Proposal Regarding the Use of Digital Tools and Processes in Company Law: The Practioner’s Perspective

Abstract

The Commission’s Proposal 2018/0113 aims to promote the use of digital tools and procedures in company law. To this effect it introduces a compulsory procedure for the online incorporation of companies. The key principle of the proposal is that the incorporation can be done without the physical presence or the presentation of original documents. Member states must admit electronic identification means but can establish additional requirements to ensure the identity and capacity of the applicants and the compliance with national law, including the involvement of notaries. This study examines how this might be done in practice and how it might contribute to the security of transactions. As the proposal also provides for online filing of other documents and for the registration and filing or branches, we interpret that the same procedure should be applied to these transactions. The proposal also provides for an extension of the information of companies that has to be freely accessible in Commercial Registers. This is extremely useful for the internal market, so the proposal should guarantee that this information is reliable and easily proved by the applicant.