How can a request for opening the insolvency proceeding in Romania be rejected when it is made by the creditor to force the debtor to pay the debt?
The procedure for opening the insolvency proceedings against a debtor is regulated by the provisions of the Romanian Insolvency Law no. 85/2014. There are many situations when a creditor has made such a request in bad faith only to force his debtor to pay him a debt that is not recognized. However, it should be …
The legal status of digital nomads in Romania
On January 17, 2022, Romanian Law no. 22/2022 entered into force for amending and supplementing the Emergency Ordinance no. 194/2002 regarding the status of foreigners in Romania, a regulation that outlines the legal status of the concept of digital nomads in Romania. This regulation represents a considerable legal novelty given the changes of work conditions in …
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How can you carry out an IT and software development activity in Romania?
The IT industry in Romania has experienced an impressive development, especially in recent years, with more and more professionals working in this field. Anyone who wants to work in this field can be hired by an IT company, can conclude a collaboration agreement, or even start an IT business in Romania. The first step is …
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Selective aspects regarding cryptocurrency, blockchain technology and smart contracts
Given the fact that the number of virtual currency transactions, as well as digital wallet holders in Romania is constantly growing, we believe that a presentation of the topics related to virtual currency transactions, the blockchain technology and the conclusion of smart contracts would be helpful. Pavel, Mărgărit and Associates recommend contacting a specialized lawyer in cryptocurrency for legal representation in transactions involving virtual currency, as well as legal representation when …
How do you sell or buy a company in Romania?
The selling or buying a company in Romania are strategies that are often applied in practice, being recognized for the multitude of benefits for the shareholders, both parties taking the advantages of it.
Employment Agreement /Contract versus Collaboration Agreement /Contract in Romania
Whenever you need a service to be provided as an independent activity, you can choose to conclude a collaboration contract/agreement despite of an individual employment agreement/contract in Romania, regarding the tax differences between those two. The law firm Pavel, Mărgărit and Associates recommends using a lawyer specialized in labor and tax law who can draft the contract/agreement/contractual clauses so that the …
What are the conditions for engaging joint liability of the administrator/ director/ management bodies of a Romanian company?
One of the problems that the administrators/directors or the management bodies of a Romanian company may face is engaging joint liability for the outstanding payment obligations of the debtor company declared insolvent by tax inspection bodies which are part of National Authority of Fiscal Administration (ANAF).
Can we terminate a contract/agreement if our client enters in the insolvency procedure in Romania?
The termination of the ongoing contract/agreement at the date of the opening of the insolvency proceedings shall be of interest to each contracting party, whether creditor or debtor, professional bodies or not. Thus, according to the insolvency law, all ongoing contracts/agreements at the date of opening the insolvency proceedings are considered maintained, and all clauses …
What you need to know regarding Real Beneficiary Statement for Companies in Romania
Starting with April 30, 2021, the obligation to submit the Real Beneficiary Statement for the limited liability companies in Romania was reintroduced, and the term was extended until October 1, 2021.
Could opening an account on a social network using other people’s names lead to criminal charges?
In the context of technological development and the appearance of various social networks that are expanding and monopolizing our lives, the criminal phenomena has also increased accordingly to the development and improvement of various methods that are materialized in computer crimes in Romania. Pavel, Margarit and Associates Romanian Law Firm recommends addressing to a lawyer …