Digital door finally open for EU companies
- EU Company Law Package took last hurdle -
Today, the European Parliament agreed on the EU Company Law Package which grants EU businesses access to digital tools and processes in company law, such as set-up of a company, updating commercial registers, providing documents to authorities. It also creates a specific EU procedure to facilitate mobility of companies using digital technologies – for cross-border conversions, mergers and divisions.
BusinessEurope Director General Markus J. Beyrer said: “We are finally bringing EU Company law into the 21st century. Being able to use digital means to interact with authorities, companies will save precious time and costs. We also welcome the once only principle which will stop duplicating requests for the same information by different authorities. The mobility proposal is a major step towards a real EU freedom of establishment for companies. It is important that mobility – a fundamental right of companies – is facilitated rather than hindered. For companies to be motivated to use this instrument, numerous national requirements should not diverge after implementation.”