{"id":4036,"date":"2020-07-16T11:17:49","date_gmt":"2020-07-16T10:17:49","guid":{"rendered":"https:\/\/dvs-europe.eu\/2020\/07\/16\/law-102-2020-changes-to-romanian-corporate-law\/"},"modified":"2020-07-16T11:17:49","modified_gmt":"2020-07-16T10:17:49","slug":"law-102-2020-changes-to-romanian-corporate-law","status":"publish","type":"post","link":"https:\/\/dvs-europe.eu\/en\/2020\/07\/16\/law-102-2020-changes-to-romanian-corporate-law\/","title":{"rendered":"Law 102\/2020: changes to Romanian corporate law"},"content":{"rendered":"

In MOF No. 583\/2 July 2020, Law 102\/2020<\/a>, which will apply effective July 5, 2020, was published and aims to facilitate entrepreneurial activity in Romania in order to stimulate the establishment of new companies. <\/p>\n

The first major change is (1) the elimination of the prohibition that natural persons and legal entities must now be sole partners in several Romanian law companies (LLCs). Therefore, entrepreneurs will be able to become sole partners in several such companies without any restrictions. <\/p>\n

In addition, the new law also eliminates the provision that “a limited liability company may not have as its sole shareholder another limited liability company, formed by a single person.”<\/p>\n

Under the provisions so far, anyone could apply to the court for the dissolution of a limited liability company if it was formed with a sole member who was already the sole member of another limited liability company.<\/p>\n

A second imported change is that (2) more companies will be able to be domiciled in the same house number (apartment or house) than the number of existing premises within it. Until now, company law has stipulated that a number of companies can be operated in the same location equal to the number of existing spaces that can be physically identified in the house number. <\/p>\n

In other words, if we are talking, for example, about a two-room apartment, as of Sunday, three or more companies will be able to operate in the same apartment.<\/p>\n

The third measure included in the new law is (3) the elimination of the need for certain documents, particularly necessary during the incorporation of companies. More precisely, when registering a company or when changing the registered office, only the document certifying the right to use the registered office space will be submitted to the Commercial Registry Office. <\/p>\n

Until now, in addition to the above document, other documents had to be submitted at the time of registration or change of registered office, demonstrating that several companies do not operate in the same registered office or, if they do operate, use at most one room each.<\/p>\n

In addition, (4) the opinion on change of use of collective buildings with residential regime disappears, i.e. that agreement of neighbors that was required until now. But only if these are situations where the activity does not take place at the registered office of the company. <\/p>\n

We remain available for any clarifications<\/p>\n","protected":false},"excerpt":{"rendered":"

In MOF No. 583\/2 July 2020, Law 102\/2020 , which will apply effective July 5, 2020, was published and aims to facilitate entrepreneurial activity in Romania in order to stimulate the establishment of new companies. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[],"class_list":["post-4036","post","type-post","status-publish","format-standard","hentry","category-laws"],"yoast_head":"\nLaw 102\/2020: changes to Romanian corporate law<\/title>\n<meta name=\"description\" content=\"Law 102\/2020: changes to the Romanian corporate law. 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