It is likely that the measures taken will be aimed at the majority of stakeholders, while the few that remain to be covered will have to be dealt with on a case-by-case basis. There is no guidance yet about how shareholders will be informed about the changes. What is Happening Now?Ī UK steering group for dematerialisation has been set up and they are going to contact those who hold paper shares. Whilst paper share certificates will no longer be valid, your holdings will be unchanged – they will just be held electronically instead. However, a great number of retail investors prefer to hold their shares in paper form, and they will be most affected by the forthcoming changes. The existence of two types of shares can cause confusion and inefficiency, hence the desire to move to one type of share. As a result of CREST, both electronic (“uncertificated”) and paper shares exist for listed UK companies. The process of dematerialisation in the UK began 23 years ago when the CREST system was established by the Bank of England. This will apply across the EU as well as in the UK, so your share holdings in the likes of Santander will be dematerialised by 2025 too.Īnd remember that investment trusts are listed companies, so the likes of F&C, Witan etc. No new share certificates for listed companies will be issued from January 2023. It’s less exciting than being beamed up by Scotty, but it’s important for a lot of Earthlings.įrom 2025, many of your paper share certificates will become meaningless, as share holdings in listed companies will only be recorded in electronic format from then on. If your employee works on board a Rhine boat, they will be insured in the country where the country operating the vessel is based.“Dematerialisation” sounds, to me, like something that could happen only in Star Trek, but it will be coming to the UK in 2025. If their home base is in the Netherlands, they will be covered by the Dutch social insurance schemes. If your employee is a member of a cockpit or cabin crew in civil aviation, they will be insured in the country where their home base is. If your employee works as a member of a cockpit or cabin crew in civil aviation You should register as an employer in the country where your employee lives so that they can get a benefit or pension if they become unemployed or incapacitated for work or they retire from work. If your employee works for at least 25% in the country where he or she lives.Įmployees who do not live in the Netherlands and who work 25% or more of their time in the EU or EEA country where they live will be insured in that country. Remember to send the written decision of the non-Dutch social insurance institution with your application. If so, you can apply to us within 2 months for an A1/certificate of coverage using a paper form. If your employee lives outside the Netherlands and works in 2 or more EU Member States (including the Netherlands), for example as a coach driver, lorry driver or on an inland ship, you can ask the social security organisation in the country where your employee lives to decide whether your employee is covered by the social insurance schemes of the Netherlands. There are a few exceptional cases: If your employee lives outside the Netherlands Without an A1/certificate of coverage, your employee may not be permitted to work in the other country You can prove this with an A1/certificate of coverage. In many countries, the Labour Inspectorate will check whether your employee is covered by social insurance. You must deduct social insurance contributions from your employees’ wages and pay them to the Dutch Tax and Customs Administration ( Belastingdienst). they live in another EU country and work less than 25% of their working hours in that country.If you have a company that transports persons or goods to countries of the EU (European Union) or the EEA (European Economic Area), employees that work outside the Netherlands will normally remain insured under the Dutch social insurance schemes if:
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