EU proposes fast, low-cost company set-up across bloc

The European Commission has unveiled plans to make it possible to start a business anywhere in the EU within 48 hours and for less than €100.

The proposal, known as “EU Inc.”, aims to cut red tape and help start-ups and growing firms expand more easily across the bloc.

Commission president Ursula von der Leyen said current barriers inside the EU are more damaging than external trade tariffs. At present, companies must deal with 27 different legal systems and more than 60 types of company structures.

Under the new plan, businesses would be able to register fully online, submit their details just once, and operate under a single set of EU-wide rules if they choose. The system would sit alongside existing national laws.

The proposal also includes fully digital procedures for company operations, including faster and simpler insolvency processes, allowing entrepreneurs to restart more easily if a business fails.

The Commission hopes the scheme will lead to around 300,000 EU Inc. companies over the next decade, most of them new businesses.

The plan must still be approved by the European Parliament and EU member states. The Commission is aiming for an agreement by the end of 2026.

^{© Valentine CHAPUIS / AFP}