[BUYING AND SELLING REAL ESTATE IN ROMANIA]
196
4. Minimum Registered Capital The minimum share capital is RON 1. 5. Limited Liability The shareholders are liable for the obligations of the company up to a limit equal to the amount of their contributions to the company’s subscribed capital. ii. Romanian Joint-Stock Company – SA 1. Legal entity
board (two-tiered management).
The board of directors, as well as the supervisory board, must hold quarterly meetings. 2. Formation The main steps of the establishment of a joint- stock company are: a. Applying for and obtaining reservation of the joint-stock company’s trade name, b. Choosing a Registered Office, c. Drafting and submitting the
The minimum number of shareholders of an SA is two. An SA is more complex than an SRL. The supreme corporate body is still the general meeting of shareholders as in the case of an SRL. The management of a joint-stock company is carried out: (i) either by a director or a board of directors (one-tiered management) – the board of directors may delegate the management to one or more managers; (ii) or by a supervisory board and a management
joint-stock company’s constitutive documents to the Trade Registry, and
d. Subscribing
the
share capital. Timing: Once all of the documentation is available, incorporation is completed within three (3) business days as of the filing of the registration with the Trade Registry so long as no issues are identified, or additional documentation required.
ILN Real Estate Group – Buying and Selling Real Estate Series
Made with FlippingBook - professional solution for displaying marketing and sales documents online