Societas privata Europaea

A European Private Company (Latin: societas privata Europaea, SPE) was a legal form for a limited liability company proposed by the European Commission in 2008, to be introduced across the European Union. It would have formed a company of limited liability, similar to the English limited company, the Austrian or the German GmbH, the Dutch BV, the Belgian BVBA or the French SARL. The aim of the proposal was to remove the current need for limited companies to reincorporate themselves in the corresponding legal form in all the EU member countries in which they wanted to trade, which represents a substantial administrative burden for small and medium enterprises.

Source: Wikipedia — Societas privata Europaea (CC BY-SA 4.0)