Authorities of Europe gathered to catch up with the United States and China in the field of technology and for that they want to change the laws concerning the operation of startups, says CNBC.

Profile European body urged governments in countries included in the block to change national legislation in order to attract to work in startups leading young professionals from around the world.

Particularly, it is proposed to simplify the procedure for issuing work visas to citizens of third countries, which employ local startups. Also it is planned to change the tax laws in a way that the income received by employees of options for the shares shall be taxable only after their sale, not at the time of purchase, as it is now.