In terms of membership, the main difference between the EU and the EEA is that the latter consists of three more countries, which are: The EEA is a Single Market of member states, which have to implement all EU legislation in the field of the Single Market. EUROPEAN ECONOMIC AREA EFTA SURVEILL ANCE AUTHORIT Y DECISION No 271/14/COL of 9 July 2014 amending for the 97th time the procedural and subst antive r ules in the f ield of State aid by adopting new Guidelines for research and development and … bilateral sectoral agreements with the EU, Sovereign Base Areas of Akrotiri and Dhekelia, treaty of accession of the European Union to Cyprus, EU's relations with the sovereign European microstates, "Report for Selected Country Groups and Subjects", "Report for Selected Countries and Subjects", "The Basic Features of the EEA Agreement - European Free Trade Association", "AGREEMENT ON THE EUROPEAN ECONOMIC AREA", "Agreement on the European Economic Area", "Directive 2004/38/EC of the European Parliament and of the Council", "The Basic Features of the EEA Agreement | European Free Trade Association", "2182-BULLETIN-2009-07:1897-THIS-IS-EFTA-24", "Frequently asked questions on EFTA, the EEA, EFTA membership and Brexit", "EEA Rejection Likely to Hurt Swiss Markets", https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=OJ:L:1994:001:FULL&from=DE, Information relating to the provisional application of an Agreement on the participation of the Republic of Croatia in the European Economic Area, "How will the Brexit transition period work? An EEA Council meets twice yearly to govern the overall relationship between the EEA members. [15], By the time the EEA was established in 1994, however, several developments hampered its credibility. The European Economic Area, abbreviated as EEA, consists of the Member States of the European Union (EU) and three countries of the European Free Trade Association (EFTA) (Iceland, Liechtenstein and Norway; excluding Switzerland). Economic opportunities in Guernsey ... Guernsey is not a member of the European Union. The non-EU members of the EEA (Iceland, Liechtenstein and Norway) have agreed to enact legislation similar to that passed in the EU in the areas of social policy, consumer protection, environment, company law and statistics. [15], Meanwhile, Jacques Delors, who was President of the European Commission at the time, did not like the idea of the EEC enlarging with more member states, as he feared that it would impede the ability of the Community to complete internal market reform and establish monetary union. The non-EU members of the EEA are not represented in Institutions of the European Union such as the European Parliament or European Commission. The right to free movement of persons between EEA member states and the relevant provisions on safeguard measures are identical to those applying between members of the EU. Also, the 'free movement of persons is one of the core rights guaranteed in the European Economic Area (EEA) [...] [it] is perhaps the most important right for individuals, as it gives citizens of the 31 EEA countries the opportunity to live, work, establish business and study in any of these countries'. [16][17] On 6 December 1992, Switzerland's voters rejected the ratification of the agreement in a constitutionally mandated referendum,[18] effectively freezing the application for EC membership submitted earlier in the year. Here you can find the main text of the Agreement on the European Economic Area (EEA), as well as updated versions of all Annexes and Protocols. Before the implementation of AIFMD there were various routes by which Guernsey funds could be sold into the UK: The agreement of the European Economic Area provides its member states with: The main agreements signed between the states, that have made this zone, are as following: Nineteen states + EEC and ECSC originally signed it on May 2, 1992. [12] Third country goods are excluded for these states on rules of origin. WHILE Guernsey might be set to adopt part of the UK’s immigration act ending free movement for European workers, it does not mean the island will necessarily use a point-based system, Home Affairs president Rob Prow has said, following 11th hour negotiations with the UK. While the EEA is about free movement of goods, services, capital and people, the Schengen Area is about travelling without border controls with a unified visa regime for the whole area. [13][22][43] As of September 2020, the agreement has been ratified by 19 out of 32 parties. Bosnia and Herzegovina signed a Stabilisation and Association Agreement (SAA) with the EU and its member states, that went into effect in June 2015, which allowed the lodging of a membership application in February 2016,[46] while Kosovo, whose independence is unrecognised by five EU member states, finalised negotiations on a SAA that went into effect in April 2016.[47]. The agreement entered into force on December 6, 2005, following the enlargement of the European Union in 2004. The 28 states + EC signed an agreement on the participation of ten new states in the EEA on October 14, 2003. Guernsey and Jersey Key Brexit Points Guernsey and Jersey are not part of the EU or the European Economic Area (EEA), but they are currently part of the EU Customs Union in accordance with Protocol 3 to the Act of Accession to the European Economic Community of 1972. Guernsey funds with a Guernsey manager which are not actively marketed into the EU/EEA fall outside the scope of AIFMD. The Common Fisheries Policy would mean giving away fishing quotas in their waters. The EEA and Norway Grants are the financial contributions of Iceland, Liechtenstein and Norway to reduce social and economic disparities in Europe. Staying in the EEA, possibly eventually as an EFTA member, was one of the suggested options. The European Economic Area (EEA) was established via the Agreement on the European Economic Area, an international agreement which enables the extension of the European Union's single market to member states of the European Free Trade Association. [14] In January and February 2020, the government of the United Kingdom ruled out a future alignment to the rules of the internal market, effectively ruling out EEA membership after the end of the transition period. In the late 1980s, the EFTA member states, led by Sweden, began looking at options to join the then-existing European Economic Community (EEC), the precursor of the European Union (EU). Similarly, an aircraft can be registered in Guernsey by its legal or beneficial owner or, if applicable, a charterer by demise, which in each case must be a 'qualified person'. These members are: Three of the four EFTA members participate in the European Economic Area. Nationals of other countries or stateless individuals require permission to move to Guernsey. You are able to reside in Guernsey if the following applies to you: You are a British citizen You are a national of the European Economic Area (EEA) – that is EU nationals plus nationals of Iceland, Liechtenstein and Norway You are a Swiss national You have the Right of […] Furthermore, Guernsey is not a member state of either the European Union or European Economic Area, nor a signatory to the Brussels or Lugarno Conventions which each cover enforcement of judgments in civil and commercial matters. The States of Guernsey has published its own response to the ECOFIN confirmation on Guernsey's response to legal economic substance requirements in tax governance The Economic and Financial Affairs Council of the European Union (ECOFIN) has today reaffirmed its previous decision that Guernsey is a cooperative jurisdiction with respect to tax good governance. Alderney is the northernmost of the inhabited Channel Islands. It also has numerous bilateral regulatory co-operative agreements in place; and, through the European Securities and Markets Authority (ESMA), has in place MoUs covering the Alternative Investment Fund Managers Directive (AIFMD) with 27 members of the European Economic Area (EEA). [56], On 18 November 2013, the EU Commission concluded that "the participation of the small-sized countries in the EEA is not judged to be a viable option at present due to the political and institutional reasons", and that Association Agreements were a more feasible mechanism to integrate the microstates into the internal market.[58]. In order to prevent state subsidies from distor ting competition within the European Economic Area (‘EEA’) and affecting trade between the contracting par ties to the EEA Agreement (‘Contracting Par ties’) in a manner contrar y to the common interest, Ar ticle 61(1) of the EEA Agreement lays down the pr inciple that State aid is prohibited. During the transition, the EEA agreement will remain unchanged, and continue to apply as before, to both the remaining EEA members and the United Kingdom, as the UK will continue to be treated as if an EEA state. However, there is a formal relationship between the Channel Islands and the EU which is governed by Protocol 3 to the UK's Act of Accession to the European Economic Community in 1972 ("Protocol 3"). EFTA states that are party to the EEA Agreement participate in the EU's internal market without being members of the EU or the European Union Customs Union. The . It is 3 miles (5 km) long and 1 1 ⁄ 2 miles (2.4 km) wide. The EU shares its single market with three EFTA members via the European Economic Area agreement, and the remaining EFTA member—Switzerland—via bilateral agreements. [38] However, this was not achieved. The States of Guernsey is urging local businesses to review an updated 'essential guide' before the end of the UK Brexit transition period. The European Economic Area (EEA) was established via the Agreement on the European Economic Area, an international agreement which enables the extension of the European Union's single market to member states of the European Free Trade Association. Most EEA countries are part of the Schengen Area. [66][67][68], The EEA relies on the same "four freedoms" underpinning the European Single Market as does the European Union: the free movement of goods, persons, services, and capital among the EEA countries. The amendments to the Brexit Law do three main things: repeal the European Economic Area (Bailiwick of Guernsey) Law, 1996, make lasting provision for the remaining Parts of the EU Withdrawal Agreement and for the EEA EFTA separation agreement, and [44][45] Bosnia and Herzegovina and Kosovo are considered potential candidates for membership. [25] On the other hand, the EEA Agreement was applied on a provisional basis to the 10 acceding countries in May 2004 as from the date of their accession to the EU. You will also find other legal documents, such as all adopted Joint Committee Decisions and the EEA status of EU legal acts. They adopt most EU legislation concerning the single market, with notable exclusions including laws regarding the Common Agricultural Policy and Common Fisheries Policy. [19] Any European State becoming a member of the EU shall, or becoming a member of EFTA may, apply to become a Party to the EEA agreement according to article 128 of the agreement. EU Customs Union. Guernsey funds with a Guernsey manager which are not actively marketed into the EU/EEA fall outside the scope of AIFMD. Agriculture and fisheries are not covered by the EEA. Established in conjunction with the 2004 enlargement of the European Economic Area (EEA), which brings together the EU, Iceland, Liechtenstein and Norway in the Internal Market, the EEA and Norway Grants were administered by the Financial Mechanism Office, which is affiliated to the EFTA Secretariat in Brussels. Who can live in Guernsey? This Law may be cited as the European Economic Area (Bailiwick of Guernsey) Law, 1996. [50] However, the report went on to suggest that it is possible that the "Kingdom of Denmark in respect of the Faroes" could join the EFTA. The text was initialled on 20 December 2013, and following its signature in April 2014 the agreement is being provisionally applied pending ratification by Croatia, all EEA states, and the European Union. Other nationals who have permanent settlement (such as indefinite leave to enter or remain in the Bailiwick of Guernsey, United Kingdom, Bailiwick of Jersey or the Isle of Man) within the terms of the Immigration Act 1971. [49] The Faroes, which form part of the Danish Realm, is not a sovereign state, and according to a report prepared for the Faroes Ministry of Foreign Affairs "under its constitutional status the Faroes cannot become an independent Contracting Party to the EEA Agreement due to the fact that the Faroes are not a state". The Eurozone is an EU subgroup of European Union member states that use the same currency, the Euro. Guernsey has a retail fund sales Memorandum of Understanding with Switzerland, and is one of only three jurisdictions outside the European Union/European Economic Area to have one. The protocol entered into force on January 1, 1994, without the signature of Switzerland. Guernsey and Jersey have never been part of the EU or the European Economic Area (EEA), so the islands' fundamental position is not changed by the UK's departure from the union. … Guernsey and Jersey have never been part of the EU or the European Economic Area (EEA), so the islands' fundamental position is not changed by the UK's departure from the union. In the period from 2004 to 2009, €1.3 billion of project funding is made available for project funding in the 15 beneficiary states in Central and Southern Europe. In simple terms, the Island is treated as part of the European Union for the purposes of free trade in goods, but otherwise is not a part of the EU. In a time of political upheaval, our government is stable, accessible and accountable. [54][55][56][57] Pascal Schafhauser, the Counsellor of the Liechtenstein Mission to the EU, said that Liechtenstein, another EFTA member state, was willing to discuss EEA membership for the microstates provided their joining did not impede the functioning of the organisation. Membership has grown to 30 states as of 2020: 27 EU member states, as well as three of the four member states of the EFTA (Iceland, Liechtenstein and Norway). This agreement was set out in Protocol 3. ETIAS – European Travel Information and Authorization System, Differences between the EEA and the Schengen Area, 28 EU member states and the three other EFTA member states, Coronavirus: Travel Insurance May Not Offer Coverage for EU Travellers, EU Commission Explains Increased Fees and Other New Schengen Visa Application Rules, Crimea and Donbass Residents with Russian Passports Can No Longer Apply for Schengen Visas, Germany Remains Top Favorite for EU Blue Card Applicants, Over Six Million Schengen Visa Applications Lodged in 2018, 25% of Them for France, capital within the European Single Market, including the freedom to choose residence in any country within this area, common agriculture and fisheries policies (although the EEA Agreement contains provisions on trade in agricultural and fish products), justice and home affairs (although current EEA States are part of the Schengen area). The remaining options, EEA membership and a FAA with the states, were found to be viable and were recommended by the Commission. Non-British /European Economic Area nationals travelling to the Channel Islands from outside the UK or Republic of Ireland, should check whether they require a visa. However they also contribute to and influence the formation of new EEA relevant policies and legislation at an early stage as part of a formal decision-shaping process.[12]. Many authors cite the economic downturn at the beginning of the 1980s, and the subsequent adoption by the EEC of the "Europe 1992 agenda", as a primary reason. Scotland should aim for full EU membership if it becomes independent, the country’s Constitution Secretary has said. However, special terms were negotiated for Guernsey as a “third country” on the UK’s accession to the EEC, and this means that we are within the Common Customs Area and the Common External Tariff, and so have access to EU countries for physical exports without tariff barriers. [69], As a counterpart, these countries have to adopt part of the Law of the European Union. (212.247.11.156 (talk) 21:15, 24 … In mid-2005, representatives of the Faroe Islands hinted at the possibility of their territory joining the EFTA. In addition, EFTA itself does not have access to the Single Market due to the fact that it has no trade relationship with the EU. [14] One EFTA member, Switzerland, has not joined the EEA, but has a set of bilateral sectoral agreements with the EU which allow it to participate in the internal market. They have a combined population of approximately 165,000, and a combined GDP of approximately £6.2billion. By itself, the island of Guernsey has a total area of 65 km2. [4], There are five recognised candidates for EU membership that are not already EEA members: Albania (applied 2009, negotiating since March 2020), North Macedonia (applied 2004, negotiating since March 2020), Montenegro (applied 2008, negotiating since June 2012), Serbia (applied 2009, negotiating since January 2014) and Turkey (applied 1987, negotiating since October 2005). Only if the Joint Committee cannot provide a resolution within three months, would the disputing parties jointly submit to the ECJ for a ruling (if the dispute concerns provisions identical to EU law) or to arbitration (in all other cases).[74]. [7] The EEA links the EU member states and three EFTA states (Iceland, Liechtenstein, and Norway) into an internal market governed by the same basic rules. In addition, Belarus, Kazakhstan, Russia, Armenia, and Kyrgyzstan form the Eurasian Economic Union, including a customs union and a single market. The 30 states + EC signed an agreement on the participation of two new states in the EEA on July 25, 2007. It also used to include the United Kingdom and the … Jersey and the European Union. (once available) the third-country passporting regime. Norway also has its own Norway Grants scheme. Of the original agreement, or a subsequent agreement on participation of that particular state in the EEA. The EEA Treaty is a commercial treaty and differs from the EU Treaties in certain key respects. This announcement is provided for information purposes only. The area was established as a result of the Treaty of 1992, signed between the member states. Liechtenstein's participation in the EEA was delayed until 1 May 1995. Once approved at the EEA Joint Committee, it is part of the EEA Agreement, and the EFTA states within the EEA must implement it in their national law.[73]. Furthermore, Austria had applied for full EEC membership in 1989, and was followed by Finland, Norway, Sweden, and Switzerland between 1991 and 1992 (Norway's EU accession was rejected in a referendum, Switzerland froze its EU application after the EEA agreement was rejected in a referendum). Guernsey has the important "adequacy" rating from the European Commission and was one of the first jurisdictions outside the EU to develop a GDPR-equivalent legislative regime. However, he suggested that the option of direct membership in the EEA for the microstates, outside both the EFTA and the EU, should be given consideration. The EFTA Secretariat is headquartered in Geneva, Switzerland. Other authors point to the end of the Cold War, which made joining the EEC less politically controversial for neutral countries. The UK officially ceased to be a Member State of the European Union (“EU”) on 31st January 2020, and the UK and EU are now in the final weeks of the agreed transition period which ends on 31st December 2020 During this transition period the relationship between Guernsey and Jersey on the one hand, and the EU on the other, will not change. Jersey has a special relationship with the European Union (EU). Who can live in Guernsey? Guernsey is not part of the European Union or the European Economic Area. The United Kingdom Government at that time held out no prospect of the Bailiwick of Guernsey having a limited connection with the EEC, which it contended would require a modification of the Treaty of Rome which, in all inevitability, would not be granted. The EEA links the EU member states and three EFTA states (Iceland, Liechtenstein, and Norway) into an internal market governed by the same basic … Still, due to special agreements, it can still participate in internal markets. Mike Russell said he would not like a “halfway house” of European Economic Area (EEA) membership. The European Commission, Parliament and Council reached agreement on the texts for MiFID ii and MiFIR in early 2014 and the two documents were published in the EU Official Journal on 12 June 2014. The United Kingdom, in a 2016 referendum, voted to withdraw from the European Union. After having negotiated the Surveillance Authority, the ECJ confirmed its legality in Opinion 1/92. [53] Espen Barth Eide, Støre's successor, responded to the Commission's report in late 2012 by questioning whether the microstates have sufficient administrative capabilities to meet the obligations of EEA membership. The EFTA Surveillance Authority has its headquarters in Brussels, Belgium (the same location as the headquarters of the European Commission), while the EFTA Court has its headquarters in Luxembourg (the same location as the headquarters of the European Court of Justice). [59] The United Kingdom was a co-founder of EFTA in 1960, but ceased to be a member upon joining the European Community. [4][13] The United Kingdom transitionally continues to be an EEA member after it withdrew from the EU on 31 January 2020, and entered into a transition period ending 31 December 2020. Eighteen states + EEC and ECSC originally signed the adjusting protocol on March 17, 1993. Rather than setting up pan-EEA institutions, the activities of the EEA are regulated by the European Union institutions, as well as the EFTA Surveillance Authority and the EFTA Court. The EEA Agreement specifies that membership is open to member states either of the EU or of the EFTA. When entering into force in 1994, the EEA parties were 17 states and two European Communities: the European Community, which was later absorbed into the EU's wider framework, and the now defunct European Coal and Steel Community. The European Economic Area (EEA) was established via the Agreement on the European Economic Area, an international agreement which enables the extension of the European Union's single market to member states of the European Free Trade Association. [71][72] However, EEA countries are consulted about new EU legislative proposals and participate in shaping legislation at an early stage. Guernsey has its own distinct legal system and, in common with Jersey, is a separate jurisdiction from that of England and Wales. Trade agreement details stipulated by the EEA include liberties on product, person, service, and money movement between countries. MiFID governs those firms that provided defined investment services and products in the European Union (EU) as well as in Iceland, Lichtenstein and Norway (as members of the European Economic Area (EEA)). [62] The United Kingdom could be allowed by other member states to join the EEA and EFTA but existing EEA members such as Norway would have concerns about taking the risk of opening a difficult negotiation with the EU that could lead them to lose their current advantages. A 2013 research paper presented to the Parliament of the United Kingdom proposed a number of alternatives to EU membership which would continue to allow it access to the EU's internal market, including continued EEA membership as an EFTA member state, or the Swiss model of a number of bilateral treaties covering the provisions of the single market. However, he stated that Norway was open to the possibility of EFTA membership for the microstates if they decide to submit an application, and that the country had not made a final decision on the matter. First of all, Switzerland rejected the EEA agreement in a national referendum on 6 December 1992, obstructing full EU-EFTA integration within the EEA. It continues in accordance with the existing trading relationship by virtue of Protocol 3 to the UK’s treaty of Accession to the European Union (“Protocol 3”). On 1 January 1995, three erstwhile members of the EFTA—Austria, Finland and Sweden—acceded to the European Union, which had superseded the European Community upon the entry into force of the Maastricht Treaty on 1 November 1993. The fall of the Iron Curtain had made the EU less hesitant to accept these highly developed countries as member states, since that would relieve the pressure on the EU's budget when the former socialist countries of Central Europe were to join. However, during the negotiations for the EEA agreement, the European Court of Justice informed the Council of the European Union (Opinion 1/91) that they considered that giving the EEA court jurisdiction with respect to EU law that would be part of the EEA law, would be a violation of the treaties, and therefore the current arrangement was developed instead. British citizens, those from the European Economic Area countries and Swiss nationals are eligible to move to Guernsey. The European Economic Area consists of all European Union countries as well as Iceland, Norway and Liechtenstein. [15], The EEA Agreement was signed in Porto on 2 May 1992 by the then seven states of the European Free Trade Association (EFTA), the European Community (EC) and its then 12 member states. The European Economic Area is a free trade zone between the European Union and the European Free Trade Association (EFTA). Switzerland is … Guernsey is not part of the European Union. Member states must transpose into national law by 3 July … The islands were however part of the EU Customs Union in accordance with Protocol 3 to the Act of Accession to the European Economic Community of 1972. The Commonwealth of Independent States had been negotiating a CIS free trade area since 1994 and in 2011 eight countries agreed to create a free trade area. British citizens (including other Commonwealth nationals who have the right of abode in the UK), nationals of the European Union (EU), the European Economic Area (EEA) and Swiss nationals can immigrate to Guernsey with relatively minor regulations. means a Member State of the European Economic Area; (29.12.2011/1490) Guernsey has a retail fund sales Memorandum of Understanding with Switzerland, and is one of only three jurisdictions outside the European Union/European Economic Area to have one. These are; Russia, Ukraine, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, Armenia and Moldova. Guernsey neither contributes to, nor directly receives anything from, the funds of the European Union. While the purpose of the EEA is to extend the EU’s internal market to countries in the European Free Trade Area (EFTA), the EEA members are not obliged to implement EU policies on: EFTA stands for the European Free Trade Association, which has four member states. The EEA links the EU member states and three EFTA states (Iceland, Liechtenstein, and Norway) into an internal market governed by the same basic rules. The Commission argued that the sectoral approach did not address the major issues and was still needlessly complicated, while EU membership was dismissed in the near future because "the EU institutions are currently not adapted to the accession of such small-sized countries". [37] Negotiations started on 15 March 2013 in Brussels, with the aim of achieving simultaneous accession to both the EU and the EEA on 1 July 2013. The EEA consists of 28 EU member states and the three other EFTA member states. Besides the 1992 Treaty, 1 amending treaty was signed, as well as 3 treaties to allow for accession of new members of the European Union. [9][10] The right and rules applicable in all EEA member states, including those which are not members of the EU, are specified in Directive 2004/38/EC[10] and in the EEA Agreement.[9]. The 31 member countries of the European Economic Area are as follows: ** The agreement is applied to Gibraltar as well, *** The agreement is not applied to Northern Cyprus. It allows them to be part of the EU’s single market. [32] Following the 2007 enlargement of the EU, which saw Bulgaria and Romania acceding to the EU on 1 January 2007, an EEA Enlargement Agreement was not signed until 25 July 2007 and only provisionally entered into force on 1 August 2007. [52] Unlike Liechtenstein, which is a member of the EEA via the EFTA and the Schengen Agreement, relations with these three states are based on a collection of agreements covering specific issues. According to Article 1 its purpose is to "promote a continuous and balanced strengthening of trade and economic relation". It used to include Switzerland and the visa regimes of most countries throughout the world still treat Swiss passport holders as if Switzerland was still an EEA member. Guernsey is one of the top four jurisdictions for registering. In November 2012, after the Council of the European Union had called for an evaluation of the EU's relations with the sovereign European microstates of Andorra, Monaco and San Marino, which they described as "fragmented",[51] the European Commission published a report outlining options for their further integration into the EU. The European Economic Area (EEA) comprises the countries of the European Union (EU), plus Iceland, Liechtenstein and Norway and was established on 1 January 1994.. On 15th December 1971 the States of Guernsey concurred by voting unanimously to accept the negotiated terms. The United Kingdom benefits from this relationship during the transition/implementation period planned by t… Has looked into membership of the suggested options by itself, the Euro ( EEA the. Eu enjoy free trade agreement details stipulated by the Commission ] Third country goods are excluded these! 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