The Business Angel law has now been introduced into the Romanian legal system. Whether it will stimulate investment in new ventures is a question which still has to be answered. It is a step taken by the Government to try and bring new investment into the market. Law no. 120/2015 regarding fiscal facilities granted to
During the last period, we have received enquiries concerning property transactions and property led transactions all of which arose out of property purchases prior to 2009. Many investors both foreign and local made purchases during those times which they now regret. The reasons for this regret are many but they now have to deal with
As will have been seen from the previous articles the involvement of the lawyers can cause further delays in negotiating and closing the transaction. In many companies, they do not employ lawyers. They have a person who is defined as a legal advisor. The legal advisor will have a law degree but is not usually
Whilst not specifically part of the initial contract negotiations the introduction of lawyers into the negotiations will add a further dynamic. Depending on the size of the company the legal department may have been part of the original negotiating team and this can be both a hindrance and a help. The majority of larger companies
The previous post dealt with contracting with Romanian private companies, and now I want to look at the position in relation to State companies. Despite over 20 years of „capitalism” much of Romanian industry and resources are still in the hands of companies that are either Government owned or Government controlled. Unless your business can
I was recently reading about negotiations in China and how you need to have great patience and understanding. I brought to mind the situation in Romania when I first came here in 1990. The situation was not very different then to the Chinese experience. But what has changed, or has indeed anything changed since those
The Romanian Government is presently trying to change the current Financial Code and issue a new Romanian Financial Code. The reasons for the changes appear to as much political as economic, and indeed a number of economists have criticized the Government for what they see as obvious electioneering. The reduction in certain taxes will certainly
Since the beginning of the year we have had a number of enquiries about the AERO stock market in Romania. These enquiries have come from companies who wanted to know about trading as well as those who were considering going to the market either for a capital raising or a future IPO. AERO came into being because
Employment issues are always an interesting topic in Romania. As Romania has moved to a market economy there has been a revolution in employer/employee relationships. Depending on the political persuasion of the Government the rules are either relaxed or tightened. Recently we have been asked to advise on employer liability in relation to the acts of employees. Because of
Sorry to you all for missing the blog post last week. The Catholic Easter and the Romanian Orthodox Easter did not coincide and therefore there was the gap. Anyway, a Happy Easter to you all whenever you celebrated it. During the last few months as previously mentioned we have seen an increase in international business activity and