The European Commission has presented a proposal for a regulation on the EU Inc., marking the first concrete legislative development of the 28th regime. This optional, digital and harmonised legal framework is designed to facilitate operations within the single market. The main objective of this initiative is to reduce regulatory fragmentation across the 27 national legal systems, by simplifying the establishment, operation and cross-border growth of businesses, particularly for start-ups and scale-ups.
According to the proposal, EU Inc. is a company form that allows for the incorporation of an EU Inc. entirely online within 48 hours, at a maximum cost of €100, with no minimum capital requirements and simplified procedures throughout the company’s entire lifecycle. The regulation also provides for extensive use of digitalisation, the BRIS system and the ‘once-only’ principle to facilitate the cross-border circulation of company information. The proposal confirms the role of national business registers as the competent authorities for registration and the conferral of legal personality, whilst placing them within a more harmonised framework at EU level.
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