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The GEIE: A Legal Framework for European Economic Cooperation

The European Economic Interest Grouping (GEIE) is a legal structure established by the European Union, inspired by the French GIE (groupement d’intérêt économique). The GEIE aims to facilitate international cooperation by pooling the knowledge and resources of businesses from at least two EU member states, enabling small and medium-sized enterprises to participate in larger projects than they could manage alone.

Objectives and Purpose of the GEIE

Although GEIEs can generate profits, their primary goal is not to make money but to support the activities of the participating enterprises through shared resources and expertise, and to access broader markets.

Requirements and Formation

A GEIE must consist of companies from at least two EU member states, with no participation allowed from non-EU companies. The founding parties can decide whether to set a predetermined duration for the GEIE. The European legislator grants significant contractual autonomy to the members, while national legislators handle specific details, allowing each country to align the GEIE with its internal laws.

Regulation and Jurisprudence

Despite uniform GEIE regulations across the EU, each grouping is subject to the jurisprudence of the country where its registered office is located. This office must be declared in the founding document to avoid invalidation. In some countries, like France, GEIEs are assimilated to similar national entities, while in others, special national economic interest groups have been created.

In summary, the GEIE is a flexible and innovative tool for promoting transnational economic cooperation within the EU, providing European businesses with an effective means to collaborate and compete on an international scale.

di Il Quotidiano Online

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