Residents of th UK, The EU is coming to confiscate you .eu domains

United Kingdom Site Owners prepare for Brexit and handing over their .EU Domains

UK Site owners are going to be in for a surprise when The UK officially breaks from the European Union next year. The EU commission announced that companies based in the UK will have to surrender their .eu domains after Brexit.

Their statement says

As of the withdrawal date, undertakings and organisations that are established in the United Kingdom but not in the EU, and natural persons who reside in the United Kingdom will no longer be eligible to register .eu domain names or, if they are .eu registrants, to renew .eu domain names registered before the withdrawal date.

The worst part about it is those companies will not be able to redirect their former domains to a new domain such as .co.uk . There are about 300,000 Uk businesses with a .eu domain. These consequences could be dire if those businesses don't act now and 301 redirect all their link juice to a new domain.
Once Brexit takes effect the Registry for .eu will be able to revoke the domain because people or businesses in the UK will no longer meet the general eligibility requirements to hold a .eu domain. 

The following is the criteria for registering a .eu domain
In accordance with Article 4(2)(b) of Regulation (EC) No 733/2002, the following persons are eligible to register .eu domain names: (i) undertakings having their registered office, central administration or principal place of business within the EU; (ii) organisations established within the EU (without prejudice to the application of national law); and (iii) natural persons resident within the EU.

People should be concerned and take appropriate actions now to migrate your website to a new domain and 301 redirect the old domain asap. Also if you can change any of your links to the new domain it would be highly beneficial to your websites keeping its link juice after Brexit.

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