will affect their lives. It’s clear that when it comes to Brexit, where one stands on the issues depends on where one sits in the world,” said Byrne.

The Irish question

In the Brexit blame game, the Irish government gets off scot-free. Only four percent of British expats surveyed hold the Irish government responsible, despite assertions in some media quarters that the Irish government has ‘overplayed its hand’ on Brexit. A full twenty-seven percent of British expats in Ireland, however, blame the mainstream media or ‘fake news’ for the state of Brexit negotiations. Interestingly, British expats living in Ireland are significantly more likely than others to blame the British public for the current state of affairs. Twenty-seven percent say the British public is at fault, compared to just 16 percent of expats in other countries that blame their fellow countrymen.

Leadership vacuum

The likes of British prime ministers Theresa May and David Cameron, however, take the lion’s share of blame for the current state of Brexit negotiations. Both UK citizens residing at home and expats struggled to suggest an appropriate alternative, with only one in 10 expats choosing Michael Gove, and one in 10 UK citizens residing at home choosing Boris Johnson. When asked which notable person - living or dead - would have Brexit sorted by now if they were in charge, 32 percent of UK nationals said former prime minister Margaret Thatcher and 24 percent said they felt former prime minister Winston Churchill would get the job done. Expats living in France and Germany felt leaders in their adoptive countries, president Emmanuel Macron and chancellor Angela Merkel, respectively, would do a better job handling Brexit. Kylie Minogue ranked second in both Germany and The Netherlands with 15 percent and 18 percent respectively choosing the singer. Twelve percent of expats surveyed in the Netherlands chose Meghan, Duchess of Sussex, formerly known as Meghan Markle.

All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 664 adults. Fieldwork was undertaken between 18th April - 2nd May 2019. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).


CurrencyFair is an international money transfer platform focused on providing the best available exchange rates and experience for customers who need to send money and make payments overseas. CurrencyFair’s 150,000 strong user-community have traded more than €8 billion and saved more than €205 million using the service. Our unique peer-to-peer model and secure, state-of-the-art technology, raises the industry standard in designing technology-led foreign currency services for web, IOS and Android use. The company has offices in Ireland, Singapore, Hong Kong and Australia, and announced plans to expand further across Asia in 2019 after acquiring Convoy Payments (Hong Kong) in December 2018.

Contact information

Killeen Kelly
+353 87 380 6879

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Three Finalists Selected Following GA-ASI’s Blue Magic Belgium Event15.6.2019 11:00:00 CESTPressemelding

Three finalists have been selected from GA-ASI’s Blue Magic Belgium event with the goal of supporting GA-ASI and the development of MQ-9B SkyGuardian Remotely Piloted Aircraft (RPA) for Belgium. The three Belgian companies selected are AIRobot, ALX Systems, and Hexagon. This press release features multimedia. View the full release here: "We were very impressed by the many talented companies and particularly by the innovative concepts presented by these three finalists," said Linden Blue, CEO, GA-ASI. (Photo: Business Wire) AIRobot, a company based at DronePort in Sint Truiden, Belgium, focuses on developing drone performance equipment for easy, precise and safe professional operations, while specializing in Artificial Intelligence (AI) for processing hyper-spectral imagery. ALX Systems is an Unmanned Aircraft System (UAS) solution provider based in Liège, Belgium and specializing in AI for processing Full Motion Video. Hexagon’s

World’s First E-Money License for Blockchains Issued to Monerium15.6.2019 08:35:00 CESTPressemelding

Monerium ehf. has received a license from the Financial Supervisory Authority of Iceland to issue e-money on blockchains through its subsidiary, Monerium EMI ehf. The full license is the world’s first e-money license for blockchains issued under EU e-money regulations. The license is passportable within the largest global economic zone, the European Economic Area, and to external jurisdictions subject to regulatory approval and destination country regulations. Designed as a digital alternative to cash, e-money is a proven framework for digital fiat currency already in use for pre-paid cards and mobile wallets. By issuing e-money on blockchains, Monerium removes the need for intermediaries and provides the ability to automate financial transactions in many sectors, including payments, trade finance, securities settlement, and ecommerce. At the same time, e-money on blockchains extends Satoshi Nakamoto’s vision of online peer-to-peer currency transactions to a regulated form of digital f

Mattel® Unveils Hot Wheels™ id, Groundbreaking New Play System Bringing Together Physical and Digital Play, Available Exclusively at, Select Apple Stores and on the App Store14.6.2019 13:00:00 CESTPressemelding

Mattel, Inc. (NASDAQ: MAT) today announced the launch of Hot Wheels id, the evolution of the beloved brand that generations of kids have played with to ignite their challenger spirit. Through innovative vehicle play, Hot Wheels id brings together physical and digital in a Mixed Play experience with uniquely identifiable vehicles, a smart Race Portal, Smart Track, and digital hub, so you can build your personalized fleet, measure your performance, and compete like never before. Hot Wheels id is available starting June 14th exclusively at, select Apple stores and on the App Store. This press release features multimedia. View the full release here: Hot Wheels Race Portal™ scans your Hot Wheels id vehicles into the app, tracks speed and counts laps via infrared sensors, and easily connects with your classic Hot Wheels track. (Photo: Business Wire) For the first time in history, kids can scan their Hot Wheels id cars digita

S BLOCK Co-host With World Blockchain Forum Singapore & World Blockchain Award Asia14.6.2019 12:45:00 CESTPressemelding

Asia's highly anticipated blockchain event World Blockchain Forum · Singapore & World Blockchain Award · Asia will be held on June 22-23, 2019 at the Marina Bay Sands in Singapore. The conference will bring together more than 4,000 global elites from government, associations, regulatory agencies, investment institutions, blockchain project parties, financial technology, and media to discuss industry trends and innovations, jointly recognizing industry pioneers and contributions to promote the industry and achieve healthy and rapid development! The World Blockchain Forum Singapore & World Blockchain Award Asia will be co-hosted by S BLOCK. As a fast-growing digital asset management platform, S BLOCK was developed for the blockchain industry. This rapidly growing platform aims to serve the digital financial ecosystem and aims to commercialize by the end of 2019. The slogan of S BLOCK is “unleash your digital asset.” The platform also provides investors access to mainstream cryptocurrenci

Janssen Reports Top-Line Phase 3 Results for TREMFYA® (guselkumab) in Adults with Active Psoriatic Arthritis14.6.2019 11:39:00 CESTPressemelding

The Janssen Pharmaceutical Companies of Johnson & Johnson today announced top-line results from the Phase 3 DISCOVER 1 and 2 studies, which evaluated the efficacy and safety of guselkumab compared to placebo in adult patients with active moderate to severe psoriatic arthritis (PsA). Both studies met their primary endpoints of American College of Rheumatology 20% improvement (ACR20), and the safety profiles observed for guselkumab in the DISCOVER programme were consistent with previous studies of guselkumab and current prescribing information.1 The DISCOVER programme comprises the first-ever Phase 3 studies evaluating an IL-23 p19 inhibitor for the treatment of psoriatic arthritis, and data will be presented at upcoming scientific medical meetings. Data from the two DISCOVER studies will serve as the basis of submissions to the U.S. Food and Drug Administration and European Medicines Agency seeking approval of guselkumab as a treatment for psoriatic arthritis, which are anticipated for

Velodyne Features Advanced Lidar for Port Terminal Automation at TOC Europe14.6.2019 10:00:00 CESTPressemelding

Velodyne Lidar, Inc. (Stand A50) will demonstrate how its smart, powerful lidar solutions can advance port terminal automation at TOC Europe in Rotterdam, 18-20 June. Velodyne will highlight customer applications that show how its lidar sensors can be used in crane steering, container handling, internal terminal vehicles (ITV), automated guided vehicles (AGV), forklifts, and terminal security/yard monitoring systems. This press release features multimedia. View the full release here: DGWorld solutions demonstrate how Velodyne’s intelligent lidar sensors are helping port and terminal operators deliver consistent service quality and achieve increased safety. (Photo: Business Wire) DGWorld (Stand B21A), a Dubai-based Velodyne integrator, will showcase autonomous taxis, ITVs, AGVs, and terminal operation vehicles that use Velodyne lidar sensors to run autonomously. These vehicles use advanced artificial intelligence (AI), automation