The Vision of a Single European Business Register
One of the most transformative yet underappreciated elements of the EU Inc proposal is the creation of a Unified European Business Register. While much of the debate around EU Inc focuses on the new corporate form itself, the digital infrastructure that underpins it could fundamentally reshape how businesses interact with government institutions across the European Union.
Today, a company operating in multiple EU countries must register separately in each jurisdiction, maintain compliance with different national registers, and navigate varying requirements for annual filings, shareholder disclosures, and beneficial ownership reporting. The administrative burden is enormous, and the fragmented system creates information asymmetries that undermine market transparency.
How the Current System Fails
The European Union currently relies on the Business Registers Interconnection System (BRIS), established under Directive 2017/1132. While BRIS represents a step forward by linking national registers, it has significant limitations:
- Read-only access — companies still need to file separately in each country
- Inconsistent data formats — each national register uses different standards and classifications
- Limited scope — BRIS covers only limited liability companies, leaving out many business forms
- Language barriers — documents are often available only in the local language
- Delayed updates — changes filed in one register may take weeks to reflect in the interconnected system
As a result, verifying company information across borders remains a time-consuming and unreliable process. Banks, investors, and business partners often resort to expensive commercial databases to obtain the cross-border company data they need.
The EU Inc Register: A Paradigm Shift
The proposed EU Inc register goes far beyond BRIS by creating a native European register rather than simply interconnecting national ones. Key features include:
Single Submission, Pan-European Recognition
An EU Inc company would file its registration once through a unified digital portal. This single submission would be automatically recognized across all 27 member states, eliminating the need for parallel filings. The registration process would be fully digital, accessible in all EU official languages, and completable within 48 hours.
Standardized Data Architecture
The register would implement a common data schema based on the European Legislation Identifier (ELI) and the Core Business Vocabulary (CBV) standards. This means:
- Company data would be structured identically regardless of the member state of registration
- API access would enable seamless integration with banking, compliance, and business intelligence systems
- Real-time updates would ensure that all stakeholders always see the most current information
- Machine-readable formats would support automated compliance checking
Beneficial Ownership Transparency
Building on the Anti-Money Laundering Directives, the EU Inc register would include a fully integrated beneficial ownership registry. This would provide:
"A single, authoritative source for understanding who ultimately controls European companies. The current patchwork of national registers, some of which have been struck down by courts, creates dangerous gaps in our financial transparency framework," notes Professor Adriana Marichal of the European University Institute.
Technical Architecture
The proposed register would be built on a distributed ledger architecture — not a blockchain in the cryptocurrency sense, but a replicated database system that ensures data integrity across multiple nodes maintained by national authorities. Each member state would maintain a node, ensuring data sovereignty while enabling real-time synchronization.
The system would feature:
- eIDAS-compliant authentication — using the EU Digital Identity framework for secure access
- Qualified electronic signatures — for filing and certifying corporate documents
- Open API layer — enabling third-party integration for legal tech, fintech, and regtech applications
- GDPR-compliant data handling — with granular access controls for personal data
Impact on National Registers
A key concern in the proposal's development is the relationship between the EU Inc register and existing national registers like Germany's Handelsregister, France's Registre du Commerce et des Sociétés, or Italy's Registro delle Imprese. The current proposal takes a complementary approach:
- National registers would continue to operate for national company forms
- The EU Inc register would handle only EU Inc entities
- A mandatory data exchange protocol would ensure consistency between systems
- National authorities would retain supervisory oversight over EU Inc companies domiciled in their territory
This approach avoids the politically sensitive issue of replacing national registers while still delivering the benefits of a unified system for the new European corporate form.
Benefits for Businesses and Stakeholders
The unified register promises significant benefits across multiple stakeholder groups:
For Businesses
Registration costs could drop by up to 80% compared to multi-country filing requirements. Annual compliance reporting would be submitted once rather than separately in each jurisdiction. Changes to company information — new directors, share transfers, address changes — would be reflected instantly across the entire system.
For Investors and Partners
Due diligence processes could be reduced from weeks to minutes. A standardized company profile would provide immediate access to key corporate information including financial statements, ownership structure, and legal representatives, all in a verified and machine-readable format.
For Regulators
Financial regulators, tax authorities, and law enforcement would benefit from real-time access to accurate corporate data, making it harder to use corporate structures for illicit purposes while making it easier to conduct legitimate oversight.
Implementation Timeline and Challenges
The European Commission envisions a phased implementation:
- Phase 1 (2027) — Technical specifications and pilot testing with volunteer member states
- Phase 2 (2028) — Launch of the register for new EU Inc registrations
- Phase 3 (2029) — Full integration with national systems and opening of the public API
Challenges include securing adequate funding, ensuring data protection compliance, managing the transition period, and gaining political consensus from member states with strong national register traditions.
Looking Forward
The EU Inc Unified Business Register represents more than a technical upgrade — it is a foundational piece of digital infrastructure for the European economy. By creating a single, authoritative source of company information, it could dramatically reduce transaction costs, improve market transparency, and make Europe a more attractive destination for business formation and investment. As the legislative process continues, the register's design will be a critical factor in determining whether EU Inc achieves its ambitious goals.
Originally published on EU Inc News
