A European Economic Interest Grouping (EEIG) is a type of legal entity created on 1985-07-25 under European Community (EC) Council Regulation 2137/85. It is designed to make it easier for companies in different countries to do business together, or to form consortia to take part in EU programmes.
Its activities must be ancillary to those of its members, and, as with a partnership, any profit or loss it makes is attributed to its members. Thus, although it is liable for VAT and employees’ social insurance, it is not liable to corporation tax. It has unlimited liability. It was based on the pre-existing French groupement d´intérêt économique (G.i.e.).
Several thousand EEIGs now exist, active in fields as varied as agricultural marketing, legal advice, research and development, osteopathy, motorcycle preservation and cat-breeding. One of the more famous EEIGs is the Franco-German television channel ARTE. Among other EEIGs:
- EALA (European Advertising Lawyers Association)
- EDCTP: European and Developing Countries Clinical Trials Partnership
- EURESA (operational and flexible tool for cooperation and collaboration among ten European insurance companies belonging to the Social Economy)
- Eurocité basque Bayonne - San Sebastian
- European Business School Paris
- Eurostar
- Thalys
- European Vaccine Initiative: European Vaccine Initiative : EVI
Read more about European Economic Interest Grouping: Abbreviations
Famous quotes containing the words european, economic and/or interest:
“European society has always been divided into classes in a way that American society never has been. A European writer considers himself to be part of an old and honorable tradition—of intellectual activity, of letters—and his choice of a vocation does not cause him any uneasy wonder as to whether or not it will cost him all his friends. But this tradition does not exist in America.”
—James Baldwin (1924–1987)
“The great dialectic in our time is not, as anciently and by some still supposed, between capital and labor; it is between economic enterprise and the state.”
—John Kenneth Galbraith (b. 1908)
“The house a woman creates is a Utopia. She can’t help it—can’t help trying to interest her nearest and dearest not in happiness itself but in the search for it.”
—Marguerite Duras (b. 1914)