Question: What is the Romanian Trade Register and how does it work as a legal insitution?
Answer: The Romanian Trade Register is a public institution with legal personality, organized under the authority of the Ministry of Justice. Among the National Trade Register Office’s functions include: legal publicity, legal status and financial records of all businesses, economic and statistical information, commercial information, simplification of the procedures for registration and authorization for operation of companies, information and assistance.
The trade register offices are under the jurisdiction of the National Trade Register Office and, on the local level, they are affiliated to courthouses. The regional offices are compelled to communicate any registration or any other change related to this process within 15 days from the date of the alteration.
Question: What is the registration process of a company with the Romania Trade Register?
Answer: The companies are enlisted with the company register Romania and they are assigned a tax identification number/code (CIF/CUI). Before registration, the name of the company is checked in order to be sure that the denomination is available or not. Even if the company name is available, there should be suggested three different variants, in order of preference.
When a company develops business relationships with another one, it has the chance to verify online the solvency ratio and the legal status of the firm in question. Among details that can be inspected include the last-seven-years payment incidents with promissory notes and cheques, the judicial review of the company, financial data and liabilities.
Companies request registration with the Romanian Trade Register Office from the county where they have established the registered office. The company register Romania office must issue upon specific request copies of certificates concerning registrations operated and other adjacent papers, as well documents regarding the confirmation of company details. These papers and copies can also be sent by mail.
The process of company formation in Romania strongly involves the trade register interventions in order to guarantee a solid legal background able to function as a safe start-up for any business initiative.
Question: What kind of information can the Romanian Trade Regiser provide?
Answer: In accordance with Law no. 26/1990, the Romanian Trade Register contains information on the following: companies; national companies, autonomous administration, cooperative societies, cooperative, agricultural credit institutions, non-bank financial institutions, economic interest groups, European groups with business economic interests, commercial European companies, European cooperative societies, authorized persons, individual businesses, family businesses, and other natural and legal persons as expressly provided for by law (non-economic interest groups, European groups representing economic interests of a non-commercial nature, research and development institutes).
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