Europe, like many other developed areas of the world, is experiencing an aging population. By 2050, the working age population is expected to shrink by more than 50 million.

The European Commission has stated that to maintain economic growth, the EU needs to attract top talent from around the world. Unfortunately, migrants wishing to live and work in the EU have to deal with 27 different immigration requirements.

To combat these problems, the European Union is proposing a single work and residence permit for qualified migrants, entitled the "blue card" -- inspired by the United States green card and named after the color of the EU flag.

The European Union blue card would create a "one-stop-shop" for skilled migrants hoping to work in the EU.

The blue card would grant a range of social and economic rights, including family reunification. According to current plans, the blue card would be issued for a renewable period of two years. If renewed, the migrant would have an opportunity to move to another EU state.

The blue card scheme would also allow a worker to gain permanent residence after five years by adding up the time spent in the European Union, not just in one member state.

Eligibility under the European Union blue card is still being hammered out in the European Commission. However, it's expected to require a qualification earned by at least three year's study and/or five year's of relevant work experience. A job offer may also be required.

Employers would be required to show that an EU citizen could not be found to fill the job and guidelines would be put in place to discourage draining too much skilled workers from developing nations.

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