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
During the last period, we have received enquiries concerning property transactions and property led transactions all of which arose out of property purchases prior to 2009. Many investors both foreign and local made purchases during those times which they now regret. The reasons for this regret are many but they now have to deal with
I was recently reading about negotiations in China and how you need to have great patience and understanding. I brought to mind the situation in Romania when I first came here in 1990. The situation was not very different then to the Chinese experience. But what has changed, or has indeed anything changed since those
One of the most frequent questions we are asked is regarding corruption and influence peddling in Romania and how this is dealt with under Romanian law. Unfortunately, Romania does figure in a number of corruption indices and in a high position. The question that is being asked is why, and how does it affect business.
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
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
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
- 1
- 2