Foreign investors in the real estate field in Romania contemplating construction or refurbishment often request legal advice in respect of their obligation to appoint a consultant or a project manager within the process of constructing a new building or refurbishing an existing structure. They further request clarification regarding the differences between the definitions of project
The Romanian Government after much deliberation and, we are sure bargaining amongst the coalition members, finally signed the Ordinance no. 16/2022 amending and supplementing Law no. 227/2015 on the Tax Code. According to Article 4 of the Fiscal Code, modifications brought to the Fiscal Code enter into force after at least six months after its
As well as incorporation of companies, we are often asked to advise on the closure of a company’s business and the subsequent steps to be taken to close a company and to ensure that there are no outstanding liabilities on the administrator and the shareholders. The concept of limited liability should in theory protect the
Hammond – Partnership is pleased to welcome to the team Oksana Pidgorna an experienced Ukrainian lawyer. Oksana has a wide range of experience as a Ukrainian commercial lawyer having worked in the legal profession for over 15 years. Oksana is focusing on assisting Ukrainian companies in Romania who have been affected by the war as
A standard question of any potential foreign investor in Romania is, what is the current situation in Romania regarding the taxation of companies. To assist potential investors, we have prepared a short note which outlines the basic principles of the taxation regime for companies and individuals. This note is not intended to provide an answer
Hammond Partnership acting in association with Yiannis Pantelidis of PD Law Office from Athens, Greece advised and assisted the Greek Insurance Association and its members in filing claims in the bankruptcy of City Insurance and also before the Guarantee Fund. The Firm assisted the members of the PDL Office in ensuring all filings were in
Once a decision has been made to purchase an asset in Romania be it the business of a company or shares in a Romanian company other considerations then enter into the equation. As most lawyers and general counsels know, commercial decisions are made and then it is the lawyer’s job to implement such decisions. One
Romania currently has one of the most employee friendly legal regimes in the European Union. We are often asked to advise on the problems in terms of restructuring and dismissal of employees. Whilst not as employee friendly as France or Italy Romania comes very close behind. For all employers, the question of employee protection and
To help deal with the huge influx of Ukrainian refugees, the law firms of Globalaw, the international law network are joining forces to advise refugees how to best and most efficiently legalize their stay and complete all underlying formalities. Watch this space for information on the opening of help desks in Globalaw member firms. In
Why Increase share capital by converting loans into shares When a company is in the start-up stage, cash flow problems may exist and liquidity is needed for the company to operate. Although there are sources of financing available companies often choose to capitalise a loan from shareholders or associates, or even third parties. What is
