Is the Council close to adopting its position on the
draft directive
on single-member private limited liability companies? Nothing could be less certain. The subject was discussed for the first time at ambassador level at Coreper's 8 May meeting, at the end of which the Latvian EU Presidency expressed the hope of adopting a general approach at the next Competitiveness Council, on 28-29 May.
Behind the scenes, though, the delegations are hard pressed to find common ground. The day before…
Background
Presented by the Commission in April 2014, the draft directive on single-member private limited liability companies would allow any natural person to set up such a company through online registration in three working days and with minimum capital of one euro. The objective is to facilitate the creation of subsidiaries in other member states. A similar proposal (a regulation presented in 2008), brought to a standstill in Council, was withdrawn by the Commission in 2013. The new directive has a different legal base requiring a qualified majority rather than unanimity in the Council.