Țuca Zbârcea & Asociații | Better Business in Romania

Better Business in Romania

In previous editions of this booklet, we were welcoming you with enthusiastic presentations of the transformations Romania’s economy went through after the fall of Communism, with legitimate hopes flowing...

In previous editions of this booklet, we were welcoming you with enthusiastic presentations of the transformations Romania’s economy went through after the fall of Communism, with legitimate hopes flowing from Romania’s access onto the EU, with the optimism of the figures measuring foreign investments on the local market and, generally, with the trust that the entire business environment in Romania has all chances of becoming better: as any other emerging market, ours cannot (could not) other than grow..

Chapters
01

Introduction

With the World Health Organization (WHO) announcing a COVID-19 global pandemic xin March 2020, the Romanian Government was quick to impose restrictions...
02

Corporate

What are the main legal enactments governing business activities in Romania?
03

Real Estate

The main sources of real estate law are: (i) the Romanian Constitution; (ii) the New Civil Code; (iii) the Fiscal Code; (iv) the Cadastral Law No. 7/1996; (v) Law No. 50/1991 on the authorisation of construction works;
04

Creditor & Debtor Disputes

The Romanian judiciary system consists of four levels of courts: local courts, tribunals, courts of appeal and the High Court of Cassation and Justice, which is Romania’s Supreme Court.
04

Employment

OVERVIEW   1. What is the legal framework regulating employment in Romania?   Romania is a civil law jurisdiction and the core employment regulation is the Labour Code. Besides the Labour...
06

Public Contracts

The 2004 European legal framework on public procurement and concessions was reviewed by the representatives of the European Commission and the findings and conclusions of the review were comprised in a report called the Monti Report.
07

Competition

Competition Law No. 21/1996 (Competition Law) stands at the core of competition legislation in Romania. The provisions on competition set forth in Articles 101 and 102 of the Treaty on the Functioning of the European Union (Treaty/TFEU) also apply directly.
08

Energy

The power sector is regulated mainly by Title I of the Power and Gas Law No. 123/2012 (Energy Law). 1 The Energy Law implements Directive 2009/72/EC of the European Parliament and of the Council of 13 July 2009
09

Capital Market

The main local legal enactments governing capital markets in Romania and setting forth the key principles for the organisation and functioning of the capital markets and their key players and participants
10

Financial Institutions & Security Interests

The activity of credit institutions is regulated by Government Emergency Ordinance No. 99/2006 (Banking Law), which is aligned to the Capital Requirements Directive (CRD) IV package.
11

Intellectual Property

Intellectual property rights are protected in Romania by various legal enactments applying specifically to each category of IP rights: patents, utility models, trademarks and geographic indications, industrial designs, topographies of semiconductor products, copyrights.
12

Pharmaceuticals

Law No. 95/2006 on the healthcare system reform - Title XVIII (Health Law) is the main regulation in this field while detailed substantive provisions are included in secondary legislation issued by the Government
13

Personal Data Protection

In consideration of the so-called GDPR “opening clauses”, Romania has enacted implementation legislation, namely
14

Environment

In anticipation of Romania’s accession to the European Union, Romanian authorities made serious efforts in order to transpose the principles of EU Directives in the field of environmental law and
15

Product Liability & Consumer Contracts

The Consumer Code is the main legal enactment regulating product liability and consumer rights; it deals inter alia with consumers’ access to goods and services, consumers’ rights, producers’ obligations, as well as the general rules applicable to non-governmental organisations and product security.
16

Insolvency

LEGISLATION   1. What are the main regulations regarding insolvency and liquidation in Romania?   Different insolvency legal frameworks are in place for companies, financial institutions...
17

Criminal Law

The Criminal Code (Articles 135 to 151) provides for the possibility of directly indicting the legal entity, which may be held liable for the actions of any of its bodies or representatives acting during its business, in its interest and/or on its behalf.
18

Tax

Romanian tax matters are mainly covered by Law No. 227/2015 regarding the Tax Code, as further amended and supplemented, and by Government Decision No. 1/2016 approving the Norms for the application of the Tax Code, as further amended and supplemented. Moreover, certain provisions from the Anti-Tax Avoidance Directive

Acest site folosește cookie-uri. Află in sectiunea Politica de Cookies mai multe despre cookie-uri.