Harmonization of Procedures in Romania with the Regulations of the EU Member States on the Limited Liability Company

Abstract

The latest legislative amendments to Companies Law no. 31/1990 are expected to be well received by the business community, being described by the legislator, among others, as a relaxation of the conditions for registration and operation of the Limited Liability Company. Thus, significant changes concern the elimination of the minimum value of the share capital for this type of company, as well as the emphasis of the new provisions on the will of the shareholders regarding the transfer of shares, by removing the term of opposability to transfer provided in favour of third parties. Without claiming a thorough analysis of the matter, the article aims to highlight the most important aspects of these legislative changes.

Keywords

• limited liability company
• romanian companies law no. 31/1990
• share capital
• transfer of shares