Latest and more relevant News for foreign investors and expats regarding tax, bureaucracy, and law field in Romania
Generally speaking, a cross-border division is a division operation in which at least two of the companies involved are governed by the laws of two different Member States. The cross-border division may involve joint stock companies, limited partnerships, limited liability companies, Romanian legal entities and European companies with their registered office in Romania. Specifically, cross-border […]
With the decline of the volumes exploited by the Netherlands, and the authorities and the private sector must work together to take advantage of the unprecedented opportunity that has been created with the resettlement of energy priorities. “We have to make sure that the rest of Europe understands that Romania can play an essential role
Romania will become the largest gas producer in Europe Read More »
“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
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
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
Salary tax exemption for employees of companies active in the IT field. 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
Inheritance procedure – persons who did not have their domicile in Romania at the time of death, but owned real estate in Romania. The „inheritance certificate” can only be issued by a Romanian notary from the county where the deceased person had his legal domicile when he have passed away (assuming he lived in Romania).
23 out of a total of 65 major sectors in the economy were in surplus in each of the last two years, the period marked by the pandemic, according to the ZF analysis, according to data from the Trade Register. Health and social assistance, veterinary activities, food industry, post and courier, the fields being very
Peace, balance, creativity, and beauty are specific attributes of women! If women are also lawyers, then you know you are in good hands for sure! The Legality team is proud of its strong, hard-working women who are passionate about the implementation of the law and the support your business needs! Come and meet us! |
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 .
