How to register a company for one Euro?

In the future, it will be possible to set up a company for one Euro and through online registration. This is the aim of a proposal adopted today in the Internal Market and Consumer Protection Committee of the European Parliament.

"It is essential for start-up companies to be able to put their services and products on the market as quickly as possible and with the lowest possible costs", said Ivan Štefanec MEP, EPP Group Spokesman on the issue, today in Brussels.

He added: "Currently, each Member State has its own system for the establishment of a company and the procedures to register a new company are often lengthy and costly. The new legislation will change that. It will allow people with good ideas to start a business in an EU market within a couple of hours."

"It will simplify procedures, make them more transparent, reduce costs and facilitate the cross-border activities of SMEs on the internal market. In this way, the initiative is intended to seriously contribute to the creation of job and growth opportunities in the EU and respond to the challenges of the digital age", concluded Štefanec.

Next steps: the legislation will be further discussed in September in the leading committee on Legal Affairs.