NEWSFLASH - Wind of change in Romanian energy law
NEWSFLASH - Wind of change in Romanian energy law After several months of public debate and numerous amendments and revisions, Emergency Ordinance no. 143/2021 ("GEO 143") entered into force on the last day of the previous year. It brings significant positive changes to the Romanian energy legislation, including the end of a ten-year-old block on electricity transactions outside centralized markets Please find more details here.
Categories of shares with different voting rights under discussion
On 8.12.2021 a draft law aimed at significantly amending and completing Company Law No. 31/1990 (hereinafter referred to as “the Law“) was submitted to the Romanian Senate. According to this draft law, a new type of shares is introduced, which could result in shareholders of Romanian joint stock companies and LLCs being granted different rights.
Do‘s and Don’ts for real estate purchase agreements
We have recently noticed a strong tendency of extending existing investments. While the majority of investors decides to purchase plots of land for establishing or extending existing properties, the number of investors seeking the purchase of completed properties consisting of plots of land and buildings erected by the landowner at the request (and according to the specifications) of the investor increases.
Higher consumer protection in connection with the sale of goods
On 28.12.2021 Romania surprised the public with the implementation of two EU directives which, starting January 22, are supposed to create unitary purchase conditions in all member states.
Fiscal risks implied by cross-border activities
The Covid pandemic has led to a strong development of the electronic communication and thus to extended possibilities to carry out activities remotely.
NEWSFLASH - New Romanian minimum wage in force – along with a maximum period for granting minimum wages
As every year, the Romanian minimum has been raised also in 2022. According to the Government Decision 1.071/ 2021, beginning with 01.01.2022, it amounts to 2.550,00 RON (ca.515,00 EUR),