Updated: August 26, 2021 | 11 minute read

    The European Union

    The European Union (EU) is a unified monetary body that seeks to balance the needs of its 27 member countries, which are independent fiscal and political entities. This makes it a large trading area, and it becomes inevitable to have a series of well-written trade agreements and negotiations. These are also well-known as the European Economic and Monetary Union. 
     

    These regulations enable the European Union member states to enjoy free trade without the need to pay additional taxation, enabling them to maintain competitive prices. 

    Since the EU represents millions of citizens, it ensures that the concerns of its member states are taken seriously and heard internationally. This way, the European Union members gain significant power in the international scene with advantages such as: 

    • Free movement of goods
    • Free movement for workers
    • Right of establishment and freedom to provide services
    • Free movement of capital.

    Find out more about the European Union here.

    Intrigued? Here is how it works. 

    The EU eliminates all border controls between members, allowing free movement of goods and people (except for random spot checks for crime and drugs). The EU promotes state-of-the-art technologies to its members in environmental protection, with projects in research, development and energy. 

    Public contracts are open to bidders from any member country. Any product legally manufactured in one of the member countries can be sold to other member countries without tariffs or duties. 

      Like the rules, the governance is well planned too.

    The EU is managed by three bodies: 

    • The EU Council (representing national governments) 
    • The Parliament (elected by the people) 
    • The European Commission (the EU staff) 

    They make sure that all the members act consistently in regional, agricultural and social policies. 

    Listed below are the three bodies that uphold the laws (in a series of treaties and supporting regulations) governing the EU: 

    • The EU Council: Sets up the policies and proposes new legislation, enabling the political leadership or presidency of the EU to be held by a different leading country every six months (between 1st January and 30th June 2017, Malta will be holding the Presidency of the EU) 
    • The European Parliament: Debates and approves the laws proposed by the Council
    • The European Commission: Staffs and executes the laws 

    Introducing the European Union members

    The 27 member countries of the EU are Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spainand Sweden. 

     
      The currency: The Euro (€)
     

    Today, the Euro is one of the world’s most powerful currencies, used by more than 320 million citizens in 24 countries, including Andorra, Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Kosovo, Latvia, Luxembourg, Malta, Monaco, Montenegro, Netherlands, Portugal, San Marino, Slovakia, Slovenia, Spain and the Vatican City. 

    This makes it worth investing in one of the European Union member countries. If this isn’t enticing enough, here is more:

     

    The benefits of the Schengen citizenship or residency 

    The citizenship is issued by the appropriate authorities to the interested parties who invest in the Schengen Area and plan to reside here. 

    The Schengen Area allows free movement of their citizens within this area as a single country.  

    Schengen Area

     schengen_area
    Austria
    Belgium
    Czech Republic
    Denmark
    Estonia
    Finland
    France
    Germany
    Greece
    Hungary
    Iceland
    Italy
    Latvia
     
    Liechtenstein
    Lithuania
    Luxembourg
    Malta
    Netherlands
    Norway
    Poland
    Portugal
    Slovakia
    Slovenia
    Spain
    Sweden
    Switzerland

    This is because the EU has removed the borders between the European countries, proving these additional benefits: 

    • When in the Schengen area, the nationals (of any Schengen country) are allowed to cross the internal borders of the Schengen countries, free from border checks 
    • Schengen Borders Code governs and facilitates the crossing of the external border for people with legitimate interest to enter the EU 
    • Harmonized entry and short-stay visa conditions for all Schengen countries 
    • Improved collaboration between the police force of the countries 
    • Enhanced judicial collaboration between Schengen countries, including faster extradition of suspected criminals, and easier relocation for the execution of criminal verdicts 
    • An advanced shared database, assisting member countries to quickly exchange information about people and goods between them, known as Schengen Information System (SIS) 

    Another benefit of becoming a resident of one of the EU member countries (e.g., Malta) is that you do not need a Schengen visa to travel to another Schengen area country for a maximum of 90 days in any 180-day period. Last but not least, the Malta Permanent Residency Programme (MPRP) provides the applicant and his or her family with permanent residency for life.  

    If you want to know more about how we can assist you, get in touch with us, and we will help you obtain the Schengen residency in one of the best countries.