EU Inc (the 28th regime) · 2026/0074(COD)
Supports reducing administrative burden for fast-growing companies but wants changes to address employee stock options, pension portability, and risk capital environment.
Ensure the regime addresses the fragmentation of national regulations on employee stock options to create predictability and competitiveness for pan-European companies.
“A concrete problem for scale-ups in the EU is the fragmentation of national regulations governing employee stock options (ESOs). The lack of predictability severely limits ESOs as a key incentive tool, placing pan-European companies at a profound competitive disadvantage against US peers.”
Feedback, 2025-09-29
Rethink EU rules that codify systemic risk aversion, such as the outdated definition of "undertakings in financial difficulty," to better support high-growth, loss-making scale-ups in accessing state and EU innovation support.
“The current state of affairs in Europe creates a vicious cycle, making it increasingly difficult for high-growth companies to raise the necessary capital here compared to US counterparts. ... For instance, the General Block Exemption Regulation (GBER) uses an outdated definition of "undertakings in financial difficulty." This definition often excludes high-growth, loss-making scale-ups from critical state and EU support for innovation, incorrectly labeling aggressive investment in R&D and market expansion as "financial distress.”
Feedback, 2025-09-29
Harmonize the tax treatment of employee stock options so that taxation occurs at liquidity events rather than at vesting, to avoid imposing financial risk on employees.
“A core issue is the disparate treatment of the taxation event. In several countries, employees are taxed on the capital gain when options vest or convert into shares, even if those shares are illiquid and cannot be sold (the "dry tax" problem). This forces the entire financial risk onto the employee, making ESOs prohibitive incentives.”
Feedback, 2025-09-29
Facilitate seamless transfer of pension schemes across Member States to avoid financial penalties and support international talent mobility.
“In this context, the difficulty in seamlessly transferring pension schemes is a major deterrent. American professionals face significant financial penalties or threats to long-term security (like retirement savings) if they spend more than a few years in Europe due to the lack of reciprocal transfer mechanisms.”
Feedback, 2025-09-29
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