Corporate law in Romania refers to the legal framework that governs the formation, management, operation, and dissolution of corporations and other business entities in Romania. The main legal sources of corporate law in Romania are the Romanian Commercial Code and the Companies Law.
Under Romanian law, a corporation is a legal entity that is separate from its shareholders, and can own property, enter into contracts, and engage in other legal activities. The most common types of corporations in Romania are joint-stock companies (Societate pe Acțiuni, or S.A.) and limited liability companies (Societate cu Răspundere Limitată, or S.R.L.). Other types of entities include partnerships and sole proprietorships.
The Romanian Commercial Code and the Companies Law provide detailed provisions regarding the formation, governance, and management of corporations in Romania. These laws cover a wide range of issues, including the procedures for incorporating a company, the rights and obligations of shareholders, directors, and officers, the rules for conducting shareholder meetings, and the procedures for filing and publishing financial statements.
In addition to the Romanian Commercial Code and the Companies Law, there are other laws and regulations that affect corporations in Romania, such as tax laws, labor laws, and environmental laws. These laws are designed to ensure that corporations operate in a legal and ethical manner, and that they contribute to the overall development of the Romanian economy.
Overall, corporate law in Romania is designed to promote a fair and transparent business environment, to protect the interests of shareholders and other stakeholders, and to encourage investment and economic growth.