BUSINESSEUROPE: OPEN THE DIGITAL DOOR AND BRING EU COMPANY LAW INTO 21ST CENTURY

Today, the European Commission published its EU Company law upgraded Package which aims to facilitate companies’ use of digital technologies, specifically focusing on digital tools which allow creation of a new company in another EU country, communicating company data and performing cross-border mergers, divisions and conversions.

BusinessEurope Director General Markus J. Beyrer made the following comment:

“We need to open the digital door to authorities. More than a third of all EU Member States still do not allow to create a company using digital tools whilst this is becoming a reality outside Europe. It’s essential for entrepreneurs to move faster in this highly competitive and increasingly connected business environment. We see today’s proposal as an opportunity to finally bring EU Company law into the 21st century.”

On the proposals regarding mobility of companies, Beyrer said:

“For decades companies have been waiting to fully benefit from their fundamental freedom of establishment within the European Single Market. Finally, this empty space in EU law will now be filled with new legal frameworks on divisions and conversions of companies. We welcome this important step, but it is important to avoid creation of additional obstacles for companies. We need to facilitate cross-border operations and establish safeguards to ensure trustworthiness, at the same time avoiding overburdening check-ups.”