passporting
- 1The provision of commercial services in another EEA country without needing separate authorization to operate there.
Like a passport itself: one document that grants entry to many countries without a fresh visa for each.
The firm relied on passporting to market its investment products in France and Germany without a local license.
Losing passporting rights forced the asset manager to relocate part of its operations to Dublin.
Note
The metaphor is built into the word: passport plus -ing. A firm's home-state license travels with it the way a passport travels with a person, so the host state accepts authorization granted elsewhere instead of requiring a fresh application. It belongs to the vocabulary of regulated services, and it names the practice of crossing borders on that license rather than any document.
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Origin
Formed from "passport" combined with the suffix "-ing".