Today (March 29, 2023), the European Commission adopted a proposal for a Directive making it easier for companies to expand the use of digital tools and processes in EU company law.
The proposal aims to facilitate cross-border companies’ operations and to increase business transparency and trust by making more information about companies publicly available at EU level. It will also cut red tape for cross-border businesses, saving around EUR 437 million of administrative burden per year, thanks to an EU Company Certificate or the application of the “once-only principle”.
The proposal will contribute to further digitalisation of the single market and help companies, in particular, small and medium-sized ones to do business in the EU.
The press release and Q&A are available online.