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),
Implementation of the Romanian e-invoicing system
Starting with 7th of October 2021, as a result of the Emergency Government Ordinance no. 120/2021, a new electronic invoicing system managed and supervised by the Ministry of Finance has been implemented in Romania.
Energy efficiency and power generation at the place of consumption – Keys to competitiveness
Saving money and time and protecting the environment – these are the key factors that end users need to take into account when assessing new energy products and services.
Shorter time frames and less bureaucratic obstacles in award procedures
On 27.08.2021, the Government Ordinance No. 3/ 2021 ("Ordinance") for amending and supplementing certain legal regulations in public procurement law was published in the Romanian Official Gazette. The Ordinance changes, respectively supplements the primary procurement law.
Employment: Update for the fall
In October, Romania introduced certain practice-oriented changes of the employment legislation. The most important legal sources were the Emergency Ordinance (“EO”) No. 110,111, and 117/2021. We summarize below the important new regulations
Real estate investments in Romania by EU citizens and legal persons
The acquisition of land by EU citizens and EU legal persons was regulated anew by Law no. 312/ 2005 (the “Law”) when Romania joined the European Union on 01.01.2007.