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
Debt recovery in Romania has caused problems for foreign investors over many years. I would estimate that questions concerning debt recovery are the third most common request that we receive. Recoveries of debts in Central Europe including Romania were a byword for Byzantium thinking. One hears of cases that have been running for at least
The Romanian Finance Authorities are a law unto themselves. This is no more apparent than in the field of the prevention of Double Taxation. Treaty obligations do not necessarily apply in all cases and my comments below deal only to payments made to companies based in the EU. We are often asked by clients why