Are you from United Kingdom and owns a .EU domain? Get ready to lose it

I usually visit my domain registrars website for the maintenance of my many domain names. As i visited the website today, a notification pops up on the top of indicating an announcement for those who are from United Kingdom and own a .EU domain name.

As you know that .EU domain can only be registered by those individuals or entities which have physical presence in European Union. Before BREXIT United Kingdom was the part of EU and thus it’s residents can legally register . EU domain name. But as you all know after BREXIT UK will cease to be the part of EU and hence it’s residents will not be eligible for owning a .EU domain name.

As per the announcement from the EU domain registry the current domain names owned by individual or entities from UK will continue to work and will remain registered till the next expiry date and will be deleted after the expiry date is crossed until and unless they update the address of domain registrant to the one which is the part of Europe.

It seems to be a very dangerous prospect for those who own some premium .EU domain names as investment and are individuals who can’t afford to establish an entity in EU region. Their only choice will be to see their domain getting lost unless they are able to find some loophole in the ruling.