Our laborious team members have just released the attached article, concerning the single industrial license, which aims to simplify the process of obtaining various administrative acts (licenses, authorisations, approvals, endorsements, permits, etc.) required to carry out a plethora of industrial activities, including, for example, activities in the extractive, food, textile and energy industries. The complete […]

On July 26th, 2022, Law no. 265/2022 regarding the Trade Registry and for amending and supplementing certain legal enactments impacting the registration in the Trade Registry has been published in the Official Gazette of Romania (“Law 265/2022”). The new legislation will enter into force on November 26th, 2022. In the sections below, we will present […]

On August 4th, 2022, Ordinance no. 18/2022 on the authorization and functioning of representative offices of foreign companies and economic organizations in Romania (“GO 18/2022”) adopted by the Romanian Government has been published in the Official Gazette. GO 18/2022 represents the first change of Romanian legislation on representative offices adopted since 1990, thus bringing much […]

Our corporate team published an article in the International Bar Association’s Corporate and M&A Section regarding the latest changes to the Romanian Companies Law No 31/1990 in order to enable individuals and legal entities to be sole shareholders in more than one Romanian limited liability company. This was previously not the case, as express restrictions […]

The Romanian Energy Regulatory Authority (“ANRE”) issued a new procedure applicable for the settlement by ANRE of the complaints filed by the existing or future final clients of electricity and gas, as well as by the existing and future grid users (both producers and consumers) against the providers of services and activities in the energy […]

As regards Romanian limited liability companies, the convening of the general assembly of shareholders is done in accordance with the articles of association or as provided under Romanian Companies Law 30/1991 (the ”Companies Law”), specifically through registered letter at least ten days before the date set for the general assembly. The Companies Law does not […]

After a long and drawn out legislative process commenced in 2017, Law no. 102/2020 amending and supplementing the Companies Law no. 31/1990 (“Law 102/2020”) has finally entered into force on July 5, 2020, setting in place major changes to the corporate regulatory framework. The adoption of Law 102/2020 was adifficult legislative process. Following its adoption […]

Considering that the Draft Emergency Ordinance on certain measures related to corporate law (the “Draft Emergency Ordinance”) has been launched for public debate and proposes various measures aiming to help Romanian companies in the Covid-19 outbreak context (for example, the possibility for holding virtual shareholder meetings even if such possibility is not reflected in the […]

Law no. 129/2019 for the prevention and combating of money laundering and terrorism financing, and for the amendment and supplementation of certain legislative acts (“Law 129/2019“) requires Romanian companies subject to registration with the Romanian Trade Registry (with the exception of national companies and companies fully or majority owned by the State) to submit statements […]

Law no. 31/1990 on companies (the “Companies Law”) provides three powers that the Extraordinary General Assembly of Shareholders of Romanian joint-stock companies can delegate to the company’s Board of Directors or Management Board (depending on whether the company’s management is organized as a single-tier management system or as a two-tier management system), as follows: changing […]