Business restructuring options in Romania: Spin offs

As the business environment is constantly changing at a high pace, the investors must be able to make the best-informed decision when it comes to investment or disinvestment decisions.

Current developments in labour law

In the current Romanian labour law, a number of relevant changes have occurred or are either expected or desirable. The following is a brief summary.

Commissioning of new buildings – when and how?

In practice, it often happens that developers/ investors plan the commissioning of new buildings very shortly after the completion of the construction works.

Dual quality ban also applicable in Romania

Starting 28.05.2022 companies must be very careful when marketing similarly packaged and labelled products in different EU Member States.

NEWSFLASH – Salary increase and new tax incentives for the food and agricultural industry as of 1 June

NEWSFLASH - Salary increase and new tax incentives for the food and agricultural industry as of 1 June

The Romanian Law 135/2022, which came into force on 20. May 2022, brings a salary increase and tax incentives for the agricultural and food sector as of 01. June 2022.

Please find more details here.

Enforcement on the basis of (promissory) notes vs. the general enforcement procedure

Although almost 100 years old, the Romanian Law No. 58/1934 on bills of exchange and promissory notes (Rom. Legea asupra cambiei și biletului la ordin) continues to be an attractive option for creditors in a hurry. In Romanian court practice, one finds it difficult to interpret the outdated wording in conjunction with subsequent laws – especially the meanwhile existing 5 consecutive versions of the Civil Procedure Code ("CPC").

Arbitration and Insolvency Friends or Foes

Business matters are very dynamic and require a high level of flexibility. For this very reason, arbitration procedures have been developed to provide a quick way for business people to settle disputes.

When and how are data breaches to be reported?

In mid-December, the European Data Protection Board (EDSA) adopted the Guidelines 01/ 2021 on examples of data breach notification (the "Guidelines").

Romania wants to become more attractive for “digital nomads“

On 14.01.2022, Law No. 22/2022 (hereinafter "the Law"), which introduces the concept of "digital nomad" in the Romanian legislation regarding foreigners, was published. This new category of foreigners is granted, under certain conditions, the right to temporary residence on the territory of Romania for the purpose of remote work for companies not established in Romania.

Conduct rules for combating money laundering

Unternehmen, die in Rumänien zu Umsatzsteuerzwecken registriert sind, können am Ende des Berichtszeitraums gemäß der bei der Steuerverwaltung ANAF eingereichten Umsatzsteuererklärung eine Erstattung ihres negativen USt-Saldos verlangen.