Per the Wikipedia article, the "SE must have a minimum subscribed capital of €12...

Per the Wikipedia article, the "SE must have a minimum subscribed capital of €120,000 as per article 4(2) of the directive".[1] Note that it's the regulation, not the directive, with the requirement.[2] It appears the OP's article discusses an alternative 28th regime model suitable for startups.[3] See also the recent European Commission project group on the subject.[4]