‘EU Inc.’ Plan Seeks to Spur Startups to Rival US, China

The European Union has unveiled a red-tape-cutting plan dubbed “EU Inc.” to boost the emergence of companies that could compete on the world stage with US and Chinese rivals.

The linchpin of the European Commission’s proposal is a set of measures to allow firms to incorporate once under a single EU-wide regime and operate seamlessly across the 27-member bloc. It also includes the possibility for companies to set up EU-wide employee stock option plans — with taxes being levied on income generated only once stocks are sold.