British Overseas Territories is the only overseas territory that is part of the European Union (EU), although it is not part of the European Customs Union, the European Tax Policy, the European Statistics Zone or the Common Agriculture Policy. Gibraltar is not a member of the European Union in its own right. The Sovereign Base Areas in Cyprus are not part of the European Union, but they are the only British overseas territory to use the euro as official currency. None of the other Overseas Territories are members of the EU, the main body of EU law does not apply and, although certain
British National (Overseas) applicants. Instead, all those who opted for the status were required to make an application for a British National (Overseas) passport at the time of registration, and a BN(O) passport remains today the sole legal document to demonstrate one's BN(O) status. In the first few years, the majority of BDTC in Hong Kong opted not to register for BN(O), so only 15% of the total passport applications in Hong Kong were for the BN(O) passport. In order to avoid peaks in the registration process towards 1 July 1997, the British government, by means of enacting the Hong Kong (British Nationality)