One of the current most challenging issues on the incorporation of a company in Romania is the immediate tax impact on the company and its profitability. The majority of Romanian companies were incorporated with the minimum capital of two hundred (200) RON. This means a minimum capital of approximately forty-five (45) Euros. This is still
Over the last few months as an English speaking Romanian law Company with international connections, we have received a number of enquiries from people outside of Romania who have woken up to the fact that they have in the past made investments in Romania and Eastern Europe and they do not know what has happened
Succession The 17th August may not have been a very important day for many people and lawyers in Romania, but it will have had an impact on them. For Romanian family lawyers and those involved with tax planning, succession with cross border aspects have often given rise to complex structures. The law of succession varies
Now to some people in Romania penalties only relate to rugby or football. But to a lawyer, they have a more significant role in contract law. We have noted in the past the confusion regarding penalties not only in the minds of investors from the United Kingdom and the United States of America but also
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
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
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