Business Registers Interconnection System BRIS More transparency for

Business Registers Interconnection System (BRIS) More transparency for companies and stakeholders – the interconnection of business registers Dr Bartlomiej Kurcz European Commission, DG JUST, 4 September, Tallinn

Transparency • When working together with other companies, businesses, consumers, investors and authorities want to quickly check whether these companies really exist, whether they are trustworthy and who is legally representing the company. The interconnection of business registers will contribute to a more transparent and trustworthy environment for making business in the Single Market.

What's at stake? • Not one European Business Register, but the interconnection of existing ones • More much information about companies in one single click than ever before • Not only multi-lingual search for interested parties, but also notifications between registers via the central European platform • The precedence set for other interconnections (insolvency registers, beneficial owners' registers)

Where we are from 8 June 2017

The interconnection of business registers today • Already more than 20 million companies covered • Communication between registers on crossborder mergers and foreign branches • Documents against payment not yet available

BRIS - What next? In the short term • Have every Member State on board (22 MS now) • Enhance features based on user feedback

Challenges • Not every information contained in registers is easily searchable • So far only limited liability companies • Paying for the searched information • The issue of connection of third countries

BRIS - What next? In the longer term • Explore possible new scenarios for use of the system • Evaluate the functioning of the system and make any changes depending on findings

Thank you !