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. 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. 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", the European Commission published a report outlining options for their further integration into the EU. Still, due to special agreements, it can still participate in internal markets. 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. 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.  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. 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. , On 20 November 2013, it was announced that an enlargement agreement was reached. 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. Other nationals of Member States of the European Economic Area and Switzerland. The main difference between the two is that to join the EEA it is necessary first to join EFTA.  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. 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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. EU nationals have existing rights of entry and residence under EU free movement law. (once available) the third-country passporting regime. After having negotiated the Surveillance Authority, the ECJ confirmed its legality in Opinion 1/92. The EEA and Norway Grants are the financial contributions of Iceland, Liechtenstein and Norway to reduce social and economic disparities in Europe.  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. , 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). The contracting parties are the EU, its member states, and Iceland, Liechtenstein, Norway, and the United Kingdom.. They have a combined population of approximately 165,000, and a combined GDP of approximately £6.2billion. British citizens, other nationals of the Member States of the European Economic Area and Switzerland and other nationals having a permanent settlement do not require an entry clearance from the Guernsey Border Agency. 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 […] First of all, Switzerland rejected the EEA agreement in a national referendum on 6 December 1992, obstructing full EU-EFTA integration within the EEA.  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. Most EEA countries are part of the Schengen Area. The reasons identified for this are manifold. Guernsey. Guernsey is not part of the European Union or the European Economic Area. Agriculture and fisheries are not covered by the EEA.  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. 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.  Bosnia and Herzegovina and Kosovo are considered potential candidates for membership.  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. Guernsey is one of the top four jurisdictions for registering. 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. Alderney is the northernmost of the inhabited Channel Islands. Guernsey funds with a Guernsey manager which are not actively marketed into the EU/EEA fall outside the scope of AIFMD. This announcement is provided for information purposes only. Jersey and the European Union. 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 United Kingdom benefits from this relationship during the transition/implementation period planned by the treaties. , During the transition period, both the United Kingdom and the other EEA members remain bound by the existing obligations stemming from international agreements concluded by the EU, including the EEA Agreement. They adopt most EU legislation concerning the single market, with notable exclusions including laws regarding the Common Agricultural Policy and Common Fisheries Policy.  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. The European Union Customs Union is a customs union which consists of all the member states of the European Union (including four territories outside of the EU—Akrotiri and Dhekelia, Guernsey, the Isle … (once available) the third-country passporting regime. 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. All Guernsey funds are eligible to be marketed into the European Union and European Economic Area (“EU / EEA”) in accordance with the Alternative… 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. 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). 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. The EEA was established on 1 January 1994 upon entry into force of the EEA Agreement. 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. From the payments perspective, in case of a “no-deal Brexit”, as of 1 November 2019 the UK will have to be considered as a non-European Economic Area (European Economic Area ) Single Euro Payments Area country like currently Andorra, Guernsey, Isle of Man, Jersey, Monaco, San Marino, Switzerland and Vatican City State. Who can live in Guernsey? Staying in the EEA, possibly eventually as an EFTA member, was one of the suggested options. 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. Guernsey is one of the top four jurisdictions for registering. , 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.. , Croatia signed its Treaty of Accession to the EU on 9 December 2011 and subsequently lodged their application to the EEA on 13 September 2012. Guernsey is not part 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 Treaty is a commercial treaty and differs from the EU Treaties in certain key respects. 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 When the UK joined the EU (the European Economic Community (EEC) as it was then) in 1973, it was agreed that Guernsey would benefit from the UK's membership of the EU by bringing it, along with the other Crown Dependencies, within the EU Customs Union for the purposes of trade in certain goods (but not services), whilst preserving its autonomy.  However, other EFTA states have stated that only sovereign states are eligible for membership, so it could only join if it became independent from the United Kingdom. The European Economic Area (EEA) Agreement is an agreement made in 1992 that brings the European Union (EU) member countries and three of the European … On 15th December 1971 the States of Guernsey concurred by voting unanimously to accept the negotiated terms. 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). 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. The Common Fisheries Policy would mean giving away fishing quotas in their waters.  The agreement did not fully enter into force until 9 November 2011. 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. 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)). 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 … 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. The remaining options, EEA membership and a FAA with the states, were found to be viable and were recommended by the Commission. 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".  In January 2017, Theresa May, then the British Prime Minister, announced a 12-point plan of negotiating objectives and confirmed that the government of the United Kingdom would not seek continued permanent membership in the single market. EU Customs Union. Of the original agreement, or a subsequent agreement on participation of that particular state in the EEA. , 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 28 states + EC signed an agreement on the participation of ten new states in the EEA on October 14, 2003. Guernsey is not part of the European Union or the European Economic Area. According to Article 1 its purpose is to "promote a continuous and balanced strengthening of trade and economic relation". The United Kingdom, in a 2016 referendum, voted to withdraw from the European Union. Who can live in Guernsey? 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. 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). 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