The European Commission has proposed the introduction of a single EU business registration regime, which would replace national company registration rules in all EU countries. European Commission President Ursula von der Leyen announced this in a video address.
„In the European Union, entrepreneurs who want to expand their businesses are the first victims of the fragmentation of the European market. Instead of a single market, they are faced with 27 different business regimes (each EU country has its own)“, she said. „Therefore, the European Commission is introducing the EU Inc. regime. or Mode 28, which will create a single set of rules for regulating business across the European single market for 450 million consumers.“
According to the head of the European Commission, under the new rules it will be possible to set up a company in the EU within 48 hours, from anywhere in the community, completely online, with no start-up capital and for an amount not exceeding 100 euros. She added that entrepreneurs will only need to register all the documents for their business “once“ on a specially created portal, through which they will be automatically sent to regulators, tax authorities and other supervisory bodies.
Von der Leyen concluded her speech with a call to build “one Europe and one market“.