Business world welcomes vote on company law

The European Parliament agreed on  Thursday 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.

Reaction to the move was swift and came from BusinessEurope Director General Markus J. Beyrer.

He told this website, “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.”

Meanwhile, the European Commission says it welcomes Thursday's vote in the European Parliament on InvestEU, the programme to boost investment in Europe in the next long-term EU budget. This vote brings InvestEU one step closer to its creation.

InvestEU will make EU funding for investment projects simpler to access and more effective. Building on the success of the Juncker Plan, it will bring together under one roof and with a single brand the European Fund for Strategic Investments and 13 other EU financial instruments currently supporting investment in the EU.

Speaking on Thursday, Jean-Claude Juncker said: “The Investment Plan put Europe back in business and delivered on this Commission’s number one priority: creating jobs and growth. But we can do more and that's what InvestEU is about. By making smart use of the EU’s budget, InvestEU will help Europe stay an attractive place for investors worldwide. Over the next decade, the programme will unlock at least €650 billion for Europe to invest in its future, its economy and its people.”

Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “The next generation of investment support in the EU is almost there. Soon, businesses and entrepreneurs will get easier access to EU funding to turn their ideas into concrete projects. It will help keep the EU at the forefront of innovation and climate action, while creating jobs and ensuring a growth model that is socially, environmentally and economically sustainable.”

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Martin Banks

Martin Banks

Martin Banks is a highly qualified journalist with many years experience of working within the EU institutions. He is an occasional, and highly valued, contributor to EU today, writing on a wide variety of issues.

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