Initial and Relevant Obligations of a European Economic Interest Grouping (EEIG)
Members
An EEIG may have an unlimited number of members. The members of an EEIG, acting collectively, may make any decision in order to achieve an object of the EEIG. Each member has one vote. It is, however, possible to allocate, by the contract of EEIG, more votes to certain members, provided that no member shall have the majority of votes.
The EEIG members are jointly and unlimitedly liable for its debts of any nature. In case of liquidation of an EEIG, its borrowers cannot pursue the payment of debts by one member, except where they have previously turned against the EEIG and have not been satisfied.
A grouping is not allowed to:
- hold shares of any kind in a member-company;
- hold shares of any kind in other businesses outside the framework of achieving an object of the Grouping and on account of anyone other than its members; or
- be a member of another EEIG.
Details of EEIG members, depending on the method of establishment, the incorporation, the transfer of seat, or registration of branch, are notified to the Registrar of Companies by submitting forms ΕΟΟΣ1 or ΕΟΟΣ2 respectively. After the incorporation of an EEIG, changes to members are notified to the Registrar of Companies by completing and filing form ΕΟΟΣ4. For further details, please visit page updating EEIG’s members and member's shares.
