The S.R.L. (Limited Liability Company) is the most common form of organization of companies in Romania, being also one of the safest for associates. The S.R.L. is also the most convenient way to open a company, as the share capital required for the establishment is only 200 lei.
In Romania, the person/group of persons wishing to start a business can do so according to the legal regulations regarding the manner of establishment, registration and the forms that a company can take, contained in Law 31/1990. This type of company has a limited liability before the law and towards its owners, for this reason it is an ideal option for partners due to the security offered.
The main documents required to start the specific procedures for setting up a company include several documents. The company registration file submitted to the Trade Register Office will include several documents:
- application-form O.N.R.C (Romania’s National Trade Register Office);
- reservation of the company name (in the county or at a country level);
- constitutive act (authenticated by the lawyer or notary public) at the elaboration of which must be clarified, obligatorily: the main object of activity; the secondary object of activity; the name of the company (with the reservation number issued by the O.N.R.C); company associates / administrators; the contribution to the share capital of each of the associates.
- fiscal record of each of the associates and administrators of the company;
- copy of the deed of ownership over the space where the registered office is established/loan or contract rental of the respective space;
- the agreement of the owners/tenants association;
- the agreement of the neighbours;
- copy of the Identity Card/Passport of the associates;
- signature from the administrator(s) of the company;
- statements from the company’s associates (authenticated);
- the power of attorney of the associates for the person empowered to submit the file to the O.N.R.C. (Authenticated);
- proof of depositing the share capital at the bank chosen by the company’s associates;
- statement (O.N.R.C. form) signed by one of the associates.
How long does it take to set up a SRL Company in Romania?
Within approximately 3 days, the company’s founding documents will be issued: the resolution of the director of the Trade Register authorizing the operation of the company, the registration certificate, the certificate or certificates confirming that they take the place of authorizations (if not an activity that has a significant impact on the environment).
The experience of our lawyers specializing in M&A for setting up a new company in Romania
The experience of M&A lawyers covers a wide range of corporate transactions for a wide portfolio of clients, international companies or local companies, in complex mergers and acquisitions projects. At the same time, the experience of M&A lawyers must include a wide range of corporate transactions for a wide portfolio of clients, international companies or local companies, in complex mergers and acquisitions projects. Both commercial and business law are a key indicator for today’s economy. Therefore, a good knowledge of all relevant provisions and practices by a merger and acquisition lawyer ensures the success of a firm.
The role of an M&A lawyer in setting up a company in Romania
The establishment of a Romanian company requires a lot of effort, documents and attention, as every detail is significant and the responsibility is appropriate.
In the case of consultancy for the acquisition of a business, a project team is set up consisting of a lawyer specializing in mergers and acquisitions, a tax advisor, an auditor and possibly a procurement consultant. A project coordinator will be the coordinator of the whole process and will ensure that the exchange of information between all parties involved in the transaction.
Therefore, the project will be completed within the planned time frame and will be in accordance with the established quality criteria.
M&A lawyers: Hammond Partnership
M&A lawyers successfully combine legal skills with a unique understanding of the applicable legal framework.
A merger and acquisition lawyer knows how to successfully combine legal skills with a unique understanding of the applicable legal framework and trade issues specific to these economic sectors. We also assess compliance issues, especially for customers operating in strictly regulated sectors. Our lawyers have a rich experience regarding the analysis and consulting related to the key legal aspect for carrying out various operations.
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