New restitution law for Communist Confiscated Properties

A new restitution law is prepared by the Romanian government these days and rumors in the Romanian press refer to the enormous stake: lands and forests estimated at approx. 11 billion Euros.

Here is what Ziarul Financiar (www.zf.ro) writes on this subject:
The government wants the new law to establish a national fund to compensate people whose property was confiscated by the communist regime over sixty years ago and cannot receive compensation in nature.


Currently, more than 200,000 claims files are waiting to be solved, but no one knows the exact amount of these requests nor how many of these claims are truly justified. There is no national register of restitution showing the exact area of ​​land or number of dwellings claimed.

The area in question consists of 400,000 hectares of land currently comprising the ADS administration of lands and resorts research institutes and ministries. Also there are 3.2 million hectares of forest.

The Romanian government is not going to simply hand out these properties to the people requesting compensation, but prepare a rather complicated system that will enable them to purchase any of the properties in a bidding system. There are many opinions that this system will be designed to compensate some...more than others.

You can read the entire article here:
http://www.zf.ro/eveniment/miza-din-spatele-noii-legi-a-retrocedarilor-terenuri-si-paduri-de-11-miliarde-de-euro-terenuri-apartinand-institutelor-de-cercetare-si-jumatate-din-padurile-romaniei-sunt-uriasa-miza-din-spatele-noii-legi-10675755

Our Law Firm has successfully represented an important number of clients for the restitution of communist confiscated properties.

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Even without Green Certificate incentives Romania remains very interesting for wind farms investors. In 2012 it seems that over half of foreign investments in Romania went to green energy projects.
http://business-review.ro/featured/romania-remains-13th-most-attractive-for-renewable-energy-investments/ 

Our Law Firm has been involved in some of these projects and we have been familiarized to most problems arising from due diligence for the projects. If you might be interested in investing in this market please contact us.
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Why we have created this Romanian legal blog

Enescu & Cuc Law Firm has been offering legal services to international investors since 2003. We have had clients from over 50 countries and a few hundred companies/commercial entities established for business people expanding to Romania. We are glad to know that we have facilitated some important amounts to be invested in Romania, a good number of jobs to be provided to local employees as well as provided legal advice that resulted in important profits for those that believed in Romania's potential.

Already our website (www.romanianlawoffice.com) contains a large number of articles on the Romanian business environment in 4 languages. Nevertheless we believe that a blog will facilitate even better interaction with those people prospecting to start their businesses in Romania or already doing business here.

This blog will also host our personal opinions on changes in the Romanian legislation (that might influence local or foreign investment), some basic legal advice as well as some good business opportunities in the country.

With some effort from the Romanian State, we still believe that Romania could offer in near future a good retreat for those investors burdened by the own country's fiscal legislation or inhospitable business climate. Again, this would be achievable only after some solid action from the Romanian State.

You're welcome to post any comments or questions related to the legal and business sector in Romania; we'll gladly provide feedback and/or opinions.