[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]. Not being bound by the Common Fisheries Policy is perceived as very important by Norway and Iceland, and a major reason not to join the EU. The European Environment Agency consists of all European Union countries as well as Iceland, Norway, Liechtenstein, Switzerland and Turkey. 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". Guernsey has its own distinct legal system and, in common with Jersey, is a separate jurisdiction from that of England and Wales. In mid-2005, representatives of the Faroe Islands hinted at the possibility of their territory joining the EFTA. 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. These are; Russia, Ukraine, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, Armenia and Moldova. Other nationals of Member States of the European Economic Area and Switzerland. (once available) the third-country passporting regime. 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)). 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. [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. While the ECJ and European Commission are respectively responsible for the interpretation and application of the EEA Agreement in the EU (between EU member states and within EU member states), and the EFTA Court and EFTA Surveillance Authority are likewise respectively responsible for interpreting and monitoring the application of the EEA Agreement among the EEA-EFTA states (between the EEA-EFTA states and within the EEA-EFTA states), disputes between an EU state and an EEA-EFTA state are referred to the EEA Joint Committee rather to either court. Neither the Commission nor the States of Guernsey Policy Council takes any responsibility for the financial soundness of the Partnership or for the correctness of any of statements made or opinions expressed with regard to the Partnership. The non-EU members of the EEA are not represented in Institutions of the European Union such as the European Parliament or European Commission. All Guernsey funds are eligible to be marketed into the European Union and European Economic Area (“EEA”) in accordance with the provisions of the AIFMD through both: 1. national private placement regimes; and 2. [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]. An EEA Council meets twice yearly to govern the overall relationship between the EEA members. They have a combined population of approximately 165,000, and a combined GDP of approximately £6.2billion. The EEA Agreement specifies that membership is open to member states either of the EU or of the EFTA. [48] However, the ability of the Faroes to join is uncertain because, according to Article 56 of the EFTA Convention, only states may become members of the Association. The following countries are part of the EEA, but not of the Schengen Zone: On the other hand, the country of Switzerland is part of the Schengen Zone but not of the EEA. [69], As a counterpart, these countries have to adopt part of the Law of the European Union. Guernsey funds with a Guernsey manager which are not actively marketed into the EU/EEA fall outside the scope of AIFMD. This includes: • nationals of any state belonging to the European Economic Area; • residents of the British Islands or in a British Overseas Territory; funds for sale to retail clients in South Africa. 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. [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. You will also find other legal documents, such as all adopted Joint Committee Decisions and the EEA status of EU legal acts. 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). 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. The . This includes: • nationals of any state belonging to the European Economic Area; • residents of the British Islands or in a British Overseas Territory; Guernsey is not part of the European Union or the European Economic Area. [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). Therefore, it is important to find out whether you would be entitled to work and live in Guernsey, before moving here. 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. All Guernsey funds are eligible to be marketed into the European Union and European Economic Area (“EU / EEA”) in accordance with the Alternative… It is part of the Bailiwick of Guernsey, a British Crown dependency. The EEA Joint Committee consists of the EEA-EFTA States plus the European Commission (representing the EU) and has the function of amending the EEA Agreement to include relevant EU legislation. On the question of the Withdrawal of the United Kingdom from the European Union (commonly known as Brexit), the EEA Agreement will continue to apply with regards to the UK during the transition period, in pursuance of Article 126 of the Withdrawal Agreement. [71][72] However, EEA countries are consulted about new EU legislative proposals and participate in shaping legislation at an early stage. Arguing from a liberal intergovernmentalist perspective, these authors argue that large multinational corporations in EFTA countries, especially Sweden, pressed for EEC membership under threat of relocating their production abroad. [8] The Agreement is applied provisionally with respect to Croatia—the remaining and most recent EU member state—pending ratification of its accession by all EEA parties. [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. As EEA membership is currently only open to EFTA or EU members, the consent of existing EFTA member states is required for the microstates to join the EEA without becoming members of the EU. 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. 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. Only Switzerland is neither part of the EEA nor the EU. The Agreement on the EEA entered into force on 1 January 1994. 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]. [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. … [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. In the first meeting since the Brexit vote, EFTA reacted by saying both that it was open to a United Kingdom return and that it had many issues to work through[60] although the Norwegian Government later expressed reservations. The EEA consists of members of … These countries are as following: None of the EFTA member states have the Euro as their currency, while 19 of the EU or EEA member states use the Euro as their currency. 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. 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. Most EEA countries are part of the Schengen Area. The United Kingdom benefits from this relationship during the transition/implementation period planned by the treaties. 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. Mike Russell said he would not like a “halfway house” of European Economic Area (EEA) membership. Guernsey. The EFTA Secretariat is headquartered in Geneva, Switzerland. Eighteen states + EEC and ECSC originally signed the adjusting protocol on March 17, 1993. The contracting parties are the EU, its member states, and Iceland, Liechtenstein, Norway, and the United Kingdom.[8]. 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'. All others require a ¨leave to remain¨ permission to settle. [59] The United Kingdom was a co-founder of EFTA in 1960, but ceased to be a member upon joining the European Community. In addition, Belarus, Kazakhstan, Russia, Armenia, and Kyrgyzstan form the Eurasian Economic Union, including a customs union and a single market. After having negotiated the Surveillance Authority, the ECJ confirmed its legality in Opinion 1/92. Guernsey. 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. Thus, the EEA countries that are not part of the EU enjoy free trade with the European Union. You will need to comply with the residency requirements demanded over the five to six years needed to stay in Guernsey to become eligible for citizenship. Guernsey neither contributes to, nor directly receives anything from, the funds of the European Union. 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. 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). 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. The protocol entered into force on January 1, 1994, without the signature of Switzerland. 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. Non-European Economic Area (EEA) nationals are subject to the immigration rules of the jurisdiction within the CTA to which they are entering and residing (visa requirements, restrictions on employment and length of stay). The remaining options, EEA membership and a FAA with the states, were found to be viable and were recommended by the Commission. United Kingdom and the European Union main reason why Switzerland has bilateral agreements t… Guernsey not! 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