Waiting for EU Inc.
Plans for EU Inc. are currently being discussed at the European level, and the decisive trilogue negotiations on the matter will begin shortly. The goal is to establish a uniform legal form across the EU that will significantly simplify business start-ups and cross-border growth.
„Europe needs more tech startups. “EU Inc.„ would greatly simplify the process of starting a business and facilitate growth beyond national borders,“ says Bitkom President Dr. Ralf Wintergerst. “The strong support among founders shows that the EU is heading in the right direction. Now it’s time to implement these plans quickly and consistently across Europe.”
Expansion Without EU Subsidiaries
For EU Inc. to be truly successful and give the startup ecosystem a boost, founders believe it must, above all, make it possible to expand into other EU countries without establishing local subsidiaries—94 percent consider this very or somewhat important.
„The key point is that EU Inc., in the current
does not get bogged down in the upcoming political proceedings
becomes ”and the key provisions remain in effect."
Dr. Ralf Wintergerst,
President,
Bitkom
Close behind is a fully digital and automated process via a one-stop shop (91 percent)—that is, a single point of contact on the part of the relevant authorities.
Start a Business in 48 Hours
82 percent consider it important to be able to transfer shares digitally without a notary or other additional agencies or individuals, while 78 percent consider the free choice of a company’s registered office within the EU to be important.
About two-thirds of respondents believe that EU Inc. should offer a standardized EU-wide model contract for startup investments (69 percent), establish uniform regulations for the taxation of employee stock ownership (67 percent), and harmonize labor and social policy rules (67 percent). The ability to incorporate a business within 48 hours is also considered crucial by 67 percent for EU Inc. to succeed. The planned low incorporation fee of 100 euros was mentioned least frequently; only 57 percent of founders consider this important.
„It is crucial that EU Inc. not be torn apart in the upcoming political process and that the key regulations remain in place,“ said Wintergerst. (Source: Bitkom)
EU Inc.
With the planned „EU Inc.“, the European Union aims to simplify the process of starting a business and facilitate cross-border growth. Instead of having to choose between different national legal structures, such as a GmbH or an SAS, founders will in the future be able to establish a company under a uniform European legal framework. The plan calls for a fully digital incorporation process within 48 hours, with costs capped at 100 euros and no mandatory minimum capital requirement. Uniform rules for corporate governance and employee participation are intended to provide startups and investors with greater legal certainty. However, tax, labor, and social security laws will continue to be regulated at the national level. EU Inc. is part of the so-called “28th Regime” and is currently still in the legislative process. The goal is to make Europe more internationally competitive as a hub for innovation and business.
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