Including: Legislative Framework; Company Features; Corporate Forms; Joint Stock Company; Limited Liability Company; Regies Autonomes; Foreign Companies
A foreign company may set up an agency (representative office) in Romania once it has received authorization to operate from the Foreign Affairs Ministry. This update explains how to apply for such authorization and sets out the legal regimes that apply to agencies.
Romanian companies that have not yet paid up their share capital to the minimum limit required by law have been given 60 days in which to increase their share capital accordingly. Failure to do so will result in the winding up and liquidation of defaulting companies.
Romanian company law provides that the activities of directors should be monitored to ensure the smooth operation of a company. Specially appointed company auditors regulate the administration of joint stock companies, partnerships limited by shares and limited liability companies. This update outlines their main duties.
Under Romanian company law, company administrators may be either individuals or legal persons. This update outlines administrator's rights, obligations, powers and liability. It also explains what is required to become an administrator and how this contract may be terminated.
Including: Relevant Legislation; Company Features; Company Forms; Joint Stock Company; Limited Liability Company; Regies Autonomes; Foreign Companies