Out of all the regions around the globe, the Schengen region holds certain significance. The popularity of this region owes to its global economic, regional importance and highly civilized societies. The Schengen visa is considered one of the most desired options for global mobility, yet it is hard to attain. The Schengen area is formed by the unification of the 26 European countries called European Union (EU). Signed in on 14 June 1984, the Schengen treaty was initially established among five nations. Over time it continued expanding and covered almost the entire European region.
What is Schengen Treaty?
Since the Schengen treaty symbolized unification, the countries signing up this agreement had to abolish their national boundaries and follow the Schengen borders instead. This policy allows the Schengen countries’ citizens to move freely within the region. Over 400 million EU citizens can travel in the Schengen area without considering the borders.
Besides, a common Schengen visa was also formed, which allows non-EU citizens to travel to multiple Schengen countries under a single permit. As a result, the Schengen visa has emerged as the world’s largest and one of the most powerful visas.
A major proportion of the European region is a part of the Schengen and comprises some of the most economically important countries. It is not just the visa that these Schengen countries share, but according to this treaty, there are tons of other factors included.
These countries share similar economic and judicial systems. The Schengen countries have a union to solve their financial issues together. Under this agreement, these countries are considered each other’s biggest allies.
Why Schengen Countries are Popular Among Investors?
The popularity of these people among investors is incredibly high. They want to invest in this region as it is extremely prosperous and gives freedom to move and expand. The demand for citizenship by investment schemes is even higher in these regions.
The following are some of the reasons for the popularity of the Schengen area among the investors.
- Attaining citizenship in one of the Schengen countries allows the investors to access the entire Schengen area. Thus, with a single investment, one can enjoy free access to multiple countries. This region allows the maximum amount of mobility in the world. It is the primary reason why the Schengen area is so popular and demanded.
- The economic condition of the Schengen countries is better than many other regions. Most of them are enlisted as the highly-developed regions in the world. Thus, investing in this region will be a viable choice financially.
- The living standard of these countries is much better than many regions in the world. This region is a perfect embodiment of the European lifestyle. Besides, the educational and basic facilities of these areas are also superior. That is why it is an ideal region to live with family.
- The Schengen is close to Asia and Africa, where most countries are under-developed. This region perfectly depicts the flourishing Western world. These countries’ lifestyles and economic conditions attract people from these Asian and African areas. Stability-wise, Schengen countries are also better than the other countries. Therefore, many people from these regions look forward to investing in these countries and attaining European citizenship.
- Schengen countries offer comprehensive citizenship by investment programs. Some of these countries provide citizenship on relatively low investments. Thus, investors can attain European citizenship by investment and gain access to the Schengen area even with low amounts.
With UK’s exit from the Schengen treaty, the Schengen area undoubtedly has faced some downfall.