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This document outlines the various forms of business organizations that exist in Romania. It discusses the five main forms defined by Company Law no. 31/1990: limited liability company, joint stock company, general partnership, limited partnership, and limited partnership by shares. Approximately 98% of Romanian businesses are limited liability companies or joint stock companies. Investors typically prefer limited liability companies for small or medium businesses and joint stock companies for larger companies. For a company to become a legal entity, it must register with the Romanian Trade Register Office and complete certain legal formalities and procedures.
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- 1. Tema: The Romanian business environment Facultatea de Management, Inginerie Economic 樽n Agricultur i Dezvoltare Rural Nume si Prenume :Stroe Florian Grupa:8218 Profesor: asist. univ. Mihai Daniel Frumuelu
- 3. Company Law no. 31/1990, which has been modified several times since it came into force, allows and defines five forms of companies: This section outlines the various business organizations that exist in Romania and will provide you with the main characteristics of each of these forms of companies.
- 4. Limited liability company (Romanian: "Societate cu raspundere limitata", or abbreviated "S.R.L."); Joint stock company (Romanian: "Societate pe actiuni", or abbreviated "S.A."); General partnership (Romanian: "Societate in nume colectiv", or abbreviated "S.N.C."); Limited partnership (Romanian: "Societate in comandita simpla", or abbreviated "S.C.S."); Limited partnership by shares (Romanian: "Societate in comandita pe actiuni", or abbreviated "S.C.A.").
- 5. Approximately 98% of the businesses in Romania are conducted via limited liability companies (the most common legal form of company), or joint stock companies. Investors, either domestic or foreign, usually prefer a limited liability company when they decide to set up a small or a middle sized business in Romania, especially if the company will be managed by its shareholders, while the joint stock companies are usually, but not always, large companies with more widely dispersed ownership.
- 6. Irrespective of its legal form, a company becomes a legal entity upon its registration with the Romanian Trade Register Office, where certain legal formalities have to be followed, including a delegated judges decision and the granting of the fiscal code of the new company.