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» E&C Law Firm in Numbers

practicing for over 10 years

clients from over 35 countries

assisted over 150 foreign investors expand to Romania

office@romanianlawoffice.com

» Commercial Law
  • Setting up a company in Romania
  • Create a Romanian Joint-Stock company
  • Set up Branch in Romania
  • Types of Romanian Companies
  • Romanian representative office or company branch
  • Buying a Romanian Company
  • Permits & licenses
  • Incorporating a European Company
  • The Trade Register
  • Contract Law in Romania
  • Romanian Administrators
  • Liquidating a Company
  • International Contracts
  • Romanian Shelf Company
  • Authorized Physical Person
  • Individual Business Enterprise
» Real Estate Law
  • Intra-Community VAT Registration
  • Property Tax in Romania
  • The Romanian Land Registry
  • Purchasing real estate
  • Conditions for foreigners to buy Romanian properties
  • New conveyance VAT
  • The Recuperation of Properties 
» Taxation
  • VAT Registration in Romania
  • Deductibility Regulations
  • Avoid double taxation (e.g. Romania - UK)
  • Paying taxes
  • Repatriate profits
  • Anti-Crisis Measures
» Other
  • Commerce Business Permits
  • Open Romanian Bank Account
  • The Romanian Power of Attorney
  • Import-Export in Romania
  • Romanian Public Notaries
  • The Arbitration Court
  • About Legal Executors
  • Recognition of Foreign Judgments
  • Dismissal of employees
  • Non-Profit Organizations
  • Labor Law in Romania
  • A guide: Romanian Courts
  • Incentives for investments in Romania
  • Debt Collection in Romania
  • Trademark Registration
  • Trial Phases in Romania
  • About Romanian Lawyers
The Romanian Power of Attorney

A Romanian Power of Attorney has the same basic concept as one in the Western legislations: a document empowering someone else to handle a certain task on behalf of another person/company.

In order to be valid, the Power of Attorney must contain certain elements, respectively: identification data of the mandator and mandatary, the respective task to be completed, the document’s date. In certain cases the POA must be certified by a Public Notary.

The Power of Attorney must only be signed by the mandator to be represented in certain situations, therefore the presence of the mandator in front of the Notary is not required. For instance, a Power of Attorney can be signed by a Public Notary abroad then sent to Romania.
Per the Romanian legislation there can be three types of Power of Attorneys according to the type of task:

1. General POA – The mandatary is empowered to handle all the mandator’s activities. Usually this type of Power of Attorney is given when the total administration of one’s patrimony/business is required.
2. Special POA – The mandatary is empowered to act in behalf of the mandator in certain determined operations, such as administering of a real estate property, purchasing certain materials etc.
3. POA given for a single operation – The mandatary is empowered to represent

the mandator during a sole operation foreseen in the POA, for example purchasing a real estate property.

As examples, a Power of Attorney can be given for the following operations: general administration, administration of a property, company formation in Romania, administration of a Romanian company, constituting a mortgage, sale/purchase of an apartment etc.

Power of Attorneys given abroad
Power of Attorneys given abroad for operations taking place in Romania will have to be certified by a local Public Notary and apostilled (apostille of the Hague Convention) if the respective country is a member of the Hague Convention. However the certification in certain countries does not have to include apostillation (this procedure was simplified through billateral agreements). As examples we mention France, Poland, Russia, Bulgaria, Spain etc.

Power of Attorney Termination
The Power of Attorney ceases to produce effects in the following situations:
1. Expiration of the specified duration period;
2. Annulment by the mandator;
3. Renunciation by the mandatary;
4. Death of mandator or certain limitations of the person’s capacity to act;
5. Death of mandatary or certain limitations of the person’s capacity to act;
6. Dissolvement of the legal entity mandatary or mandator.

 

               

 

 

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» Company Formation

We have exceeded 150 incorporations of Romanian companies having foreign shareholder structures. We offer complete legal assistance for any type of Romanian company formation including Romanian SRL (LLC) or Joint-Stock (SA) registration,  office address and general advice for matters related to taxation, Labor regulations as well as on-going assistance after the formation of the company.

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» Expanding to Romania
Our business lawyers have assisted a large number of foreign companies expanding to Romania.  Doing business in Romania implies having the appropriate legal background to set up the most advantageous structure, safeguard the client's activities and maintain a healthy relationship with the Romanian authorities. We have years of experience "translating" Romania's business world to the foreign investor and we are ready to use this experience in your benefit.

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