Proprietary companies are to be defined in a uniform way throughout the EU. Therefore the European Commission considers the introduction of uniform rules and regulations for the „European proprietary company«. The new legal form is to facilitate cross-border business in particular to small and medium-sized entities.
To this end the EU Commission has launched a public survey which is to clarify which obstacles in particular small and medium-sized entities face when doing international business in the EU and what exactly the statutes of such a European proprietary company should comprise. The results of this survey will be included in a new legislative proposal. The survey will come to a close on October 31st 2007. Participation is possible over the internet.
This initiative on the creation of a statute for an European proprietary company is part of an action plan which was put on its way in 2003. The introduction of such a uniform legal form throughout the EU is to facilitate cross-border business to small and medium-sized entities in Europe.