Romania Legal Articles
Law related articles writen by lawyers
and experts witnesses practicing in Romania
July 28, 2014 By Hammond, Bogaru & Associates
Recently, on 18 July 2014 Order no. 1847 was issued by the President of the National Agency for Fiscal Administration to cover the approval of the application and the forms to be used by inactive taxpayers.
July 8, 2014 By Hammond, Bogaru & Associates
After several attempts including an appeal to the Constitutional Court of Romania the legislators have now adopted a new law regarding insolvency and bankruptcy. The new law is Law no. 85/2014 and was issued in June 2014 coming into force on 28th June 2014.
US company Pure Fishing Inc, the owner of worldwide-known fishing tackle brands, has obtained a positive decision in a second annulment action brought against local company SC Chen Yang 2000 SRL.
Although according to European Union reports, all Member States must deal with the regulation of bullying with top priority, the Romanian legislature has not included in the new Criminal Code provisions criminalizing bullying. The need of integration was stated in the Romanian doctrine to adjust legislation and regulation of moral harassment at work by making it consistent through all national laws and regulations.
Despite the current political turmoil the new Romanian Government has already passed legislation aimed at improving the investment climate. In the Official Gazette no. 563 of August 9, 2012 was published Government Resolution no. 797/2012 (“Resolution”) setting up a State aid scheme to support investments promoting regional development using new technologies and which created new jobs.
Romania has recently passed into law, Law no. 148/2012 which establishes the legal framework for the issuing of electronic documents (invoices, tax bills, receipts) which will contain data regarding economic operations such as exchange or sale of goods or services. This is a further step to modernise the financial and banking system in Romania. As electronic commerce continues to expand Romania will continue to be at the fore front of this industry.
Advantages of Alternative Methods of Settling Disputes - Ability to quickly design conflict arbitration agreements or by inserting arbitration clause in commercial contracts between parties either separately or compromise before the arbitration court.
Regarding its organizational structure, the Trade Register shall be kept by “The Trade Register Office”, which is organized in every county and in Bucharest, near the local trial court.
General information for foreign investors.
How does a Lawyer in Romania can exercise his profession?
General Information about the Romanian lawyer.
The Power of Attorney (POA) is the act in which the Romanian lawyer receives the authorization to develop a certain activity in the name and for the client, whether he is a natural or legal person.
Exequator is a procedure regarding the recognition of foreign judgments in Romania by court order.
For over 2 years now, the Romanian State Office for Inventions and Trademarks has been supporting the amendment of Law 84/1998 in relation to trademarks and geographical indications. Finally, on April 9, 2010, Law 66/2010 for modification and completion of Law 84/1998 in relation to trademarks and geographical indications has been published.
Custom is a second human nature and the Romanian justice has inoculated itself for years the concept that any misunderstanding should be resolved in a court of law.
The liquidated damages clause is the ancillary convention allowing the parties to determine in advance the amount of the damages incurred by the lender as a result of the borrower’s failure to fulfill or of the borrower’s delayed or inappropriate fulfillment of its obligation.
It is possible under Romanian Law to establish branches of an existing foreign company starting its business activities in Romania. The general term of a Romanian “branch” refers to the location where companies create secondary quarters, locations where the company sets up entities which are either only empowered to administer the Romanian company’s business or only empowered to represent.
In the present article we will briefly present the legal provisions in force in Romania which make the use of the FIDIC Conditions of Contract mandatory when Romanian authorities are either beneficiaries or employers.
In the following we will briefly present the characteristics of Romanian nongovernmental and nonprofit organizations.
Before the accession of Romania in the European Union there existed strict rules that prevented foreign investors, either legal or natural persons, to purchase land in Romania. After January 1st, 2007 when Romania joined the European Union these rules have been changed and as such presently foreign investors are allowed to purchase land in Romania under certain conditions.
The Romanian law provides for two types of inheritance: the legal inheritance and the inheritance established through a last will or testament.
Foreign natural or legal persons are admitted by the Romanian law to hold shares in Romanian limited liability companies. There is no limitation as to the share capital with a foreign investor, either legal or natural person, can hold in a Romanian limited liability company. As such, a foreign investor can hold the total share capital of a Romanian limited liability company, it thus being the sole shareholder.
In the following we would like to generally refer to the conditions, costs, steps and time frame for setting up a limited liability company in Romania.
The most frequently used types of companies in Romania are the limited liability company (“SRL”) and the joint stock company (“SA”). They are also the most recommended. From a fiscal point of view, one can choose to set up a ‘micro company’ or a ‘small and medium company’.
In Romanian Law a debt represents a patrimonial right in on the basis of which the creditor can request from another person (named debtor) to act per his obligations.
In the course of running a business and in a financial crisis, employers sometimes have to consider making some of their employees redundant. This is not a situation which is pleasant, but it is necessary and the employer has to ensure that the legal formalities are complied with. This article is intended to provide an outline of, and to draw the reader’s attention to the provisions of Romanian law and possible consequences.
For foreign employers sometimes it is important to consider when is an employee at work and when is he not. Whilst this may seem a strange question recent decisions and practice in Romania have raised the enquiry as to what is the correct answer. The question is important also for foreign employers who send their employees to work on projects to Romania. This note is intended to draw the reader’s attention to the provisions of Romanian law, recent decisions and possible consequences.
The Romanian divorce procedure is defined in the Romanian Family Code. A foreign citizen living outside Romania, married with a Romanian citizen before of Romanian authorities can divorce in Romania.
The amicable conflict solving between two or more parties, a procedure successfully employed in the USA and Europe, has determined the romanian society to perceive the advantages of the alternative means of conflict solving.
The Romanian lawgiver has applied mediation to the field of Criminal Law. Articles 67-70 in the Law 192/2006 comprise special provisions regarding mediation in the criminal cases, thus paying special attention to mediation in this field.