Share transfer in Romania
Corporate lawyer in Romania. What does a transfer of shares in Romania entail?
Assignment of shares in Romania involves the process by which the transfer of stock ownership rights in Romania within an LLC is conducted, where an associate makes a share transfer in Romania to another individual or legal entity, either within or outside the company.
A share transfer agreement in Romania is concluded between the two parties involved in the transfer of shares in case of a limited liability company (LLC). The main effect of this share transfer agreement in Romania is the replacement of one associate with another. The party transferring the shares is called the assignor, while the party acquiring ownership of these shares is called the assignee.
To effectuate the transfer of shares in case of a limited liability company LLC, collaboration with a corporate lawyer in Romania or a share transfer lawyer in Romania is essential. They can provide personalized legal assistance according to the company’s needs without affecting its compliant operations.
According to Law 31/1990 on companies, the sale of shares in Romania is not the only way associates make a transfer of shares in case of a limited liability company LLC. In addition to the transfer of shares in Romania, the change of associates can also occur through the withdrawal of an associate by exiting the company with the payment of the value of their shares. Both the sale of shares in Romania and the withdrawal of an associate involve certain legal operations that can be carried out with the help of a share transfer lawyer in Romania or a commercial lawyer in Romania.
The law also provides for certain special situations in which the withdrawal of an associate can occur, such as the change of the company’s main activity without the consent of the respective associate.
Assistance from a Trade Register lawyer in Romania can ensure that all required procedures are correctly followed and properly registered with the National Trade Register Office (ONRC).
The Romanian Law Firm Pavel, Margarit and Associates provides legal advice and legal assistance services in corporate law, especially regarding assistance in share transfer in Romania. A corporate lawyer in Romania can support you in the transfer of stock ownership rights in Romania, having great experience in commercial law in Romania. In order to benefit from our professional support and for commercial lawyer advice, we invite you to fill in the contact form available on our website https://avocatpavel.com/contact/.
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Commercial lawyer in Romania. Transfer of shares in case of a limited liability company LLC
Assignment of shares in Romania can be carried out between associates or to persons outside the company if it is approved by the associates representing at least three-quarters of the share capital, according to Law 31/1990 on companies.
The transfer of stock ownership rights in Romania within an LLC is based on a share transfer agreement in Romania, which represents the mutual consent of the parties. A share transfer agreement in Romania can be negotiated by the parties and includes the rights and obligations from the moment the transfer of shares takes place until the procedure is finalized by registration with the National Trade Register Office (ONRC). The agreement also stipulates the transfer price in case of a sale of shares in Romania. The form in which a share transfer agreement in Romania is concluded can be private, but the crucial aspect is its registration with the National Trade Register Office (ONRC).
According to Law 31/1990 on companies, the transfer of shares in Romania can also occur by succession, subject to the provisions of the company’s articles of association. If the transfer of the associate status by succession is expressly prohibited in the articles of association, the company is obliged to pay the share value to the successors, according to the latest approved balance sheet.
Along with the share transfer agreement in Romania, the associates must also draft the Resolution of the General Meeting of Associates, which must be submitted to the National Trade Register Office (ONRC) within 15 days to complete the formalities of opposability to third parties. A Trade Register lawyer in Romania or a commercial lawyer in Romania can assist in drafting and submitting the necessary documentation to save time and streamline the process of a sale of shares in Romania. To ensure opposability to third parties, a sale of shares in Romania must also be recorded in the company’s register of associates. Thus, all effects concerning third parties will occur only after the transfer of shares has been finalized through registration at the National Trade Register Office (ONRC).
Therefore, the transfer of stock ownership rights in Romania within an LLC operates when an associate wants to exit the company or when another individual or legal entity wants to join as an associate, without contributing to the share capital. The essence of this institution is that the existing associates transfer a percentage of their shares to the new associate.
Consulting a Trade Register lawyer in Romania or a corporate lawyer in Romania is an important step for the successful procedure of the assignment of shares in Romania, given the legal expertise required to prepare and submit the necessary documents legally and within the deadlines set by Law 31/1990 on companies.
The Romanian Law Firm Pavel, Mărgărit and Associates offers high-standard professional legal services in all practice areas, particularly in the corporate field. Our team demonstrates a complex understanding of commercial legislation and related regulations, providing clear and efficient legal solutions to all clients who have requested the services of a share transfer lawyer in Romania or a commercial lawyer in Romania.
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