What Is Eea Countries?

Author

Author: Albert
Published: 4 Dec 2021

The European Economic Area

The European Economic Area is a European territory consisting of 30 countries. The Treaty of 1992 was signed between the member states. It is necessary to join the EEA first before joining the EFTA.

A country that does not belong to the EEA can join the EFTA. The Schengen Area is about travelling without border controls with a unified visa regime for the whole area, while the EEA is about free movement of goods, services, capital and people. The countries of the European Economic Area are part of the Schengen Area.

The Schengen Area

The agreement between Europe and countries facilitates movement. The requirements of the Schengen Agreement are important for Americans who are planning to travel through European countries. The treaty that created Europe's Schengen Area consists of 26 countries where internal border checks have largely been eliminated for short-term tourism, business trips, or travel to a non-Schengen destination.

The 26 countries are Austria, Belgium, Czech Republic, France, Germany, Greece, Hungary,Iceland, Italy, Latvia, Lichtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, and Spain. Many countries in the European Union assume that travelers will stay for three months, so you should have a passport that is good for at least six months. Although border checks have been eliminated, you should still have your passport with you as you travel around the world.

The EU Treaties are a Commercial Contract

The EU Treaties are a commercial treaty and different from the EEA Treaty. The purpose of the article is to promote a continuous and balanced strengthening of trade and economic relation. The Common Agricultural Policy and Common Fisheries Policy are not part of the EFTA.

The EEA does not cover agriculture and fisheries. Being bound by the Common Fisheries Policy is seen as a major reason why Norway and Iceland do not join the EU. The Common Fisheries Policy would give away fishing quota.

The EU and the EEA are different

The EU and the EEA are not the same. All EU members are required to be EEA members, but not all of them. The single market and the laws that apply to it are related to the EEA agreement. Several EFTA members have transitioned to become EU members over the years.

The Overseases Transfer Charge for QROPS

Unless a retirement saver wants to transfer a UK pension into a QROPS, the Overseas Transfer Charge applies. An expatriate in Spain who has a QROPS is exempt from the Overseas Transfer Charge because they are both in the European Economic Area. Switzerland is in the EFTA. Switzerland has agreements with the European Union that give it access to the single market.

EFTA Members are not part of the EU Customs Union

EFTA members are not part of the EU Customs Union. The EU Customs Union does not include the EFTA states. They have negotiated 26 Free Trade Agreements with other countries.

The Italian Identity Card and Paper Book

There are different rules for domestic use of identity documents. The national identity card or passport is a demand by some countries. Other countries allow the use of other documents. Greece and Italy are both issuing non-machine readable identity cards, while Italy is phasing out the issuing of non-machine readable paper booklets.

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