About the campaign

A 28th regime for all

Executive summary

The proposed 28th regime has the potential to become one of the most consequential reforms for Europe’s economy in decades. By creating a unified corporate framework across all 27 Member States, it could finally deliver what the Single Market has long promised but struggled to achieve: simple, predictable and interoperable rules for businesses operating cross-border.

For companies in Europe, the current fragmentation of corporate law remains a major obstacle to scaling up. Expanding beyond national borders remains too complex, costly, and administratively burdensome. If designed with ambition, the 28th regime can unlock the innovative capacity of European entrepreneurs and strengthen Europe’s competitiveness.

In this context, the letter below calls on the European Commission and Member States to ensure that the 28th regime truly works for all European businesses. We invite all like-minded companies and organisations to support this letter.

The letter

It is not hyperbole to say that what is currently being debated in Brussels might be the most influential reform coming out of EU policy in more than 20 years. The 28th regime envisions a unified corporate framework in all 27 member states. In its most basic form, this promises something Europe has long struggled to deliver: interoperable, predictable and simple corporate rules across the whole European Union. This is why the signatories, as representatives of European companies, urge the EU to prioritise ambition and speed.

Europe risks losing the competitiveness race with the largest economies in the world, and economic prowess is the single biggest lever in this struggle. However, despite the size of the European economy, the promise of a true single market continues to be full of obstacles. For SMEs especially, cross-border expansion remains overly complex and expensive.

Europe cannot afford a cautious or partial approach. Over are the times of national solo walks, lengthy legislative processes, and watered-down proposals. If we do not take this opportunity, we miss a once-in-a-generation chance to unleash the innovative power of European entrepreneurs looking to scale up their business across the Single Market.

In practice, this means at least three things:

The framework must be open to all companies. A single market instrument cannot be limited to start-ups or spuriously defined “innovative” firms. Every single business in the EU, regardless of sector, size, or time of formation, should be able to opt in to become a European company.
The 28th regime should be a regulation, not a directive. Anything else would undermine the very objective of harmonisation.
Registering a company under the 28th regime should be easier than or at least as easy as in existing national frameworks. It must not become an additional burden for entrepreneurs. At the very least, this means fully embracing the once-only and digital by default principles.

The European Commission, Parliament, and Council must match their rhetoric on competitiveness with concrete action. Done right, the 28th regime could finally deliver on the promise of the single market for SMEs, start-ups, and millions of businesses across Europe. This is the moment to prove that ambition and inclusion go hand in hand. The signatories stand ready to work with all institutions to make the 28th regime the transformative framework Europe needs.