business in Romania

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Hammond, Minciu & Associates at BRCC’ event in London

Last week Nicholas S Hammond representing the Firm, attended two major business events in London, relating to Romania as well as visiting clients and contacts in London. He attended the British Romanian Chamber of Commerce “BRCC Dinner Gala” at Drapers Hall in the City of London, an event that gathered more than 100 people from different [...]

By | June 20th, 2017|Categories: Uncategorized|Tags: , , , , |0 Comments

Romanian Employment Regulations

Being an employer in any jurisdiction seems to become more complicated as time goes on. I was recently reminded of this when we were advising an international client of the Firm on employment issues in Romania. The Client wished to be fully compliant with Romanian law and practice. As it plants and offices [...]

Thoughts on the current Romanian Economy

Romania was a very different country when I came in 1990 to today. In fact, Romania has come not only a long way since 1990 but has come a further long way in the last twelve to eighteen months both in economic as well as political and social terms which I can attest [...]

Redundancy Revisited

Although Romania is going through a period of economic expansion there are still occasions where for a variety of reasons including economic reasons it is necessary for an employer to make employees redundant. This situation of redundancy is covered in the Romanian Labour Code. According to the Code, an employee maybe dismissed in the case [...]

Residence and Work permits for Non EU Citizens

With the increase of foreigners wishing to come to Romania and Europe to work we are ask regularly as to what is the position for non-EU citizens concerning work permits and residency. The position of the employment of Non-EU employees is governed in Romania by the provisions of EU Directive 2011/98/EU and Romanian government emergency [...]

What Tax Will You Pay on Company Incorporation

One of the current most challenging issues on the incorporation of a company in Romania is the immediate tax impact on the company and its profitability. The majority of Romanian companies were incorporated with the minimum capital of two hundred (200) RON. This means a minimum capital of approximately forty five (45) Euros. This is [...]

Contract Negotiating Romanian Style Part 2

The previous post dealt with contracting with Romanian private companies, and now I want to look at the position in relation to State companies.  Despite over 20 years of "capitalism" much of Romanian industry and resources are still in the hands of companies that are either Government owned or Government controlled.  Unless your business can [...]

Romania – Greece – Ukraine

Why the above headline. During a recent trip to London the question of Greece and Ukraine were raised by a number of people on the basis of what was the impact of the problems in Greece and Ukraine on the Romanian economy and business environment.  It was an aspect that whilst in relation to Greece we [...]

Can I use my usual contract?

There are in the main two types of foreign investors in the Romanian economy. Those who form a Romanian company and make a direct investment into Romania, and those who “invest” long distance in Romania and its market. By that I mean people who carry on business in Romania but do not have an office [...]

Influence Peddling under Romanian Law

One of the most frequent questions we are asked is regarding corruption and influence peddling in Romania and how this is dealt with under Romanian law. Unfortunately, Romania does figure in a number of corruption indices and in a high position. The question that is being asked is why, and how does it affect business. [...]