Societas Europaea (SE)
On October 8 2001, the European Council adopted a regulation
establishing a statute for a European stock corporation (Societas
Europaea – SE). The SE regulation was accompanied by a direc-
tive on the involvement of employees in the SE.
The SE regulation adopts the place of management rule: Once incorporated,
the SE can change its place of management to another Member
State without giving up its legal status. The registered offce and
place of management must always be identical for the SE. The
SE can move freely within the EU and the EEA (Norway, Iceland,
and Liechtenstein) Member States.
An SE can be set up by two or more stock corporations from at
least two different EU Member States. Operating throughout the
EU on the basis of a single set of core regulations, the SE is an
alternative for corporate reorganizations on a European level. The
SE is designed as a publicly held corporation comparable to a
German AG with a registered share capital of at least € 120,000.
Depending on the form adopted in its articles of incorporation,
the SE can be governed by either a supervisory body and a manage-
ment body (two-tier system) or by a single administrative body