The European Commission has adopted a proposal for a directive to make it easier for companies to expand the use of digital tools and processes in EU company law: the proposal is aimed at facilitating companies' cross-border transactions and increasing transparency and trust in the corporate sector. With regard to reducing bureaucracy and administrative burdens, the proposed rules include: (a) an EU company certificate, available free of charge in all EU languages; (b) a standard multilingual template for a standard EU digital power of attorney authorising a person to represent the company in another member state; and (c) the elimination of formalities such as the need for an apostille or certified translations for company documents.
Originally published by May, 2023
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