Limited Liability Company (LLC) is the most widespread form of business activity in Romania due to the advantages it presents: social obligations are guaranteed by the social patrimony, the associates answer only within the limit of the subscribed share capital, established by the associates, compliant with the minimum ceiling provided by the law (200 Ron).

Advantages of a LLC
● LLCs are entities with legal personality that can carry out any kind of activity, except those organized and regulated by special laws, as well as those for which the prohibited CAEN codes are regulated;
● The main object of activity is a single CAEN code, but the secondary object of activity can be passed with several codes;
● Disposal or sale procedures are free of complications;
● Minimum share capital for the establishment of an LLC is only 200 lei;
● Can have one or more associates, Romanians or other nationalities;
● The responsibility of administrators is limited to the amount of the share capital.

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A Joint Stock Company (S.A.) is a complex and very widespread form of organization. In order to be able to register a joint-stock company, you require a minimum of two shareholders and a minimum share capital of 25,000 EURO. The share capital of a joint stock company is divided into shares whose value can not fall below 0.1 RON. It can be managed by one or more administrators.

Advantages of setting up an joint stock company (S.A.)
● The joint stock company can be formed with at least two associates - natural or legal persons, Romanian or foreign citizens, who decide to associate in order to carry out commercial activities;
● Associates can easily give up on their status held within the company by simply selling the shares;
● Company of shares is a capital-centric company;
● Provides the ability to run a wide range of activities, in contrast to other forms of registration.

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An Authorized Individual (AFP) is the simplest form under which an individual can independently conduct economic activities. The AFP has no legal personality and is strictly related to the individual's authorization for that field for which he/she demonstrates their training and professional experience. The AFP holder may simultaneously hold the status of associate of a legal entity. The main activity is represented by a single main CAEN code, to which another maximum of 4 CAEN codes can be added.

Advantages of an AFP
● The setup procedure is relatively simple and involves low costs;
● Administration costs are lower than for an LLC;
● AFP does not legally require an accountant, as accounting can be kept in the simple version;
● The number of tax declarations to be filed is low;
● AFPs have the right to employ third parties with an individual employment contract.

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An Individual Enterprise (I.I.) is an economic enterprise without legal personality, organized by an individual entrepreneur, through which it can carry out any kind of activity, except for those organized and regulated by special laws. The main activity is represented by a single CAEN code, to which another 9 secondary may be added. Patrimonial responsibility is with the entire patrimony of the natural person holding it.

The advantages of setting up an IE:
● It is a simple form of organization. Both setting up and the dissolution involves simplified procedures;
● For registration of the Headquarters a loan contract with a third person is sufficient;
● I.I. has immediate access to the amounts resulting from the commercial activities provided, and the revenues and expenses are distributed to the members according to the participation quota;
● The individual enterprise can have employees for the authorized activity;
● Accounting is done in the simplified version, and the number of tax returns to be submitted is low.

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A Familial Enterprise (FE) The economic enterprise without legal personality, organized by an entrepreneur with two or more members of his family.
Members of an FI may be simultaneously holders of individual enterprises (except its representative), but also employees of a third person, who operates both in the same field and in a different field of activity different from that in which FI does.
The first step to establishing a familial enterprise is to conclude an agreement between members and to appoint a representative of the family enterprise, empowered by a special power of attorney to manage the interests of the family enterprise. Both the formation agreement and the power of attorney must be signed in writing. The family enterprise can not hire third parties with a labor contract, and the patrimonial liability is with the entire patrimony of the natural person.

Advantages of setting up an FE:
● It is a simple form of organization, with low start-up and administration costs and simplified procedures for setting up / dissolution;
● FE has immediate access to the amounts resulting from the commercial activities provided, and the revenues and expenses are distributed to the members, according to the participation quota.

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An association represents the legal expression of a partnership of at least 3 persons (Romanian or foreign) who, on the basis of an agreement, jointly and without the right to restitute their material contribution, knowledge or contribution to work, to carry out activities in the general interest , community or, as the case may be, in their personal non-patrimonial interest.

Depending on the purpose of setting up the Association, there are several categories: Owners Associations, Cultural Associations, Educational, Humanitarian, Sports, Medical, Entrepreneurial, etc.

The foundation is made up of one or more persons who, on the basis of a legal act, constitute a permanently and irrevocably affected patrimony, the achievement of a general interest or, where appropriate, community interest.

The initial foundation of the association or foundation must include assets in kind or in cash, with a total value of at least 100 times the gross minimum wage of the association at the time of foundation. Exceptions are made by associations whose exclusive purpose is to carry out fundraising operations to be made available to other associations or foundations, in which case the initial patrimony may have a total value of at least 20 times the gross minimum wage in the economy.

Foundations are different from associations in terms of the objectives pursued: foundations can never be in the interest, be they non-patrimonial, of their founders.

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Establishing a registered office may sometimes prolong the process of setting up a company, due to the particularities and the necessary insights. If you do not have a registered office or the costs associated with it are burdensome, you have the opportunity to address a lawyer for hosting the company you own.

The headquarters service involves the conclusion of a legal assistance contract between your company and the law firm, which specifies the establishment of the registered office and the period during which the company will have its headquarters hosted at the law firm.

Benefits of a registered office at the law firm:
● Elimination of expenses related to the rent and maintenance of space for the registered office;
● It is not necessary to obtain the consent of the association of owners or neighbors;
● It is not necessary to check the uniqueness of the headquarters (made by the Trade Registry);
● Significant reduction in the company's start-up time.

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The dissolution of the company is, like setting up, a stage in the "life" of a company and occurs as a consequence of the will of the associates (voluntary dissolution) or of external factors. The dissolution of the company prepares the stage of liquidation of the patrimony.

The dissolution of commercial companies takes place, according to Law no. 31/1990, in several situations, including:
● The passage of time set as the duration of the company;
● The impossibility of achieving the object of activity of the company;
● Declaring the company's nullity;
● Decision of the General Assembly of the Associates (GMS);
● Court decision, at the request of any associate, for good reasons, which jeopardize the proper functioning of the company;
● Bankruptcy of the company;
● Other causes provided by the law or the constitutive act of the company.

The causes of company dissolution are multiple, some are internal and result from partner decisions or changes in legislation, others are external, national or global. The activity of dissolving firms has a very high share in our services, having the opportunity to do so both voluntarily and through judicial channels. At the same time, we can take your company's debts (legally, to the notary and followed by the takeover registration), we can help you sell it (we have clients who are willing to take over such companies for tax reasons) or we can offer you a sale with or without debt, for older or newly established firms.