On Wednesday 14 February, the Council of the European Union adopted its position on the directive aimed at increasing the digitalisation of company law processes and tools, in order to facilitate cross-border data exchange and reduce the administrative burden on companies.
Like the Parliament, the Council’s position is not far from the version of the text proposed by the Commission (see EUROPE 13152/1). In particular, they approve the introduction of an ‘EU Company Certificate’ which will contain information on companies to facilitate their administrative and tax procedures in EU countries.
The new rules also aim to cut red tape when companies use business register information in cross-border situations.
The mandate does, however, amend some parts of the text: each Member State is free to register or not personal data relating to companies in line with its own regulations. Similarly, the administrative procedures linked to registration when a company sets up a cross-border branch have been reduced.
The Council text also provides for an additional six months in the transposition period to “help businesses adapt to the new requirements”.
The Parliament adopted its position on the text last November (see EUROPE 13303/24). The date for the first interinstitutional negotiations has not yet been set.
See the Council’s mandate: https://aeur.eu/f/avm (Original version in French by Isalia Stieffatre)