Romanian Law

/Romanian Law

Why a Mandate Contract

Since 1989 Romania has passed from the command economy of socialism to commerce based on the free market and capitalism. Romanian commercial development really started with the passing of the Company Law (Law 30/1990) which enabled the formation of limited liability companies as well as joint stock companies. This was a first step in the [...]

Twenty Six Years Ago.

It has been drawn to my attention that 26 years ago on the 12th January 1990, it was the first time I came to Romania. I came with a party of ten, including another partner from my law firm in London. He had never been to Romania either. The TAROM plane had left London Heathrow [...]

Saving Your Property Investment In Romania

Over the last few months as an English speaking Romanian based law firm with international connections we have received a number of enquiries from people outside of Romania who have woken up to the fact that they have in the past made investments in Romania and Eastern Europe and they do not know what has [...]

Closer to Europe

Succession The 17th August may not have been a very important day for many people and lawyers in Romania, but it will have had an impact on them. For Romanian family lawyers and those involved with tax planning, succession with cross border aspects have often given rise to complex structures. The law of succession varies [...]

Penalties – Not The Football Kind

Now to some people in Romania penalties only relate to rugby or football.  But to a lawyer they have a more significant role in contract law. We have noted in the past the confusion regarding penalties not only in the minds of investors from the United Kingdom and the United States of America but also [...]

Romanian Business Angels to Appear

The Business Angel law has now been introduced into the Romanian legal system. Whether it will stimulate investment in new ventures is a question which still has to be answered. It is a step taken by the Government to try and bring new investment into the market. Law no. 120/2015 regarding fiscal facilities granted to [...]

Contract Negotiating Romanian Style Part 3

Whilst not specifically part of the initial contract negotiations the introduction of lawyers into the negotiations will add a further dynamic.  Depending on the size of the company the legal department may have been part of the original negotiating team and this can be both a hindrance and a help. The majority of larger companies [...]

Closer to European Taxation Norms

The Romanian Government is presently trying to change the current Financial Code and issue a new Romanian Financial Code.  The reasons for the changes appear to as much political as economic, and indeed a number of economists have criticized the Government for what they see as obvious electioneering. The reduction in certain taxes will certainly [...]

New Merger Rules For Romania

Despite the recent scandals in the Romanian political class 2015 looks for the economy at least being a year to celebrate. Economic activity in Romania is on the increase and therefore M&A business for Romanian law firms will increase. As though anticipating this last year the Romanian Competition Council (the “Council) revised its merger control rules [...]

Romanian Credit Market

One of the issues I face writing this blog is the question of what to choose this week.  Do I write based on the law firms experience of new cases in Romania the preceding week/months or do I write about new legislation proposed or otherwise.  What is interesting for some is not as riveting for others.  Such [...]