Expanding your company in the EU is about to become easier

In her speech at the World Economic Forum in Davos, European Commission President Von der Leyen outlined plans for the establishment of 'EU Inc', which will allow citizens to register an EU-wide company online and within 48 hours.

This is an extract from her speech. The emphasis is mine:

This reality also reflects the fact that Europe has all the assets it needs to attract investment – the savings, the skills, and the innovation – with our AI Factories and Gigafactories and the applications that are necessary, the ‘AI first' principle. What we need is to mobilise collectively these assets to their full potential. And to focus on the essential. Focal point number one is to create a conducive and predictable regulatory environment. We live in an age where capital and data can cross Europe in a second. And business must be able to move just as freely. But as things stand, too many companies have to look abroad to grow and scale up – partly because they face a new set of rules every time they expand into a new Member State. So while on paper the market of 450 million Europeans is open to them, it is far more complicated in reality. And that acts as a handbrake on the growth and profit potential of companies. This is why we need a new approach. We will soon put forward our 28th regime. The ultimate aim is to create a new truly European company structure. We call it EU Inc., with a single and simple set of rules that will apply seamlessly all over our Union. So that business can operate across Member States much more easily. Our entrepreneurs, the innovative companies, will be able to register a company in any Member State within 48 hours – fully online. They will enjoy the same capital regime all across the EU. Ultimately, we need a system where companies can do business and raise financing seamlessly across Europe – just as easily as in uniform markets like the US or China. If we get this right – and if we move fast enough – this will not only help EU companies grow. But it will attract investment from across the world.

I bought incorporateineu.com a few hours after the speech. Once 'EU Inc' becomes real, I hope to make better use of it. Until then, I'll update this page as details emerge.