What is EU Inc.? The European Commission proposal aims to make it easier to start, grow and expand a business across the EU with simpler rules, digital registration and fewer barriers.
Backed by the European Commission under President Ursula von der Leyen, EU Inc. could allow companies to register within 48 hours for less than €100, attract investment more easily and operate across the EU under a more standardised framework, while national tax, labour and social rules continue to apply.
In this video:
00:00 Why expanding across the EU is complicated
00:16 What is EU Inc.?
01:02 Register a company in 48 hours for less than €100
01:20 Funding and investment
01:37 Tax, labour and social rules
02:07 What happens next
02:22 A simpler EU Single Market
This would be a lifesaver in Germany. Currently you have to put up 25.000 Euro in a cash account to start a business here. That’s intended to ensure a business has both commitment by the founders and seed funding for operations. The goal seems to be to make government approval of a business venture a more solid beginning for everyone, but a serious side effect is that small businesses are very expensive to begin. All too many ventures in Germany are under the legal radar due to complex and expensive incorporation rules, which also means workers often lack protections and the ventures don’t pay taxes like they should.
Germany is currently faced with a lack of small businesses starting up, and having something like EU Inc. could make the barrier lower, which would hopefully help get more small (legal) ventures underway.
No. Firstly, the 25k is for a GmbH, and another comment already said there needs to be “only” 12.5k at the start. Secondly, in theory, you don’t need to put in cash, could be some other value.
Thirdly, if you need a limited, you can also start an UG, where the base amount is 1€. Your only obligation is that you have to stock up to 25k over the course of time.
Fourthly, you can also start as non-limited (e.g. GbR or eK or anything else), where there is none of that anyway.
My personal gripe with starting (and ending) a company (limited) in Germany is this shitty notary system: like those leeches get thousands just for reading back the contracts I wrote myself to me. What is this nonsense? And then, if it doesn’t work out, I need to wait years before I can close shop again?!
Thats misleading 25k is for a GmbH == “limited” Which is not really intended for a solo new business
You can absolutely open business in your own name with much less, but if it goes sideways your personal money is not off limits - as it should be
Honorable mention: uG “1€ gmbh”
Just a remark: When you found a company in Germany (a “GmbH”) it is possible to pay only half of the capital (EUR 12,500), even without guarantee by the founder(s) afaik.
If it is the same as Belgium then I think you’re still personally liable for the other half (but not more than that).