Romania

Romania

Establishes regulation to facilitate cross-border operations and mobility

23 Jul 2023

On 23 July 2023, Romania enacted Law No. 222/2023, introducing significant amendments to the Companies Law no. 31/1990 and Trade Registry Law No. 265/2022, aiming to facilitate cross-border mobility and establish clear regulations for cross-border operations. The law specifically addresses mergers involving Romanian and European companies, cross-border conversions without dissolution, and cross-border divisions among companies governed by different EU member states. Notably, the legislation streamlines procedures and formalities, exempts certain companies from expert assessments, and incorporates provisions for safeguarding the interests of employees, shareholders, and creditors. Additionally, the trade registry office, through its interconnection system, facilitates the exchange of documents and information. This includes making common draft terms of cross-border operations, required notices submitted to the trade registry, legal details of involved companies, trade registry submission information, measures taken for creditors', employees', and shareholders' rights, and relevant documents accessible on its website or online portal.

Nature of measure:
  • Facilitation
Type:
  • Treatment and operation (Capital transfer and FOREX, Operational conditions)
  • Promotion and facilitation (Investment facilitation )
Industry:
  • Not industry specific
Inward FDI:
No
Outward FDI:
No
Sources: