[BUYING AND SELLING REAL ESTATE IN ROMANIA]
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No restrictions on citizenship or residency apply for directors or shareholders.
(approximately EUR 250). 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
2. Formation
The main steps for the establishment of a SRL are: a. Applying for and obtaining reservation of the SRL’s trade name, b. Choosing a Registered Office, c. Drafting and submitting the SRL’s constitutive documents to the Trade Registry, and d. Subscribing the share capital. A SRL may also be incorporated by a sole shareholder even if: (i) this shareholder is sole shareholder in another company; or (ii) the sole shareholder is a legal entity which, in turn, has a sole shareholder. Timing: In principle, after all documentation is submitted, incorporation is completed within three (3) business days as of the filing of the registration with the Trade Registry (if no other issues arise and no additional documents are requested).
Company – SA 1. Legal entity
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 board (two-tiered management).
3. Costs of Formation
The administrative fees are approximately RON 1,200
ILN Real Estate Group – Buying and Selling Real Estate Series
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