Law no. 102/2020 for the amendment and completion of the Companies Law no. 31/1990
On July 2, 2020, the legislative proposal for amending Law 31/1990 on companies was published, which provides, among other changes, the elimination of restrictions on the sole shareholder.
The changes will enter into force on July 5, 2020. The changes were aimed at accelerating the registration process of new companies and thus stimulating entrepreneurial initiatives.
The main provisions brought by law are the following:
• The limitation of the number of companies to be registered with the same address is canceled;
• The consent of the neighbors is no longer due for register offices in the collective buildings, if the administrator declares on his own responsibility the fact that no economic activity is carried out at the registered office;
• Individuals or legal entities may be sole shareholder in an unlimited number of limited liability companies.
