The sale of share in an Ltd is faster and easier and so are the formalities to register the Ltd

The sale of share in an Ltd is faster and easier and so are the formalities to register the Ltd

Law 223/2020, published on Nov 2nd changes Law 31/1990 of the companies as following:

• The 30 days term to oppose a sale of shares has been canceled
• The sale of shares to a 3rd party must be approved by at least ¾ of the shareholders unless the Articles of Incorporation provides less
• The minimum share capital of an Ltd is 1 leu
• The prove of capital deposit is no longer required to register an Ltd. The contract for the registered office use is no longer due to be previously registered with the tax authorities.

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