Simplified rules for LLCs as well as for Commercial Register Procedures
The month of November brought two long-awaited amendments to the Law No. 31/1990 on companies, which are intended to further stimulate investments in the context of the difficult economic situation caused by the SARS-Cov-2 pandemic.
Rooftop PV systems can be erected by prosumers without any building permit
According to the new version of the law no. 50/1991 regarding the approval of construction works (“Construction Law“), amended on 11.01.2020, mounting PV systems on rooftops is possible again without any building permit. We have reported several times about the inconsistent course of the Romanian legislative body in this regard.
Privacy Shield invalidated – What next?
On the 16th of July 2020, The Court of Justice of the European Union (ECJ) invalidated the Privacy Shield. This could have a major direct impact on the business relationships between European companies and their US business partners in case personal data is transferred from the EU to the USA.
Capitalization – helping hand or double-edged sword?
After almost half a year of trying to limit the spread of the Coronavirus through restrictions, many companies are currently unable to expand their operations and pay the taxes due. This is often due to lack of cash flow, difficulties in collecting trade receivables, decline in revenues, etc.
"Teleworking & Work from Home" powered by STALFORT Legal. Tax. Audit. on 19.11.2020
"Teleworking & Work from Home" powered by STALFORT Legal. Tax. Audit. on 19.11.2020 On 19.11.2020, 15:00 Romanian time, Christian Weident will lead an online information event in German, on “Teleworking & Work from Home as part of the "AHK- Community Talks". Teleworking has become a well-known term in Romania since the outbreak of the coronavirus . Not only is teleworking regulated in its own law, it has also been the subject of more government action in the fight against the pandemic. The following important questions will be discussed both in general and in the context of the current lockdown measures: 1. How is teleworking regulated? How does it differ from “working from home”, and what is its significance in the working environment? 2. How is teleworking implemented? What paperwork and preparations are required? 3. How is the state aid for teleworking regulated? 4. What can be expected in the future and what do we expect from the legislators? A link to the event can be found here.
NEWSFLASH - Share Deals in Romania Simplified
NEWSFLASH - Share Deals in Romania Simplified On the 5th of November simplifications of the Companies’ Law 31/1990 came into force, which ease, among others, the transfer of shares to third parties (non-shareholders). In contrast to transfers among existing shareholders, the lengthy 2-step procedure for assignments to third parties took about 2 months. Now this procedure has been significantly shortened and adapted to the investors’ requirements, which is an answer to the voices from practicians over the past 10 years. Please find more details here.
STALFORT Legal. Tax. Audit. at econet- Symposium on "Energy Efficiency and Renewable Energy in Public Buildings"
STALFORT Legal. Tax. Audit. at econet- Symposium on "Energy Efficiency and Renewable Energy in Public Buildings" An online symposium on "Energy Efficiency and Renewable Energy in Public Buildings", organized by the econet platform of AHK Romania, will take place in Romania on 3rd of November 2020. The event is part of a German/ Romanian cooperation project and it’s aimed at Romanian and German companies interested in the development of bilateral economic relations in the field of energy efficiency of buildings. The goal of the event is to establish bilateral business relations and partnership between companies from the two countries which are active in the energy industry, as well as to promote German systems and products in this area on site. Laura Neacsu of STALFORT Legal. Tax. Audit. will give a presentation on the legal framework related to energy efficiency in public buildings. The agenda of the event and further information about the German companies can be found here.
Christian Weident leads breakout room discussion at Romanian Business Leaders conference
Christian Weident leads breakout room discussion at Romanian Business Leaders conference From the 27th to the 29th of October, the National Conference of the “Romanian Business Leaders” (RBL) will take place. RBL is a community of leading entrepreneurs and managers from Romania who pursue the common good beyond the interests of their companies, industries or sectors. The topic of this year's event is "Anti-fragility in a world full of crises". In various panels, issues of substantial interest to the economy will be discussed. During this event, Christian Weident will lead a breakout-room session with entrepreneurs on Oct. 28th on the question: "What legislative measures of labour law against crises do companies want?" The discussion takes place in Romanian and is reserved for members. A link to the event can be found here.
NEWSFLASH - Financial support for SME from external non-reimbursable funds
NEWSFLASH - Financial support for SME from external non-reimbursable funds Given the drastic economic effects of the current SARS-Cov-2 pandemic and the crucial role of small and medium enterprises (hereinafter “SME”) for the Romanian economy, the Romanian Government has issued the Emergency Ordinance no. 130/ 2020 (hereinafter “EO 130”), by which it sets the conditions for granting financial support for Romanian SMEs from external non-reimbursable funds. The financial support can be granted until 31.12.2020 at the latest. Please find more information here
Update of the Romanian trademark law
In December 2015, the Directive (EU) 2015/2436 to approximate the laws of the Member States relating to trade marks was adopted. According to the directive, the EU member states were supposed to implement it in their national legislation by 14.01.2019.