Pillar 2 - 11. Facilitating the use of digital technologies throughout a company’s lifecycle

  • Graziana Lonero profile
    Graziana Lonero
    18 October 2016 - updated 1 year ago
    Total votes: 1
On track

Present an initiative to facilitate the use of digital solutions throughout a company's lifecycle

 

Potential of action

Digital tools have the potential not only to break down barriers to cross border trade but also to change the way companies are run. Digitalisation has brought multiple benefits for those generating and managing economic activities in the form of lower costs, speed and overall efficiency[1].

Currently, 12 EU Member States still do not allow for electronic registration of a company and it can take 2,5 days to 30 days in Europe to start operating a business depending on the Member State of registration[2].

Description of action

The current situation does not allow businesses to fully benefit from digital tools where it comes to fulfilling company law requirements and interaction with business registers.

The overall objective of the action on facilitating the use of digital technologies throughout a company’s lifecycle[3] is to assess how to increase the use of digital tools in the area of company law in order to modernise and rationalise interaction between companies and public authorities and create a better framework for cross-border activities of companies. Possible elements for modernisation could be: improving the interaction between companies and public authorities, in particular registration authorities, by facilitating cross-border registration of companies on-line, and by revisiting current requirements on disclosure of company information; improve transparency and availability of information about companies; improve the cross-border communication between registration authorities.

The Commission ran a public consultation between May and August 2017 and has held several meetings with Member States and relevant stakeholders in preparation of the initiative.

Main responsible at the European Commission: DG JUST

Target date: 2017

Status: On track. Adoption is currently planned for November 2017.

More info (website):

 


[1] https://www.businesseurope.eu/sites/buseur/files/media/position_papers/legal/2016-01-13_digitalisation_company_law_and_corporate_governance.pdf

[2] https://www.businesseurope.eu/sites/buseur/files/media/position_papers/legal/2016-01-13_digitalisation_company_law_and_corporate_governance.pdf

[3] See also Commission Communication "Upgrading the Single Market: more opportunities for people and business" (COM(2015) 550, p. 5.