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A limited liability company is a corporation established by maximum 50 associates. The business relies upon the foundation documents. The registered capital of a limited liability company cannot be less than 200 RON. The registered share capital of a limited liability company is usually split into social parts/shares with a registered value of minimum 10 RON. The law forbids that the shares of these corporations to be involved for loans or other banking operations. Shares cannot be freely exchanged, making limited liability companies more or less like private companies in other countries.
Limited liability companies may very well be constituted by only one individual.
The law stipulates that resolutions are made by mainstream ballot in the General Meeting of the Shareholders (each share represents one vote). Decisions involving adjustments in the articles of association have to be accepted by all shareholders if these documents do not mention something else. Minimum one Manager is assigned in the articles of association contract, the same person who is responsible for the management of the company.
Nowadays most of the Romanian corporations, regardless of the nationality of their owners, are limited liability companies SRL.
In order to incorporate a Romanian Limited Liability Company there are required the following documents and information:
- the shareholders' personal information: full name, place and date of birth, residence and nationality;
- the general manager responsible with the management and running the company, individuals or legal persons;
- the company's name and registered office;
- the nature of the business in which the proposed company will be engaged, specifying the principal and secondary commercial activities;
- data regarding the percentage of profits and deficit for each associate/shareholder;
- the information referring to the subscribed registered capital by each shareholder, the number and nominal worth of shares, the number of shares subscribed to each shareholder for his/her part;
For any further details or information please do not hesitate to contact us.
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