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Romanian Structure

Limited Liability Companies

Pursuant to the Romanian Companies Law, a Limited Liability Company (in Romanian: “societate cu răspundere limitată”) must have the following organizational structure:

  1. One or more Managing Directors only (in Romanian: “Administrator”).

Joint Stock Corporations

Pursuant to Romanian Companies Law, a Joint Stock Corporation (in Romanian: “societate pe acțiuni”) may have one of the following organizational structures:

  1. A Board of Directors (in Romanian: ”Consiliu de Administrație”) or a Sole Director (in Romanian: ”Administrator”); the Sole Director or the Board of Directors may delegate authority to an Executive Board (in Romanian: ”Directori”) or to a Sole Manager (in Romanian: ”Director General”).
  2. A Supervisory Board (in Romanian: “Consiliu de Supraveghere”) and Executive Directors (in Romanian: ”Directorat”) or a Managing Director  (in Romanian: ”Director General”).

Please see, respectively “Managing Directors”, “Sole Director/Board of Directors”, “Sole Manager/Executive Board” “Supervisory Board” and “Managing Director/Executive Directors” in the left side menu for a more in-depth description of each structure, including how to change the respective board members.

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Maravela & Asociații has provided all input about changing board members in Romania. Maravela & Asociații is an internationally recognized and repeatedly awarded Romanian law firm offering full services in legal, tax advisory and insolvency matters. Firm’s clients (large multinational corporations, sound Romanian companies, private investors, public authorities and State companies) have consistently endorsed the quality of services provided, the flexible approach, responsiveness and a friendly working climate.

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