There has been talk that the HSBC bank could be about to leave London and relocate in Asia. But what might happen if they did?
The reason for the relocation is said to be down to the UK leaving the EU and the possibility of new reforms that it would bring with it.
There are many that don’t believe that this would ever happen. For one thing banks, along with other companies, including HSBC, love the UK. There are many reasons for this, including the legal system, which is sound and has been based on many hundreds of years of cases. This is something that cannot be found in the rest of the world, Asia included.
The UK has a global jurisdictions constitute that has the biggest tax avoidance operation so of course this is another good reason why HSBC would not want to leave the UK and head to Asia.
Another good reason is that London has been around for so long that people cannot remember when it wasn’t around, it stands time immemorial and offers stability that cannot be found elsewhere in the world. London has plenty of tradition when it comes to the law.
Also bear in mind that the GBP is a reserve currency and it happens to the 4th most traded currency in the world.
So when you take all these factors into consideration it isn’t likely that HSBC would leave the UK for Asia, even if the UK left the EU.
