By Wester Van Gaal, Amsterdam, 13 February 2025, 10:02:05

Law professor Matthias Lehmann: “A European corporate framework would encourage more companies to incorporate in the EU, keeping tax revenue in Europe rather than flowing to offshore jurisdictions” (Photo: Giammarco Boscaro)

Anybody who has ever tried to read EU legislation knows it’s frustratingly complicated. And if you’ve tangled with Brussels bureaucracy, (hey, Horizon Europe), you know it’s a bewildering mess.

There is a reason for this headache: when 27 member states hammer out political compromises, clarity often gets lost.

Yet EU offcials and national governments are increasingly convinced that, to stay competitive on the global stage, rules must be simpler.

In January, the new(-ish) commission responded by announcing an “unprecedented simplification effort,” aiming to cut regulatory “burden” for companies by 25 percent across the board.

But the commission may be missing the point. Leaked documents of the upcoming “omnibus simplification package” suggest the EU’s green reporting rules will be “heavily watered down.”

The leaks have sparked concern among policymakers and campaigners, who argue that the commission’s use of ‘simplification’ is merely a euphemism for deregulation.

And earlier this month, investors managing €6.6 trillion in assets, warned that fewer rules doesn’t make for simpler legislation, and could even end up “undermining” competitiveness.

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L’Union européenne souffre aujourd’hui de ne pas offrir à ses entrepreneurs une structure sociétaire simple, attractive et accessible. Comment se sentir pleinement européen et commercer sur un marché unique alors même que la constitution d’une société – première pierre de l’entreprise – est entièrement placée sous l’empire du droit national ? Or, la rigueur du régime de la société européenne et son coût d’accès (SE) la rendent inaccessible au plus grand nombre : près de 20 ans après sa création, on en compte à peine quelques milliers dans toute l’UE, dont l’immense majorité en Allemagne…

C’est pourquoi il convient de dépasser les échecs des projets de Société privée européenne et de Societas Unius Personæ afin d’offrir aux acteurs économiques un instrument juridique adapté au lancement et à la croissance de leur activité.

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Il progetto di Codice europeo degli affari si rivolge a tutte le imprese, con particolare attenzione alle piccole e medie imprese / microimprese e alle start-up innovative, che hanno bisogno di accedere al risparmio europeo per svilupparsi nel grande mercato unico.

Non si tratta di creare un 28° regime giuridico artificiale riservato a un certo tipo di imprese ed esente dalle norme di diritto comune, comprese le norme tributarie e previdenziali. L’obiettivo è quello di gettare le basi, nei settori in cui è possibile farlo, per un Codice di commercio europeo, un vero e proprio diritto commerciale e degli affari europeo applicabile a tutte le imprese, un fattore di semplificazione, consolidamento, convergenza e apertura dei mercati.

Il ricorso ad un 28° regime opzionale per le imprese sarà d’aiuto per accelerare l’introduzione di nuovi strumenti europei che attualmente mancano all’emergere di un vero e proprio mercato europeo del risparmio e che non sono in contrasto con le disposizioni nazionali di ordine pubblico: la Società Europea Semplificata, le garanzie europee (garanzia, fideiussione, trust europei, ecc.), il contratto di prestito europeo (l’obbligazione privata europea e la sua emissione), ecc.

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El proyecto de Código europeo de los negocios afecta a todas las empresas, con especial atención a las empresas medianas, pequeñas y muy pequeñas, así como a las nuevas empresas innovadoras, que deben tener acceso al ahorro europeo para desarrollarse en el gran mercado interior.

No está pensado para crear una 28.ª ley artificial reservada a un determinado tipo de empresas, ajena a las normas de derecho común, incluidas las fiscales y sociales. Tiene como objetivo sentar las bases, en aquellos ámbitos en los que sea posible, de un Código de Comercio Europeo, auténtico Derecho europeo mercantil y de los negocios europeo aplicable a todas las empresas, factor de simplificación, consolidación, convergencia y descompartimentación de los mercados.

La utilización de un 28.º régimen facultativo para las empresas será de gran utilidad para acelerar la introducción de nuevos instrumentos europeos, inexistentes actualmente, para la aparición de un auténtico mercado europeo del ahorro y que no colisionen con las normas nacionales de orden público: la sociedad anónima simplificada europea, los títulos europeos (garantía europea, fianza, trust, etc.), el contrato de préstamo europeo (la obligación privada europea y su emisión), etc.

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The draft European Business Code applies to all businesses, with a particular focus on MSMEs and innovative start-ups, which require access to European savings to grow in the internal market.

It is not intended to create an artificial 28th body of law applicable only to a certain type of business, which is not subject to generally applicable law, including tax, employment and social security law. Rather, in the areas in which this is possible, its purpose is to lay the foundations for a European Commercial Code – a true European commercial and business law applicable to all businesses, which serves to simplify, consolidate, converge and decompartmentalise markets.

The availability of an optional 28th regime for businesses will be invaluable in expediting the introduction of new European instruments that are currently lacking if a true European savings market is to emerge, and that do not interfere with public policy rules at the national level. These include, for example, Simplified European Companies, European security interests (including European security, guarantees and trusts) and European loan contracts (European private bonds and their issuance).

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