Due to the absence of harmonized rules, cross-border migrations have a long history of jurisprudence within the EU. Directive 2019/2121 aims at creating a common legal framework for EU cross-border conversions and divisions.
The new legal framework, to be implemented into national laws by 31 January 2023, will increase legal certainty within the EU and benefit employees, shareholders and creditors. However, for the companies and intragroup re-structurings, the new regime could be more burdensome than the current legal solutions. Migrations with a non-EU country will continue to be challenging. As a consequence of Brexit, the UK will likely fall out of the scope of the European jurisprudence after 31 December 2020.