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Changing the legal form of a company Romania

I would like to modify the legal form of a company from a limited liability company into a joint stock company. Is this possible? If so, how can I proceed to it? Yes, modifying the legal form from one form to another is possible, implicitly being possible to change a…

Fictional companies Romania

What is a fictional company? The fictional company is an apparent legal person and can be either a form of simulation or a form of confusion between the company's assets and those of members, but this form of company may also exist due to the lack of a stand-alone organization.…

Groups of companies in Romania

What is a group of companies? Groups of companies refer to a group consisting of a dominant company and other companies controlled, either factually or legally, by the former. This type of control provide the dominant company with the opportunity to establish certain economic strategies and behaviors for the controlled…

Cross-border mergers Romanian- legislation

What are cross-border mergers and what types of legal entities can take a part in these mergers under the laws of Romania? Cross-border mergers can be achieved by joint stock companies (SA), limited partnership companies, limited liability companies (LLC), Romanian legal persons, as well as by European companies headquartered in…

Censorship Romania

What are censors in accordance with the Romanian legislation and what is their role? The censorss of a company are an organ which serves to prevent the insolvency of the company, to oversee its management and alert about the dangers arising from improper management of the company. More specifically, the…

Exclusion and withdrawal of associates Romania

What kind of persons can be excluded from a Romanian company and what types of companies can resort to this measure? According to Romanian Law no. 31/1990 regarding companies, the persons who may be excluded from a general partnership company (SNC), a limited partnership company, a company limited by shares…

Identification of legal persons Romania

What are the particularities of the legal entity in accordance with the legislation that governs this field? Pursuant to the provisions of the New Civil Code in Book I, "About people", the main elements that can be used in order to properly identify a legal entity in Romania are as…

Insolvency procedure Romania

What is the insolvency of a company more precisely and which Romanian law is governing this procedure? The Romanian law governing the insolvency procedure is the Law. 85/2014 on insolvency prevention procedures and insolvency. According to the legal provisions mentioned above, the term "insolvency" is defined as the state of…

Set up a consultancy company Romania

I would like to establish a business & management consulting company but I need more information regarding the legislation and the type of company that would best suit my needs. What can you tell me? Business & management companies are generally established as SRL ( limited liability companies ) under…

Set up a construction company Romania

I am looking to start my own construction company in Romania and I wanted to know more about this type of company. What can you tell me? Usually, construction companies in Romania are set either as a SRL ( limited liability company ) or SA (joint-stock company). In order to…