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Debureaucratization of the procedures for setting up new companies

The external macroeconomic dynamics at the European Union level, implicitly, influence the development of the legal framework in Romania. In this sense, it is desired to increase the accessibility to the entrepreneurial environment. According to the World Bank, Romania ranks 55 out of 190 in the ease of doing business rankings, moving away from the first place, considering that in 2017 it occupied the 45th position in the same top. To improve this situation, the Chamber of Deputies adopted, on December 18, 2019, Draft Law no. 440/2017, with concrete changes on the process of setting up new companies.

Romania’s position in the ease of doing business rankings

* – estimare

„Today we obtained a great victory for the Romanian entrepreneurs.

We eliminated from the bureaucracy of setting up companies. The first bill we wrote, together with Cristina Pruna, has just been voted and has become law.” – Claudiu Nasui, USR representative

The draft law that aims to debureaucratize the process of setting up companies includes the following changes:

  1.  We have eliminated two of the unnecessary papers from the registration process.
  2. We have eliminated the need for agreement from neighbors in order to have a registered office in an apartment where there is no commercial activity. This also helps those with liberal professions, who just need an official correspondence address in order to work “officially”.
  3. We have eliminated the limitation of the Romanians to have a single company in which to be sole shareholders. And, implicitly, all the documents to which they are subjected when they need to set up another company and added either another company in the shareholding or a relative with 0.001% of the shares.
  4. Eliminates the limitation of having only one company per room, which has affected the real estate market. 

The draft law that was also proposed in 2018, being adopted by the Chamber of Deputies, is following the promulgation process and will have to be published in the Official Monitor intervening with amendments on the Companies Law 31/1990.

Reducing the time needed for registration

Simplifying the registration of the office

Elimination of the single shareholder limit

Elimination of the company limit per room

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