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Free movement of capital
Article 63 of the Treaty on the Functioning of the European Union prohibits all restrictions on the movement of capital between EU Member States and between Member States and non-EU countries, unless they are necessary for legitimate public interests.
The purpose of free movement of capital is to enable efficient cross-border use of physical and financial capital for investment and financing purposes.
For individuals, this means being able to carry out many transactions, including:
- opening bank accounts abroad;
- buying shares in companies abroad;
- investing where the best return is;
- purchasing real estate in another country.
For businesses, it means being able to:
- invest in, and own, other European businesses;
- raise finance where it is cheapest.
SEE ALSO
- Banking union
- Capital market union
- Digital finance
- EU Financial services policy and financial stability
- Member States
- Free movement of capital in the EU (summary)
- Opening/switching bank accounts and information on fees (summary)
- Purchasing property in other EU countries (summary)
- Rules on the obligations of depositaries for EU investment funds (summary)
- Strengthening global competitiveness of EU investment funds (summary)
- Capital movements (European Commission).