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 business that the client wants to do.
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 starting 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.
In order to incorporate a limited liability company ( S.R.L.), there is a certain procedure that must be performed in front of the trade register and in order to do so, the client must provide us with certain aspects such as:
name variants – the name of the company should reflect some of its activity. Generally, given the big number of companies in Romanian and the stipulation of the law stating that the names must vary, it is advisable to come up with several names for the company containing two or even more words
a valid address where the registered office of the company will be located – the address must be used only by one company (there are some exceptions from this rules, but they can be applicable or not depending on the specific case presented by the client)
who will be the shareholders and administrator – a limited liability company cannot have more than 50 shareholders and can be managed by one or several administrator. In case the structure implies several administrators, they can be organized in an administrative council.
how much will be the equity of the company and in how many shares it will be split – for a limited liability company the minimum registered capital is of 1 leu meaning one share.
Once these details are provided, our experts will draft the necessary documents in order to be submitted to the competent trade register.
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 closing 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.