How the EU works
The EU is a unique economic and political partnership between 28 European countries that together cover much of the continent.
The EU was created in the aftermath of the Second World War. The first steps were to foster economic cooperation: the idea being that countries who trade with one another become economically interdependent and so more likely to avoid conflict. The result was the European Economic Community (EEC), created in 1958, and initially increasing economic cooperation between six countries: Belgium, Germany, France, Italy, Luxembourg and the Netherlands. Since then, a huge single market has been created and continues to develop towards its full potential.
From economic to political union
What began as a purely economic union has evolved into an organisation spanning policy areas, from development aid to environment. A name change from the EEC to the European Union (EU) in 1993 reflected this.
The EU is based on the rule of law: everything that it does is founded on treaties, voluntarily and democratically agreed by all member countries. These binding agreements set out the EU's goals in its many areas of activity.
Mobility, growth, stability and a single currency
The EU has delivered half a century of peace, stability and prosperity, helped raise living standards, and launched a single European currency, the euro.
Thanks to the abolition of border controls between EU countries, people can travel freely throughout most of the continent. And it's become much easier to live and work abroad in Europe.
The single or 'internal' market is the EU's main economic engine, enabling most goods, services, money and people to move freely. Another key objective is to develop this huge resource to ensure that Europeans can draw the maximum benefit from it.
Human rights and equality
One of the EU’s main goals is to promote human rights both internally and around the world. Human dignity, freedom, democracy, equality, the rule of law and respect for human rights: these are the core values of the EU. Since the 2009 signing of the Treaty of Lisbon, the EU's Charter of Fundamental Rights brings all these rights together in a single document. The EU's institutions are legally bound to uphold them, as are EU governments whenever they apply EU law.
Transparent and democratic institutions
As it continues to grow, the EU remains focused on making its governing institutions more transparent and democratic. More powers are being given to the directly elected European Parliament, while national parliaments are being given a greater role, working alongside the European institutions. In turn, European citizens have an ever-increasing number of channels for taking part in the political process.
DIRECT INVESTMENT POLICY APPLICABLE TO NON-EU NATIONALS
All restrictions relating to Non-European investors have been lifted on October 1, 2004.
Further see Taxation details at http://europa.eu/pol/tax/index_en.htm
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