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How to Start a General Partnership Company in Romania

Question: Do we need to write a statute when opening a general partnership company in Romania?

Answer: The General Partnership Company is established in Romania on the basis of articles of incorporation, but the law doesn’t enforce you to write a statute, also it doesn’t forbid the associates to write one if they want to. If you do wish to draw up this document, our Romanian lawyers can assist.

According to Article 7 from Law 31/1991, the most important details that must be mentioned in the articles of incorporation are the following:

  1. The personal data of shareholders, office address (main headquarters) and secondary office address;
  2.  Social Shares (social capital);
  3.  Duration of the future company in Romania;
  4.  Modality of liquidation.

You must know that, when founding a General Partnership Company Romania, the articles of incorporation must be in authentic form. Our Romanian lawyers can help you establish a general partnership or even a micro company.

Question: How may shareholders are needed for starting a General Partnership Company in Romania? Also, what is their liablity?

Answer: As compared to other types of Romanian companies, the General Partnership Company must have at least two shareholders, who have unlimited liability towards the company’s obligations. We also mention that this type of company can be founded by natural persons and legal persons as well.

For the natural person, there are two categories of association. The first category is represented by the family companies which are formed by members of the same family or even groups of close friends. The second category includes individuals who work in the same guild or professional body.

If liability is a concern, our lawyers in Romania can help clarify the legal provisions in this respect.

Question: Please let me know what capital we need to register our General Partnership Company in Romania.

Answer: If you are asking yourself what registered capital you need to found a General Partnership Company, then you must know that the law doesn’t enforce you to set a specific amount. Associates have the freedom to decide what registered capital their company needs. Although you have to take into account the fact that a symbolic capital could question the company’s chargeability and the associates’ credibility. Do not forget that the company is enforced to pay the subscribed capital when registering. The symbolic capital is met in other countries too, such as Portugal, where you can open an LLC with EUR1 as share caputal.

Our team of lawyers in Romania can answer any other questions related to capital or opening a corporate bank account. Reach out to us for details.

Question: Do we need to register an offie when starting a General Partnership Company in Romania? How can your lawyers in Romania help us?

Answer: When establishing a company you must prove that your activity takes place in the registered office you declared to authorities. You can use your private home as a registered office, but if it is located in an apartment building you must obtain the approval of owners association or tenants association and the property certificate. In case you rented a place you have to possess the renting contract.

Having a registered office is mandatory, however, at our Romanian law firm we specialize in prroviding many different solutions, including those related to a virtual office. You can explore this option and decide if it suits the needs of your partnership.

We also assist foreign nationals interested in buying property in Romania. While the rules for property purchase are largely the same as for Romanian citizens, foreign nationals do need to apply for a fiscal identification number with the local authorities in order to be able to conclude the property purchase. Our team will give you more details according to the type of property you are interested in buying.

Individuals who need different services can rely on our assistance if they have questions about individual taxation, inheritance, properties, as well as divorce in Romania. We assist former spouses who are looking to file for divorce and need information on how to file the documents with the competent court, as well as how to sort issues concerning jointly owned property.

These are the main aspects which you must consider when establishing a General Partnership Company Romania. The experts at our law firm in Romania can help you register a General Partnership Company with the Trade Register at your convenience. For a free case consultation, please call us now!