The European Company

The EU has created the statute of European company, dubbed SE for Societas Europeae.

An SE will be able to operate on a European-wide basis and be governed by Community law directly applicable in all Member States. The European Company Statute will be established by two pieces of legislation, namely a Regulation (directly applicable in Member States) establishing the company law rules and a Directive (which will have to be implement in national law in all Member States) on worker involvement.

The goal is to provide a uniform ground (legal, financial, administrative) to reduce the operating costs and burden for pan-European companies. Potential savings in terms of administrative costs were estimated to be up to 30 billion euros per year. This statute has yet to be formally adopted.

2 Comments

In regards to the European company (SE), how many EU member states are currently implementing this change into an European company?

It seems that the statute has been adopted on 8 Oct 2001 but has not yet entered into effect:

http://europa.eu.int/comm/internal_market/en/company/company/news/01-1376.htm

"The formal adoption follows the opinion given by the European Parliament in September 2001 on the two amended texts, on which the Council reached political agreement in December 2000. The legislation is due to enter into force in 2004."

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