NEW EU DIRECTIVE: DIGITAL TOOLS IN COMPANY LAW
A new EU directive expanding and upgrading the use of digital tools and processes in company law entered into force on 30 January 2025. The new rules aim to modernise and streamline company law procedures across the EU by promoting the use of digital tools and processes.
A new "Digital EU Power of Attorney" is designed to remove formalities such as the need for an apostille on company documents and unnecessary translations in cross border procedures. The directive also facilitates the sharing of company documents and information that is available in the system of interconnection of registers and encourages the use of the 'once-only principle' in cases where companies set up subsidiaries and branches in another EU Member State.
EU Member States, including Ireland, have until 31 July 2027 to transpose the majority of the directive into national law, which will begin to apply from 31 July 2028.
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.
