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- Setting up a company in Romania
- Create a Romanian Joint-Stock company
- Types of Romanian Companies
- Romanian representative office or company branch
- Registering a Romanian Micro-Company
- 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
- 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
- New Minimum Corporate Tax
- Deductibility Regulations
- Avoid double taxation (e.g. Romania - UK)
- Paying taxes
- Repatriate profits
- Anti-Crisis Measures
- 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
Per the understanding of the Romanian law, a foreign judgment contains rulings
emitted by the Courts, Public Notaries or any other competent authority of a
State.
Foreign judgments are fully recognized in Romania, if they refer to the civil
statute of citizens of the respective State or, if emitted by a third State,
were firstly recognized by the citizen’s State.
Decisions related to trials other than the ones related to the civil statute of
citizen can also be recognized in Romania if they cumulatively fulfill the
following conditions:
a) The decision is final, per the law of the State where is has been emitted;
b) The emitting Court had been legally competent to decide in the trial;
c) There is reciprocity between the effects of foreign judgments between Romania
and the respective State.
The recognition of the foreign judgment can be denied in any of the following
cases:
- the judgment is the result of a fraudulent procedure;
- the judgment breaches the Romanian public order or does not respect
dispositions referring to the exclusive competence of the Romanian Courts;
- the trial has already been solved through a decision, even not final, of Romanian Courts or are currently being judged by a Romania Court.
The request for recognition can be resolved in a
direct manner by the tribunal where the person/company contesting the
recognition is domiciled/headquartered. The recognition request can also be
resolved in an indirect manner, by the Court judging another trial, in the
course of which the specific exception is raised, founded on the existing
decision of the foreign Court.
Foreign judgments which are not willingly respected can be executed on Romanian
territory, on the basis of the approval from the County Tribunal on request made
by the person having interest in the proceedings. There are however specific
conditions:
- the judgment can be forcefully executed per the ruling Court;
- the right to request forceful execution is not prescribed as per the Romanian
law.
If the judgment is emitted by a Court of an EU country, there is no procedure
required for its recognition in matters of civil or commercial law and if no
contestation is made by the party.
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.
