18/7/2022
Expert Opinions
Sometimes the international law rules require the presentation of an expert opinion concerning the local foreign law when performing a legal action in relation to a foreign person or company.
Obtaining the expert opinion is a condition for performing the same action, and this condition will have significant implications for the validity of the action. Taking decisions in a foreign country without knowing the local law can entail a lot of problems especially if certain aspects are wrongly performed, aspects which can be hardly remedied afterwards. Avoiding misinterpretations of the law and mistakes in legal procedures presupposes the need of an expert in the respective law field from the respective country.
Even if sometimes countries are governed by bigger law systems – such as the European law – still the particularities of each country’s law system must be taken into account and analyzed properly.
Romania has, of course, its own law rules and regulations which must be properly verified when performing a legal action:
When it comes to the registration of real estate or acquisition of a real estate asset, our office can issue expert’s opinions to clarify certain aspects specific to Romanian and/or European law and their applicability depending on the actual situation indicated by the client. Asking for an expert’s opinion is very important also because according to Romanian law, acquiring the ownership right over an asset and registering it implies the minute verification of ownership documents and accomplishment of mandatory law procedures. These procedures sometimes vary from one case to another, making the help of an expert in this field absolutely necessary.
Our office in Romania issues expert’s opinions (due – diligence) in this field answering to the client’s needs and demands and offering proper advice and guidelines on how to conclude a sale and purchase agreement in order for the ownership right to be properly acquired and registered on the client’s name.
Registering an asset on the owner’s name once it is acquired and verifying the documents of ownership is important in order to avoid potential litigation that may arise from the wrong interpretation of the ownership laws.
Very often our office issues expert’s opinions on matters related to debating inheritances having elements of extraneity – e.g. a person with double citizenship (Romanian and Israeli) at the death moment owning assets both in Israel and Romania. In such case the expert’s opinion is needed because the client must understand which law is applicable to the respective inheritance given that Romanian is part of the European Union and Israel is not. Therefore what do we chose as inheritance governing law between the European Law, the Romanian law and the Israeli law? And what law is applicable to the assets? According to which law will they be registered in the ownership of the inheritors? Sometimes there is also a will involved so the client needs to understand if the will shall be enforced according to the Israeli law or European/Romanian law. In order to clarify all these aspects, our office provides clients with the correct and clearest way to handle sometimes complicated inheritances.
When we speak about starting a business in a foreign country, the incorporation of a company is essential. One cannot develop a business outside the limits of an entity dealing with profit and loss – i.e. a company. According to Romanian law there are several types of companies which can be established depending on the nature of business that the client envisages. Consulting with an expert in incorporation of companies is sometimes vital in order to make sure that the premises of starting a business are the correct ones. Our office’s specialists are able to assist the client commencing from giving the proper advice on which type of company to incorporate, continuing with the preparation of all necessary documentation for the incorporation and assisting the client in front of the proper bodies competent to constitute and validate the company.
Also, our office can assist client who already own a company but want to modify it under certain aspects. We deal with share transfers, changing name, addresses or administrators of companies, and other modification of already existing companies, in accordance to the client needs.
Another field related to companies that our office can help you with is the procedure of a dissolution of a company - a procedure which, in its essence, does not seem too complicated but it becomes so if certain steps and procedures are not being performed in a specific order, as imposed by the law.
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