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Question: What are the articles of association needed to open a Partnership Limited by Shares in Romania?
Answer: The Romanian Partnership Limited by Shares is established under a company contract and statute that can be completed as a single register, called articles of association. In the articles of incorporation, the main features which must be mentioned are:
- the personal information of the shareholders;
- the company’s name and its registered office;
- its profile, specifying the main and secondary commercial activities and other details regarding the associates.
Investors who need assistance to draw up the documents can reach out to our lawyers in Romania.
Question: How can I establish a partnership limited by shares in Romania, given the fact that we are a group of shareholders who want to be active partners?
Answer: There are two possibilities to establish a Romanian partnership limited by shares.
First method involves two types of shareholders: active partners who have unlimited and joint liability for enterprise obligations and silent partners, who have limited responsibility within the limits of paid capital. In this case, it is mandatory to introduce a contribution of capital from at least two shareholders. This is a commonly used method and our Romanian lawyers can give you more details.
The second method to establish a Romanian partnership limited by shares, by public subscription, implies an offer made to persons who are interested in an investment.
Question: What are the differences between a partnership limited by shares and a joint-stock company opened in Romania? Which one do your lawyers in Romania reccomend?
Answer: The Romanian Partnership Limited by Shares differs from the joint-stock companies only in the unlimited and joint liability ,for enterprise obligations, which active partners have. Our lawyers in Romania can help you open a partnership limited by shares or a joint stock company. They can also help you obtain a Romania VAT number for your new company.
We advise investors to make the decision based on their business objectives and target for growth. There is no one-size fits all, however, our Romanian lawyers can assist those investors who need counsel regarding these two business forms.
Question: What is the registered capital for starting a Romanian partnership limited by shares. Also, do we need a registed office for this type of company?
Answer: The minimum amount of registered capital for establishing this type of company in Romania is 90.000 lei, around 25.000 euro. You cannot establish a limited joint-stock company with a registered capital less than 25000 euro.
Our attorneys in Romania can provide details for the share capital for various business forms.
When establishing a company you must prove that your activity takes place in the registered office you declared to the 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. The experts at our Romanian law firm can also reccomend a different option: using a virtual office; this is an alternative that offers most of the advantages of the traditional office space, with different, lower costs in most cases.
Are you interested in buying a property or buying land in Romania? Our lawyers can give you complete details about the regime that applies to foreign nationals according to nationality (EU/EEA vs. third-country nationals), as well as details about the relevant purchase steps, including the mandatory submissions with the Romanian fiscal and cadastre authorities.
You can also reach out to us if you are looking for different legal services, such as those for divorce in Romania. While it is not mandatory to work with a lawyer, this choice is highly advisable especially if the divorce is not an amicable one. Our attorney will be able to represent your best interests in terms of property division and/or child visitation rights, if this applies in your case.
These are guidelines which you should take into consideration when establishing a partnership limited by shares Romania. Our law firm in Romania has experienced lawyers in Bucharest who can help you register a partnership limited by shares company with the Trade Register at any time. Call us now for a free consultation.