European startup founders and investors have expressed disappointment over leaked EU Commission proposals for a 28th regime company structure, warning the plans don't deliver the unified framework they've campaigned for. The draft, set to be officially unveiled Wednesday, would introduce new rules as a regulation rather than a directive, ensuring consistent implementation across all 27 member states. However, the proposal reportedly lacks the EU-wide company registry that campaigners have demanded.

Instead of a single European registry, the plan centers on an online portal where founders would submit information that gets transferred to national systems. Legal disputes would also remain within national court systems rather than being handled through a bloc-wide framework. EU Inc, the campaign group behind the push, acknowledged the proposals include some improvements but fail to achieve the main goal of creating a truly European company structure.

Serena Borbotti-Frison of Allied for Startups emphasized that the coming negotiations will determine whether the regime meets founders' needs. The ultimate test, she said, is whether European businesses will actually use this new structure instead of incorporating in places like Delaware. With the European Commission declining to comment, the debate over whether this proposal represents meaningful progress or just bureaucratic reshuffling continues.