{"id":704998,"date":"2026-07-22T09:42:22","date_gmt":"2026-07-22T09:42:22","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/704998\/"},"modified":"2026-07-22T09:42:22","modified_gmt":"2026-07-22T09:42:22","slug":"super-passport-would-drive-growth-for-irish-companies-study-finds-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/704998\/","title":{"rendered":"\u2018Super passport\u2019 would drive growth for Irish companies, study finds \u2013 The Irish Times"},"content":{"rendered":"

Most financial services firms in Ireland believe plans for a \u201csuper passport\u201d for companies would boost growth among Irish businesses<\/a>, a survey has found. <\/p>\n

However, safeguards would need to be in place to prevent abuse of the system, the survey carried out for the Compliance Institute<\/a> said. <\/p>\n

The proposed 28th regime is a system that would allow companies to operate across all EU member states under a common set of rules. Under the plans, companies could use a single legal digital framework to establish themselves across all member states within 48 hours. <\/p>\n

More than 40 per cent of those questioned for the survey said the plans would \u201csignificantly\u201d improve growth and expansion opportunities for Irish firms, while 97 per cent said they could ease the administrative and regulatory burdens on companies operating across multiple EU jurisdictions. <\/p>\n

More than 120 compliance experts were questioned for the survey. <\/p>\n

Under the current rules, any start-up expanding across the EU<\/a> would need to comply with different company law regimes in 27 countries. That can introduce a level of complexity that works against start-ups. It has been blamed for forcing European start-ups to relocate to the US to grow and attract funding. <\/p>\n

Compliance Institute chief executive Michael Kavanagh said the regime could be a \u201cgame changer\u201d for Irish firms.<\/p>\n

\u201cA simpler framework could make it easier for entrepreneurs to start and grow an EU-wide business and, in turn, for that business to prosper,\u201d he said. <\/p>\n

The survey highlighted a number of potential benefits, including greater regulatory consistency, easier expansion across the EU and reduced compliance complexity. <\/p>\n

\u201cWhile strong and good regulations are important, a more measured approach to regulations and rules could ease the burden of red tape on Irish and EU businesses and perhaps be more conducive to economic growth and prosperity,\u201d Kavanagh said. <\/p>\n

\u201cIt\u2019s very early days with the proposed regime \u2013 it could be 2028 by the time the new system comes into force. Like any new regulatory framework, it\u2019s important that safeguards are built into it so that the 28th regime isn\u2019t abused.\u201d<\/p>\n

The plans would not replace existing national rules in the 27 EU countries, instead working alongside them. However, finding how the national rules and the proposed 28th regime would work side by side is a challenge, Kavanagh said.<\/p>\n

\u201cIt\u2019s crucial that the new 28th regime doesn\u2019t undermine the important protections and standards already built into existing national laws, such as employment rights and consumer protection,\u201d he added.<\/p>\n

\u201cA significant amount of work will also need to be done around how a country\u2019s national tax and social security rules can work alongside the 28th regime. It\u2019s important that time is taken to get this system right,\u201d he added. <\/p>\n","protected":false},"excerpt":{"rendered":"Most financial services firms in Ireland believe plans for a \u201csuper passport\u201d for companies would boost growth among…\n","protected":false},"author":2,"featured_media":704999,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,935,56,54,55],"class_list":["post-704998","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-european-union","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/704998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=704998"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/704998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/704999"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=704998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=704998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=704998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}