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 minimum level of the minimum gross salary in the country changed starting from January 1, 2023, reaching the value of 3,000 lei per month, without including increments and other additions, for a normal working schedule of 165,333 hours per month on average, representing 18,145 lei/ hour. The respective amendment can be found in Decision
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
If you have a company whose activity you want to temporarily suspend, you must submit to the Trade Registry Office next to the court where the company has its registered office, a series of documents necessary for the registration of this mention with the ONRC. How it can do this and what it does you
The times are changing. We find ourselves in a digital era where everything is connected. At a worldwide level the industry of telecommunications has never been more important. In Romania the telecommunication environment is almost exclusively private. This industry may lead to a growth of GDP and is a huge advantage for Romania. Supplying
The first step to consider when intending tostart your Romanian Shipping Company would the registration of your company with the local Trade Register. This is done exactly through the method required for any other Romanian Limited Companies, respectively: 1) Reserving the company name; 2) Drafting the necessary documents such as affidavits, specimen signatures, Articles of Association and
Setting up any type of company in Romania contains many advantages due to the advantageous geographical position, the large number of natural resources, the openness towards foreign investors and many others. The country is continuosly growing both from an economic and a population point of view. Cities are expanding this meaning a wide range
The process of selling a property in Romania, may be a complex one depending on the legal status of the property and the taxes that need to be paid by the seller before and at the moment of the sale. In order for a person (legal or natural) to sell property in Romania the
In order to benefit from this exemption, the employer as well as the employees must meet and comply with certain aspects. The last normative act that regulates this subject is Order No. 1168/2017 /3024/2018/ 492/2018/ 3337/2017 and which presents the following: 1. The company must carry out its activity on the territory of Romania and
Salary tax exemption for employees of companies active in the IT field. Read More »
Regarding the UBO, as per Romanian law (which is actually just implementing a EU Directive) there is always one or more natural person(s) who is considered a UBO because he/she controls – directly or indirectly – the legal entity. So, for instance, if the Romanian company X is owned by foreign company Y and that
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 .
