The Romanian Parliament adopted Law no. 102 of July 2, 2020 for amending and supplementing the Companies Law no. 31/1990, published in the Official Gazette of Romania, Part I, no. 583 of July 2, 2020.
The amendments of the Companies Law no. 31/1990 have as consequence the simplification of the procedures necessary for the exercise of companies’ activities, as follows:
- An individual or a company can have the quality of being a sole shareholder in several limited liability companies;
A first important amendment to Law no. 31/1990 on companies is the repeal of Article 14 which stipulates the prohibition for an individual or a company to hold the status of sole shareholder in more than one limited liability company, as well as the prohibition for a limited liability company to have as sole shareholder in another limited liability company which contains a single person.
Therefore, following the repeal of this text of law, an individual or a company can have the quality of being a sole shareholder in an unlimited number of limited liability company.
- The elimination of the obligation to submit the private statement regarding the holding of the quality of sole shareholder in a single limited liability company;
According to the new amendments, at the moment of the authentication or certification of the article of incorporation, the private statement regarding the holding of the quality of sole shareholder in a single limited liability company will no longer be presented.
- Several companies may operate in the same space, without the need for delimitation on the rooms and without the need for a declaration of non-overlap.
Thus, following the abrogation of art. 17 para. (4), the new law allows the operation of several companies in the same building, regardless of the number of rooms.
For example, starting with 5 of July 2020, ten (10) companies can operate in a studio, without any restrictions on the number of rooms related to the building.
- It is no longer necessary to present a certificate issued by the Fiscal Authorities
Thus, at the registration of the company and at the change of the registered office, only the document attesting the right of use over the space will be presented at the Trade Register Office.
As a result of legislative changes, it is no longer necessary to prove that no other registered offices are logged in that space, nor will it be necessary to give a private statement, in authentic form, on compliance with the conditions relating to the registered office.
- Neighbors’ consent is no longer required if there is no activity at the registered office
Regarding the Approval issued by the Owners’ Association, which was required in the case of establishment headquarters’ in a residential building (blocks with several apartments), the new law also eliminates the prohibition of obtaining it, if the administrator issues a private statement that he does not perform activities at the registered office.
TEAM BCHLAW
BUCHAREST 20/07/2020