It says "Pan-European" everywhere, but would this include the UK?
No, but the UK already has easy company formation.
EU–INC – A new pan-European legal entity
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Re: EU–INC – A new pan-European legal entity
#152Can't work legally speaking. There has to be a single sponsoring member state. Just sadly how the EU is designed. The only way would be to copy it individually so it is the same in each member state which breaks the purpose of it.
And if the authors of the proposal had thought a bit more about their idea, they would have realized that the situation is exactly the same in the USA:
You have to select a state to incorporate in. You can't incorporate "federally". All states have different laws and regulations relating to business. Just like in Europe.
So they're chasing a false idea.
Re: EU–INC – A new pan-European legal entity
#153Can't work legally speaking. There has to be a single sponsoring member state. Just sadly how the EU is designed. The only way would be to copy it individually so it is the same in each member state which breaks the purpose of it.
this isn't fully true yes you company needs to be rooted in a specific country, and sure moving company roots between countries is still not always trivial (anti capital flight laws are a thing). But that isn't really in conflict with a EU INC per-se. I mean they do point out that it will have > Local taxes & employment and this isn't in conflict with - the same business form being available in all EU members - centr…
> anti capital flight laws are a thing
Hmm - any examples of this applying intra-EU? That feels like a violation of the free movement of banking services.
Re: EU–INC – A new pan-European legal entity
#154Local Taxes… the issue with EU is the taxes and cost of labour.
I haven't come across a single list of problem from business orgs that lists EU or local taxes, even if particularly high (California, Canada?), as a problem.
Usually, high taxes go hand in hand with high quality welfare state. Contrary to popular belief, the vast majority of business ppl are educated and understand the added value of an accessible publicly funded healthcare, pension and education system.
Commonly listed (and perennial business problems) are: unstable political environment (in the sense that tax law changes every four years, complex legal system, so long term planning is impossible), corruption (meaning you have to know who to bribe to get the job done), crime rates and lack of infrastructure.
Re: EU–INC – A new pan-European legal entity
#155It says "Pan-European" everywhere, but would this include the UK?
Its obviously EU - so not the UK, or Norway or Switzerland or Russia... I agree it is Eu-wide or pan-EU rather than pan European. Its probably not going to solve the problems it sets out to given all the differences between EU countries legal systems, tax, regulation etc.
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Re: EU–INC – A new pan-European legal entity
#156Earlier quoted context omitted.
> Well it didn’t work for the Euro What? Yes, it did work for the Euro, countries that are participating are now more equal than they were before, which is the goal. Who knows what will happen in the future, maybe Greece or someone else will truly sink the entire union, but it hasn't happened yet, so lets not confidently claim "it didn't work". > my parents putting up solar panels to offset german fears of nuclear is…
Equal in that hey suffer together? When even the SEK outperforms the EUR in times of distress you know it’s incredibly bad. Is it better that all of Europe sinks, maybe, but I’m happy I’m not losing my job because of pension plans in France or financial neglect in Greece, and I’m sure they would say the same if roles were reversed. And to be clear, it’s not about the people, but how governing is done. The same boat i…
The SEK has been underperforming the Euro for years (see the massive dip against the DKK which is Euro-pegged).
Re: EU–INC – A new pan-European legal entity
#157Earlier quoted context omitted.
"one europe" except for all the other bits of europe
Indeed, except for the bits of Europe which chose not to be part of the main part of Europe. That's how it works. And by "it" we mean both "free choice to be part of the union or not" and "legal jurisdictions".
I don't think you know how continents work. It's a bit like saying Canada isn't "North American".
Re: EU–INC – A new pan-European legal entity
#158Earlier quoted context omitted.
Can you elaborate more? I am self employed electrician in Bavaria using simple Gewerbe. It is straightforward at the beginning. Literally hundreds of webpages describe the procedure. It is obvious, that growing the company into GmbH with own VAT number increases the complexity. But I haven’t seen it other way in Europe.
In the UK, it took me half an hour and 30£ to open a Ltd, which I think is the equivalent of a GmbH. It might have changed, but a few years ago you could go from 0 to a fully functional limited company, with accounting, business account, registered address with mail forwarding, etc. in a matter of days, from the comfort of your sofa.
I think GmbH's have a minimum capital requirement so not entirely the same as UK Ltd which can be opened with £1 of assets.
Possibly closer to the US Inc?
Re: EU–INC – A new pan-European legal entity
#159There is nothing hindering European startups to raise money from all over Europe. Except that Europeans hate to invest in real businesses and love investing in real estate. American startups and businesses get investor money from all over the world, including from Europe. Willingness to invest in startups depends on the downstream of willingness to invest in business in general. If venture capital investors know that…
> They should ask themselves why European entrepreneurs should create their startup in Europe instead of in America.
What if the founders can't get a visa?
The assumption that the world is flat, trade is free, and people can just be anywhere - globalization - may not hold true for much longer.
Re: EU–INC – A new pan-European legal entity
#160Earlier quoted context omitted.
Europe is energy poor. We will never be able to compete on raw cost with the US, China and similar. Our path forward are through renewables, which today are vastly cheaper than fossil fuels. We decide the speed of the transition to green cheap energy by how much we tax fossil fuels. Low taxes = slow transition. High taxes = fast transition.
I don't believe this is true. The US has also seen a big growth of the renewables in recent years and they have managed to do it without carbon taxes.
That tells you how cheap renewables are today, especially when American energy markets generally are more monopolistic in structure.
The faster we get off fossil fuels the better.
The growth in the US is much smaller than Europe, except a few cases like California.