As part of the activity of our law firm, legal consultancy in various areas of civil law is essential. This category also includes legal consultancy regarding everything related to the establishment, operation / dissolution / liquidation / restructuring of commercial companies. Our team of lawyers has extensive experience in this field, has established hundreds of […]
Knowing who you are, what rights you have and how you can act in society, without being subject to sanctions, is a necessary thing. At this moment when the world is changing and the written or unwritten rules are in their turn in a dilation, contraction or dissolution and continuous rebirth, we need landmarks to
THE BRANCH Traders can carry out their activity in Romania through one of the forms of organization provided by law 31/1990 and the Fiscal Code. Among these forms of organization are the branches of companies already established, in Romania or abroad. What is a Branch? According to art. 43 para. 1 of Law 31/1990, “branches
“Equity” (category of capital premiums) are in the companies’ activities, although not regulated with the attention that would have been necessary in the summary of current capital movements. That is why, in the framework of acquisition projects in the field of investments, in which the issue of new shares or social shares is taken into
1. Is there a specific license we should acquire before actually doing such business in Romania? If yes, what is it and what are the requirements to get such a license? Yes, there are special formalities for this type of activity. The field of granting microcredits and other types of activities that can be carried out by entities other than
Some useful considerations regarding the obligations of associates and administrators of limited liability companies, in collective name and in simple limited partnership, as the case may be. In addition to the changes brought by Law 223/2020 regarding the minimum value of the share capital of a limited liability company, namely the decrease in the value
The EORI number is a unique number in the European Union, which the customs authorities or other authorities designated by the member states assign to economic operators and other interested persons, in order to use it starting from July 1, 2009 for all customs operations carried out by them throughout the territory European Union. The
EU/EEA/Swiss Confederation citizens, as well as foreign citizens domiciled in Romania, can obtain temporary residence documents, such as: residence permits/residence cards/registration certificates/single permits/EU blue cards, as applicable. Temporary residence documents are residence documents that contain a personal numerical code (CNP) that can be used later for fiscal and social security purposes. These are granted by
As part of the activity of our law firm, legal consultancy in various areas of civil law is essential. Legal consultancy in the area of labor law is also included in this category. Our team of lawyers has represented the parties involved in labor disputes over time, but the most important thing is that they
As part of the activity of our law firm, legal consultancy in various areas of civil law is essential. Legal consultancy in the area of labor law is also included in this category. Our team of lawyers has represented the parties involved in labor disputes over time, but the most important thing is that they
The individual employment contract for the year 2022 Read More »
The limited liability company is the most common form of company in Romania, being the legal entity that best serves the interests of investors both from the point of view of the reliability of the activity, and from the perspective of its management. The limited liability company is abbreviated "SRL" in Romania and is the equivalent of the American limited liability company Limited Liability Company (abbreviated to LLC) or the German economic structure "Gesellschaft mit beschränkter Haftung" (abbreviated to GmbH), or the structure called "limited" , the structure used in most Latin American states.
The limited liability company is characterized by:
✓ the character intuitu personae, which means that this economic structure is based on the trust between the associates;
✓ the division of the share capital into fractions called shares, which cannot be negotiable securities;
✓ the liability of the associates is limited to their contribution to the share capital.
The limited liability company may also have a single partner, natural or legal person, of Romanian or foreign nationality, who will be the owner of all shares. Instead, the maximum number of associates is 50 people.
At present, the Romanian law no longer conditions the subscription and payment of a certain amount as share capital.
Through registration, the company acquires legal personality, becoming, under the law, a collective subject of law. The conclusion given by the judge is sent, ex officio, to the Official Gazette of Romania for publication at the expense of the company and to the Financial Administration in whose territorial area is the main headquarters of the company for fiscal registration, mentioning the registration number in the Trade Register .
