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An essential condition for the functioning of the internal market is the free
movement of capital. It is one of the four basic freedoms guaranteed by EU
legislation and represents the basis of the integration of European financial
markets. Europeans can now manage and invest their money in any EU Member State.
The liberalisation of capital markets has marked a crucial point in the
process of economic and monetary integration in the EU. It was the first step
towards the establishment of our European Economic and Monetary Union (EMU) and
the common currency, the Euro.
Advantage
The principle of the free movement of capital not only increases the
efficiency of financial markets within the Union, it also brings a series of
advantages to EU citizens. Individuals can carry out a broad number of financial
operations within the EU without major restrictions. For instance, individuals
with few restrictions can
- easily open a bank account,
- buy shares
- invest, or purchase real estate in another Member State.
- EU Companies can invest in, own and manage other European enterprises.
Exceptions
Certain exceptions to this principle apply both within the Member States and
with third countries. They are mainly related to taxation, prudential
supervision, public policy considerations, money laundering and financial
sanctions agreed under the EU Common Foreign and Security Policy.
The European Commission is continuing to work on the completion of the free
market for financial services, by implementing new strategies for financial
integration in order to make it even easier for citizens and companies to manage
their money within the EU.
For further information we recommend you contact the Swiss Customs Administration or contact your bank directly.
Last updated 2008
Source: European Union
© European Communities, 1995-2008
Reproduction is authorised.
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