News

Romanian Corporate Law Simplified

Published: 24 Jul 2020

Significant bureaucratic obstacles connected with the process of incorporation and the operation of Romanian Limited Liability Companies have been eliminated.

Starting with July 5th, 2020, the following are now possible:

• For one person to incorporate any number of LLCs (“SRL”)
In the past, this option existed just for one LLC, while holding structures needed to introduce a second shareholder
• For an LLC owned by a single shareholder to participate as sole shareholder in another LLC
This structure was strongly prohibited before, and led to practical problems within group structures
• For several companies to operate in the same space
This was the biggest problem when entering the Romanian market, since it was a challenge for group companies to structure the lease agreements so as to allow simultaneous headquarters in the same building
• To incorporate companies and make relevant changes with the Commercial Register, is now a less bureaucratic process
The formal requirements regarding the documents to be submitted to the Commercial Registries have also been simplified accordingly.

You can find more detailed information under: [https://stalfort.ro/wp-content/uploads/2020/07/20200710_VB_New_law_simplifies_procedures_regarding_Romanian_companies-.pdf]

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Country: Romania

Practice Area: M&A

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