The Romanian economy changed in 1989 and this brought about a profound effect on the way that people lived their lives and business was done in Romania. Many foreign investors forget that only since 1989 has Romania had a free market economy. This has been a blessing and a curse. One of the major impacts
Companies have been formed in Romania for many reasons. The Trade Registry has endeavoured to clean up the number of dormant or non-trading companies which had been set up in the first flush of a free market economy. In many cases the owners have let these companies die as they had no interest in them
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
When I first came to Romania there was very little to purchase in the shops. Goods were in short supply and often of poor quality. There were very few imports. Shops would display articles and then refuse to sell them to you, as they would then have nothing else to display. This actually happened to me
One of the quirks of Romanian legislation incorporated in the Constitution is the use of Emergency Ordinances. The intention originally was for them to be used when Parliament was not sitting and allowed the Government to pass „emergency” legislation which would then be ratified by Parliament later when they were in sitting. Over the last 20