The town of Sebes lies in the central part of Romania, in the south-west of Transylvania, in the district of Alba. Sebes lies at a distance of 15 km to Alba-Iulia, 55 km to Sibiu and 63 km to Deva, near the inflow of the Sebes river into the Mures river.
Romania’s economic path stands for solid proof that our country is currently a reliable partner for profit-oriented worldwide entrepreneurs to take upon.
In 2020 Romania GDP has registered a decrease of 3.9%, a very good result given that the initial forecasts, at the beginning of the crisis, indicated a fall of 5% (IMF), or even 7-8% (banks and analysists). Thus, Romania's GDP increased in Q4 vs Q3 with 5.3%.
Individuals and legal entities may freely enter into partnerships for business developing in Romania and set up companies. There are no specific investment approvals required for setting up a business in Romania. The procedure requires fulfilling certain legal formalities such as getting to register with the Romanian Trade Register Office and the Fiscal Administration.
Limited Liability Company (SRL) – The shareholder liability is limited to the amount subscribed as participation to the company’s share capital.
The share capital of an SRL must be of at least RON 200 (approximately EUR 45), divided into shares with a minimum face value of RON 10 each.
A SRL may be formed by a minimum of one shareholder and a maximum of 50 (fifty). These shareholders may include individuals and/or legal entities. A SRL is managed by one or more administrators who may have full or limited powers and who may be Romanian or foreign nationals.
There is no distinction between companies operating with or without foreign share capital.
Joint Stock Company (SA) – The minimum statutory capital for a joint stock company shall be RON 90,000.
Shares must be held by a minimum of 2 (two) shareholders, individuals and/or legal entities (there is no maximum limit) and can be open to either public or private participation.
The minimum face value of one share shall be RON 0.1.
Partnership as a legal form is seldom used in Romania. The three kinds of partnerships provided by law that lead to the creation of an entity with legal personality are:
- general partnership
- limited partnership
- partnership limited by shares
The partners in a general partnership and the active partners in a limited partnerships have unlimited liability with respect to the obligations of the partnership toward third parties. Among themselves, each partner is individually and collectively responsible for these obligations.
The most frequently used types of companies are the Limited Liability Company (SRL) and the Joint Stock Company (SA).
Important to know: each legal entity registered in the Trade Register must identify and register its ultimate beneficial owner. According to Law 108/2020, for companies which have shareholder(s) a/only natural person(s), there is no obligation to register the ultimate beneficial owner within the Trade Register.
Kronospan furniture clusters allow companies to benefit not only by sourcing high-quality material for their needs but also by using the existing industrial infrastructure, pre-investment support and easy access to the vast markets of EU and USA.