Winding up - Romania
The process for dissolving and winding up businesses is subject to the regulations stipulated in the Law on commercial companies.
Types of dissolution
In accordance with legal provisions, a company can be dissolved due to:
- expiry of the period established for its activities;
- impossibility of fulfilling the purpose of its business;
- the company being declared void;
- a decision taken at a General Meeting;
- a court ruling, on the basis of a well-founded request by any partner;
- bankruptcy of the company.
When filing for bankruptcy is the only option left for a business owner, it pays to cut losses, initiate proceedings sooner rather than later, and move on to a new business project.
Biroul Unic (One-Stop Office)
The formalities for dissolving a business can be carried out online, by accessing the E-government portal.
The first step is to dissolve the firm. This is accomplished by filling in a series of documents and deeds which certify the amendments made to the memorandum of association, along with notifications required by special laws and evidence that all the relevant fees for dissolving and deregistering the company have been paid.
The dissolution is then published in the Official Gazette of Romania.
The next step is to have the firm struck off the Trade Register. To this end, you must submit a deregistration application, as well as proof that the company does not have any outstanding liabilities in respect of the state budget or social security contributions.
The deregistration application is filed thirty days after the amendment has been published in the Official Gazette.
Non-resident individuals and legal entities must file translated and notarised copies of their documents.
Once a company has been struck off the Trade Register, its activities must cease completely and irreversibly.
Check also the legislation on this topic in: