• A no-deal Brexit is becoming less and less likely, but Britain’s departure from the EU appears to be taking the first decisive step.
• Companies react to uncertainty by moving their business to other cities in the European Union.
• According to a study by New Financial, more than 330 companies have relocated their business to other cities and the number is expected to increase.
• Find more stories on Spanish Business Insider.

That possibility UK leaves EU in no-deal Brexit they no longer seem as real as before. However, British Prime Minister Boris Johnson has secured support for his parliament to approve the deal he reached with Brussels last week.

While everything suggests that the date will be postponed again, the reality is that Britain’s departure appears to be taking the definitive first step and companies are taking steps in the face of the uncertainty that Brexit poses for businesses.

Based on New Finance study, 332 banking, markets and asset management companies have shifted some of their business from the UK to cities in the European Union.

Read more: Boris Johnson wants to hold general election on December 12 to “get Brexit done”

Dublin is the favorite destination, with 115 transfers, followed by Luxembourg, Paris, Frankfurt and Amsterdam and Madrid. The aim of the company is to limit the impact that Brexit may have in terms of limiting commercial relations with EU clients.

The report confirms that contingency plans by banks, stock exchanges and asset managers, together with recent agreements between UK and EU regulators, This means that the sector is quite ready to face Brexit.

Read more: Official figures from Boris Johnson’s government reveal his Brexit deal will make Britons much poorer

However, New Finance warned that the number of transfers could grow exponentially when Britain’s status as a former member of the European Union is consolidated and the interim agreement between the country and the EU expires.

Total, The relocation has involved the transfer of approximately 5,000 employees and £800,000 million (nearly one billion euros) in assets.