Proposal for a Directive to further expand and upgrade the use of digital tools and processes in company law - all documents

The Commission adopted on 29 March 2023 the proposal for a Directive to further expand the use of digital tools and processes in EU company law. 

The proposal aims to enhance transparency about companies and trust between Member States as well as to create more connected public administrations, while reducing administrative burden for companies and other stakeholders in cross-border situations. It will thus contribute to a more integrated and digitalised single market for companies.

In particular, the proposal aims to: 

•    make more information about companies (e.g. about partnerships and groups of companies) publicly available in particular at EU level through the Business Registers Interconnection System (BRIS);

•    ensure that company data in business registers is accurate, reliable and up-to-date, for example by providing for checks of company information before it is entered in business registers in all Member States; 

•    cut red tape when companies use company information from business registers in cross-border situations, e.g. by removing formalities such as the need for an apostille for company documents, applying the “once-only principle” when companies set up subsidiaries and branches in another Member State, and introducing a multilingual EU Company Certificate to be used in cross-border situations. Companies will benefit from reduction in administrative burden estimated at around EUR 437 million per year.