New regulations on the restructuring of companies with real estate property
About a year ago we reported on new regulations on mergers (fuziuni) and spin-offs (divizari) of companies with real estate property, where the transfer of ownership as a result of a merger or spin-off was supposed to be registered in the land register based on a ‘reorganisation certificate’. At the end of May, new regulations were introduced. Like the previous changes, the new provisions bring anything but clarity.
Legislative changes regarding the protection of business secrets
On 19th April 2019, Emergency Ordinance No. 25/2019 (“EO”) came into force, introducing a series of regulations to protect business secrets. In particular, it contains several practical measures that can be requested by holders of business secrets against the unlawful acquisition, use or disclosure of their business secrets.
Benefits and other changes in the tax field
In the last few months the Romanian Government has adopted changes in the tax field that are less astonishing than usual. But there are some changes that might be important in practice; we discuss them below.
Quarterly dividends – regulations and approach
The law Nr. 163/2018 has given companies the opportunity to distribute dividends quarterly. As this subject has been already tackled in an article from June 2018, we will clarify hereinafter important information disclosed by an ordinance , as well as practical details regarding the distribution of quarterly dividends.
Joint ventures in public procurement
For the joint implementation of projects in various fields, joint ventures ("JVs", ro. asociere în participaţiune) are established. We can see these particularly in the award of public contracts.
Current obstacles in the building permit process – a call for reform
The practice of the past few years has shown that the building permit process in Romania is becoming more and more formalistic and bureaucratic, which is hard to comprehend and to accept in today’s digital era.
The EU adapts copyright to the digital era
In 2016 Jean-Claude Juncker, president of the EU Commission, revealed the Commission’s plans to modernise the legislation on copyright within the European Union, as part of the Digital Single Market reform package.
Annual endorsement obligation for environmental permits currently off the table
Last summer, the Government of Romania obliged all beneficiaries of environmental permits to obtain annual endorsements for such permits to keep them valid. This regulation was introduced by Emergency Ordinance.
Regular rest periods: Regulations of the labour code
Working requires rest: this is embedded in the labour code by the Romanian legislative body. This article illustrates in more detail important Romanian regulations on working hours, night work, overtime and rest periods.
Can a manager be an employee?
To establish and run a company, setting up a management team is indispensable. In the case of private limited companies and most other forms of companies, managers (Rom. administratori) are to be appointed.