The Stock-company is a form of company whose capital is divided into shares, and the social obligations are guaranteed, the shareholders are liable, however, only in the limit of their intake.

The social capital is determined by the shareholders to meet the needs of society, but cannot be lower than the RON equivalent of 25,000 Euro.

Stock-companies are constituted by: the intake of at least two shareholders for carrying out a commercial activity, in order to share profits and who respond for social obligations in the limit of their intake or public subscription that requires a subscription offer to anyone who has money and wishes to invest by buying shares.

The Act of Incorporation of a joint stock company shall include all data required for an Ltd. with the following specifications:

  • the social capital registered for each shareholder shall not be less than 30% of the subscribed capital. The remaining capital will be paid within 12 months of registration.
  • in addition to the Ltd., the articles of incorporation of a joint stock company must cover:
    • an indication whether the shares are registered or by bearer
    • if there are several classes of shares the number, nominal value and rights of each category of shares will be shown;
    • the guarantee the administrators are obliged to submit
    • the full name, date and place of birth, residence and citizenship of the auditors (if individuals);
    • the name, address and nationality of the auditors (if legal persons).

The NARTEA & PARTNERS lawyers team will make available their services for setting up a joint stock company.

Nartea - 2020