The European Commission unveiled EU Inc, a set of corporate rules to ease the process of setting up new businesses. EC stated the initiative would enable innovative companies to scale up and incentivise them to stay in Europe, while encouraging those which had left to return.
Major features of EU Inc include faster registration and simpler procedures to allow a company to be founded within 48 hours for less than €100 with no minimum share capital requirements; a fully digital operations process throughout the company’s lifecycle; simplified liquidation policies to allow founders to start new businesses if they need to; and strong safeguards against abuse by maintaining employment and social laws of EU countries. The EC pointed out that the current landscape means entrepreneurs and innovative companies face a fragmented corporate legal landscape, with 27 national legal systems and more than 60 company legal forms in place.
This means it can take a company weeks or even months to set up, slowing growth and raising costs, it argued. “EU Inc’s single harmonised set of corporate rules would mean that companies no longer need to navigate multiple national regimes, unlocking the true potential of the single market,” EC stated. The initiative forms part of a wider drive across the EC to boost competitiveness with the US, due to concerns that many start-ups in the continent move their operations to the nation. EU Inc now needs the go-ahead from the European Parliament and the European Council, with a decision expected by the end of 2026.
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